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Nature and Purpose of Business MCQ Questions And Answers - Business Studies Class 11

Nature and Purpose of Business MCQs : This section focuses on the "Nature and Purpose of Business" in Business Studies Class 11. These Multiple Choice Questions (MCQs) should be practiced to improve the Business Studies Class 11 skills required for various interviews (campus interview, walk-in interview, company interview), placement, entrance exam and other competitive examinations.




Question 1

Business is an economic activity that involves?

A. exchange
B. sale
C. purchase
D. All of the above

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Question 2

Businesses can be ____________ organizations

A. profit
B. non-profit
C. both profit or non-profit
D. None of the above

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Question 3

A person sold his old mobile phones for Rs.10, 000. Identify the type of activity performed here?

A. Economic activity
B. Non-economic activity
C. Both A and B
D. None of the above

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Question 4

Identify the characteristics of the businessĀ :

A. Profit earning
B. Uncertainty of return
C. Both A and B
D. None of the above

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Question 5

Business is not concerned with the achievement of social and emotional objectives.

A. TRUE
B. FALSE
C. Can be true or false
D. Can not say

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Question 6

Business risk is not likely to arise due to

A. Changes in government policy
B. Good management
C. Employee dishonesty
D. Power failure

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Question 7

The industries which provide support services to other industries are known as

A. Primary industries
B. Secondary industries
C. Tertiary industries
D. Commercial industries

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Question 8

The occupation in which people work for others and get remunerated in return is known as

A. Business
B. Profession
C. Employment
D. None of the above

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Question 9

Which of the following does not characterize business activity?

A. Production of goods & services
B. Presence of risk
C. Sale or exchange of goods and services
D. Salary and wages

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Question 10

A one-time sale is not considered a business activity.

A. Yes
B. No
C. Can be yes or no
D. Can not say

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