Test: Nature & Significance Of Management - 2


10 Questions MCQ Test Business Studies (BST) Class 11 | Test: Nature & Significance Of Management - 2


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This mock test of Test: Nature & Significance Of Management - 2 for Commerce helps you for every Commerce entrance exam. This contains 10 Multiple Choice Questions for Commerce Test: Nature & Significance Of Management - 2 (mcq) to study with solutions a complete question bank. The solved questions answers in this Test: Nature & Significance Of Management - 2 quiz give you a good mix of easy questions and tough questions. Commerce students definitely take this Test: Nature & Significance Of Management - 2 exercise for a better result in the exam. You can find other Test: Nature & Significance Of Management - 2 extra questions, long questions & short questions for Commerce on EduRev as well by searching above.
QUESTION: 1

Which one of the following is an economic activity in which specialized knowledge is required?

Solution:

Profession requires specialized knowledge as an economic activity. Examples can be teacher, doctor, advocate and many more.

QUESTION: 2

What reward an entrepreneur gets for risk bearing in business?

Solution:

Reward that an entrepreneur gets for risk bearing in business is profit.

QUESTION: 3

Which one of the following is NOT an Auxiliary to trade?

Solution:

Auxiliary to trade helps in smooth flow of trade. Insurance, warehouses and transport helps in smooth flow of trade but mining does not helps in smooth flow of trade.

QUESTION: 4

The latest generation of mobile phones has many features like faster internet browsing, Bluetooth etc. This is an example which objective of business?

Solution:

Innovation is the introduction of new ideas or methods in the way something is done or made.

QUESTION: 5

Why a business should earn profit?

Solution:

All of the above are the reasons why a business should earn profit.

QUESTION: 6

Bad debts due to non-payment of debts by debtors is an example of which type of business risk?

Solution:

It is human risk because all the activities are done by human in this case. Any other factor is not responsible for bad debts.

QUESTION: 7

Name the activity of commerce that removes the hindrance of time.

Solution:
QUESTION: 8

Which one of the following economic activity is directed towards producing or acquiring wealth through buying and selling of goods?

Solution:

Profession is concerned with rendering services Employment is concerned with working for others and getting rewarded with salary or wages. Management is concerned with achieving the described goals.

QUESTION: 9

Which one of the following is NOT the objective of the business?

Solution:

Investment is an input as it has to be made to start and run a business.

QUESTION: 10

Which one of the following is NOT a characteristic of business?

Solution:

Managing Business is one of the jobs while regulating a business, it's not a characteristic of a business.