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Mr.Ronald owns a shoe store. He has 50 employees working for him. He buys the leather from suppliers, gets them stitched and designed from outside, and sells them at his store. The customers were happy with the quality of shoes they purchased and visited the store frequently.
Q. What are the characteristics that can be seen from the above passage?
Q. What are the characteristics that can be seen from the above passage?
- a)1. An economic activity
2. Uncertainty of return - b)1. Production or procurement of goods and services
2. An economic activity - c)1. An economic activity
2. Production or procurement of goods and services
3. Sale or exchange of goods and services for the satisfaction of human needs - d)1. An economic activity
2. Sale or exchange of goods and services for the satisfaction of human needs.
Correct answer is option 'C'. Can you explain this answer?
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Verified Answer
Mr.Ronald owns a shoe store. He has 50 employees working for him. He b...
From the above passage, the following business activities can be seen:
1. An economic activity
2. Production or procurement of goods and services
3. Sale or exchange of goods and services for the satisfaction of human needs
Most Upvoted Answer
Mr.Ronald owns a shoe store. He has 50 employees working for him. He b...
Characteristics seen from the passage:
1. An economic activity: The passage describes Mr. Ronald as the owner of a shoe store, which indicates that he is engaged in an economic activity. Running a business involves the production, distribution, and exchange of goods and services for profit, and this is evident in Mr. Ronald's shoe store.
2. Production or procurement of goods and services: Mr. Ronald's shoe store involves the production or procurement of goods, as he buys leather from suppliers, gets them stitched and designed from outside, and sells them at his store. This indicates the manufacturing or assembly of shoes as a part of the business activity.
3. Sale or exchange of goods and services for the satisfaction of human needs: The ultimate goal of Mr. Ronald's shoe store is to sell or exchange the shoes with customers for their satisfaction. The passage mentions that the customers were happy with the quality of shoes they purchased and visited the store frequently, indicating that the shoes meet their needs and preferences.
Explanation:
The passage clearly highlights three key characteristics that can be seen:
1. An economic activity: This is evident from the fact that Mr. Ronald owns a shoe store and is engaged in the production, distribution, and exchange of goods and services for profit.
2. Production or procurement of goods and services: Mr. Ronald's shoe store involves the production or procurement of goods, as he buys leather from suppliers, gets them stitched and designed from outside, and sells them at his store. This indicates the manufacturing or assembly of shoes as a part of the business activity.
3. Sale or exchange of goods and services for the satisfaction of human needs: The primary purpose of Mr. Ronald's shoe store is to sell or exchange shoes with customers to meet their needs and preferences. The passage mentions that the customers were happy with the quality of shoes they purchased and visited the store frequently, indicating that the shoes satisfy their requirements.
Therefore, the correct answer is option 'C': An economic activity, production or procurement of goods and services, and sale or exchange of goods and services for the satisfaction of human needs.
1. An economic activity: The passage describes Mr. Ronald as the owner of a shoe store, which indicates that he is engaged in an economic activity. Running a business involves the production, distribution, and exchange of goods and services for profit, and this is evident in Mr. Ronald's shoe store.
2. Production or procurement of goods and services: Mr. Ronald's shoe store involves the production or procurement of goods, as he buys leather from suppliers, gets them stitched and designed from outside, and sells them at his store. This indicates the manufacturing or assembly of shoes as a part of the business activity.
3. Sale or exchange of goods and services for the satisfaction of human needs: The ultimate goal of Mr. Ronald's shoe store is to sell or exchange the shoes with customers for their satisfaction. The passage mentions that the customers were happy with the quality of shoes they purchased and visited the store frequently, indicating that the shoes meet their needs and preferences.
Explanation:
The passage clearly highlights three key characteristics that can be seen:
1. An economic activity: This is evident from the fact that Mr. Ronald owns a shoe store and is engaged in the production, distribution, and exchange of goods and services for profit.
2. Production or procurement of goods and services: Mr. Ronald's shoe store involves the production or procurement of goods, as he buys leather from suppliers, gets them stitched and designed from outside, and sells them at his store. This indicates the manufacturing or assembly of shoes as a part of the business activity.
3. Sale or exchange of goods and services for the satisfaction of human needs: The primary purpose of Mr. Ronald's shoe store is to sell or exchange shoes with customers to meet their needs and preferences. The passage mentions that the customers were happy with the quality of shoes they purchased and visited the store frequently, indicating that the shoes satisfy their requirements.
Therefore, the correct answer is option 'C': An economic activity, production or procurement of goods and services, and sale or exchange of goods and services for the satisfaction of human needs.
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Mr.Ronald owns a shoe store. He has 50 employees working for him. He buys the leather from suppliers, gets them stitched and designed from outside, and sells them at his store. The customers were happy with the quality of shoes they purchased and visited the store frequently.Q. What are the characteristics that can be seen from the above passage?a)1. An economic activity2. Uncertainty of returnb)1. Production or procurement of goods and services2. An economic activityc)1. An economic activity2. Production or procurement of goods and services3. Sale or exchange of goods and services for the satisfaction of human needsd)1. An economic activity2. Sale or exchange of goods and services for the satisfaction of human needs.Correct answer is option 'C'. Can you explain this answer?
Question Description
Mr.Ronald owns a shoe store. He has 50 employees working for him. He buys the leather from suppliers, gets them stitched and designed from outside, and sells them at his store. The customers were happy with the quality of shoes they purchased and visited the store frequently.Q. What are the characteristics that can be seen from the above passage?a)1. An economic activity2. Uncertainty of returnb)1. Production or procurement of goods and services2. An economic activityc)1. An economic activity2. Production or procurement of goods and services3. Sale or exchange of goods and services for the satisfaction of human needsd)1. An economic activity2. Sale or exchange of goods and services for the satisfaction of human needs.Correct answer is option 'C'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Mr.Ronald owns a shoe store. He has 50 employees working for him. He buys the leather from suppliers, gets them stitched and designed from outside, and sells them at his store. The customers were happy with the quality of shoes they purchased and visited the store frequently.Q. What are the characteristics that can be seen from the above passage?a)1. An economic activity2. Uncertainty of returnb)1. Production or procurement of goods and services2. An economic activityc)1. An economic activity2. Production or procurement of goods and services3. Sale or exchange of goods and services for the satisfaction of human needsd)1. An economic activity2. Sale or exchange of goods and services for the satisfaction of human needs.Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Mr.Ronald owns a shoe store. He has 50 employees working for him. He buys the leather from suppliers, gets them stitched and designed from outside, and sells them at his store. The customers were happy with the quality of shoes they purchased and visited the store frequently.Q. What are the characteristics that can be seen from the above passage?a)1. An economic activity2. Uncertainty of returnb)1. Production or procurement of goods and services2. An economic activityc)1. An economic activity2. Production or procurement of goods and services3. Sale or exchange of goods and services for the satisfaction of human needsd)1. An economic activity2. Sale or exchange of goods and services for the satisfaction of human needs.Correct answer is option 'C'. Can you explain this answer?.
Mr.Ronald owns a shoe store. He has 50 employees working for him. He buys the leather from suppliers, gets them stitched and designed from outside, and sells them at his store. The customers were happy with the quality of shoes they purchased and visited the store frequently.Q. What are the characteristics that can be seen from the above passage?a)1. An economic activity2. Uncertainty of returnb)1. Production or procurement of goods and services2. An economic activityc)1. An economic activity2. Production or procurement of goods and services3. Sale or exchange of goods and services for the satisfaction of human needsd)1. An economic activity2. Sale or exchange of goods and services for the satisfaction of human needs.Correct answer is option 'C'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Mr.Ronald owns a shoe store. He has 50 employees working for him. He buys the leather from suppliers, gets them stitched and designed from outside, and sells them at his store. The customers were happy with the quality of shoes they purchased and visited the store frequently.Q. What are the characteristics that can be seen from the above passage?a)1. An economic activity2. Uncertainty of returnb)1. Production or procurement of goods and services2. An economic activityc)1. An economic activity2. Production or procurement of goods and services3. Sale or exchange of goods and services for the satisfaction of human needsd)1. An economic activity2. Sale or exchange of goods and services for the satisfaction of human needs.Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Mr.Ronald owns a shoe store. He has 50 employees working for him. He buys the leather from suppliers, gets them stitched and designed from outside, and sells them at his store. The customers were happy with the quality of shoes they purchased and visited the store frequently.Q. What are the characteristics that can be seen from the above passage?a)1. An economic activity2. Uncertainty of returnb)1. Production or procurement of goods and services2. An economic activityc)1. An economic activity2. Production or procurement of goods and services3. Sale or exchange of goods and services for the satisfaction of human needsd)1. An economic activity2. Sale or exchange of goods and services for the satisfaction of human needs.Correct answer is option 'C'. Can you explain this answer?.
Solutions for Mr.Ronald owns a shoe store. He has 50 employees working for him. He buys the leather from suppliers, gets them stitched and designed from outside, and sells them at his store. The customers were happy with the quality of shoes they purchased and visited the store frequently.Q. What are the characteristics that can be seen from the above passage?a)1. An economic activity2. Uncertainty of returnb)1. Production or procurement of goods and services2. An economic activityc)1. An economic activity2. Production or procurement of goods and services3. Sale or exchange of goods and services for the satisfaction of human needsd)1. An economic activity2. Sale or exchange of goods and services for the satisfaction of human needs.Correct answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation.
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Mr.Ronald owns a shoe store. He has 50 employees working for him. He buys the leather from suppliers, gets them stitched and designed from outside, and sells them at his store. The customers were happy with the quality of shoes they purchased and visited the store frequently.Q. What are the characteristics that can be seen from the above passage?a)1. An economic activity2. Uncertainty of returnb)1. Production or procurement of goods and services2. An economic activityc)1. An economic activity2. Production or procurement of goods and services3. Sale or exchange of goods and services for the satisfaction of human needsd)1. An economic activity2. Sale or exchange of goods and services for the satisfaction of human needs.Correct answer is option 'C'. Can you explain this answer?, a detailed solution for Mr.Ronald owns a shoe store. He has 50 employees working for him. He buys the leather from suppliers, gets them stitched and designed from outside, and sells them at his store. The customers were happy with the quality of shoes they purchased and visited the store frequently.Q. What are the characteristics that can be seen from the above passage?a)1. An economic activity2. Uncertainty of returnb)1. Production or procurement of goods and services2. An economic activityc)1. An economic activity2. Production or procurement of goods and services3. Sale or exchange of goods and services for the satisfaction of human needsd)1. An economic activity2. Sale or exchange of goods and services for the satisfaction of human needs.Correct answer is option 'C'. Can you explain this answer? has been provided alongside types of Mr.Ronald owns a shoe store. He has 50 employees working for him. He buys the leather from suppliers, gets them stitched and designed from outside, and sells them at his store. The customers were happy with the quality of shoes they purchased and visited the store frequently.Q. What are the characteristics that can be seen from the above passage?a)1. An economic activity2. Uncertainty of returnb)1. Production or procurement of goods and services2. An economic activityc)1. An economic activity2. Production or procurement of goods and services3. Sale or exchange of goods and services for the satisfaction of human needsd)1. An economic activity2. Sale or exchange of goods and services for the satisfaction of human needs.Correct answer is option 'C'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Mr.Ronald owns a shoe store. He has 50 employees working for him. He buys the leather from suppliers, gets them stitched and designed from outside, and sells them at his store. The customers were happy with the quality of shoes they purchased and visited the store frequently.Q. What are the characteristics that can be seen from the above passage?a)1. An economic activity2. Uncertainty of returnb)1. Production or procurement of goods and services2. An economic activityc)1. An economic activity2. Production or procurement of goods and services3. Sale or exchange of goods and services for the satisfaction of human needsd)1. An economic activity2. Sale or exchange of goods and services for the satisfaction of human needs.Correct answer is option 'C'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
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