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Grade 10 Exam  >  Grade 10 Tests  >  Test: Classification of Businesses - Grade 10 MCQ

Test: Classification of Businesses - Grade 10 MCQ


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10 Questions MCQ Test - Test: Classification of Businesses

Test: Classification of Businesses for Grade 10 2025 is part of Grade 10 preparation. The Test: Classification of Businesses questions and answers have been prepared according to the Grade 10 exam syllabus.The Test: Classification of Businesses MCQs are made for Grade 10 2025 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Classification of Businesses below.
Solutions of Test: Classification of Businesses questions in English are available as part of our course for Grade 10 & Test: Classification of Businesses solutions in Hindi for Grade 10 course. Download more important topics, notes, lectures and mock test series for Grade 10 Exam by signing up for free. Attempt Test: Classification of Businesses | 10 questions in 20 minutes | Mock test for Grade 10 preparation | Free important questions MCQ to study for Grade 10 Exam | Download free PDF with solutions
Test: Classification of Businesses - Question 1
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Which sector is primarily involved in the extraction of natural resources?

Detailed Solution for Test: Classification of Businesses - Question 1
The primary sector involves activities related to the extraction and harvesting of natural resources, such as mining, agriculture, and fishing.
Test: Classification of Businesses - Question 2
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Which of the following is a characteristic of a public sector organization?

Detailed Solution for Test: Classification of Businesses - Question 2
Public sector organizations are funded by taxes and are typically run by the government to provide services to the public rather than to make a profit.
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Test: Classification of Businesses - Question 3
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A company that manufactures cars belongs to which economic sector?

Detailed Solution for Test: Classification of Businesses - Question 3
The secondary sector involves manufacturing and construction, where raw materials from the primary sector are transformed into finished goods.
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Which type of business is most likely to be found in the tertiary sector?
Detailed Solution for Test: Classification of Businesses - Question 4
The tertiary sector provides services to consumers and businesses, such as retail, entertainment, and financial services.
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In a mixed economy, which sector includes businesses that are both publicly and privately owned?
Detailed Solution for Test: Classification of Businesses - Question 5
In a mixed economy, the tertiary sector includes businesses that offer services and can be publicly or privately owned, depending on the country and industry.
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How does the public sector differ from the private sector in terms of objectives?
Detailed Solution for Test: Classification of Businesses - Question 6
The public sector's main objective is to provide essential services to the public, while the private sector's primary goal is to maximize profits for its owners and shareholders.
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What is an example of a business operating in the quaternary sector?
Detailed Solution for Test: Classification of Businesses - Question 7
The quaternary sector involves knowledge-based activities, such as IT services, research, and development, and consultancy services.
Test: Classification of Businesses - Question 8
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Which of the following best describes a partnership in the private sector?
Detailed Solution for Test: Classification of Businesses - Question 8
A partnership is a type of private sector business where two or more individuals share ownership, profits, and liabilities.
Test: Classification of Businesses - Question 9
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What is the primary role of the secondary sector in an economy?
Detailed Solution for Test: Classification of Businesses - Question 9
The secondary sector is responsible for transforming raw materials from the primary sector into finished products through manufacturing and construction.
Test: Classification of Businesses - Question 10
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Which economic sector is typically associated with high levels of innovation and information processing?
Detailed Solution for Test: Classification of Businesses - Question 10
The quaternary sector focuses on knowledge-based activities, including innovation, research, and information processing, making it the sector most associated with these activities.
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