Nature and Purpose of Business-Questions
Q. What are the types of human activities?
Q. What do you mean by economic activities?
Q. What are the types of economic activities?
Q. Define: profession, professionals, employment, employees and employers.
Q. What do you mean by business?
Q. What are the features of business ?
Q. What are the objectives of business?
Q. Distinguish between Business and profession.
Q. Distinguish between Business and employment.
Q. With the help of a diagram explain the classification of business activities.
Q. Define: industry, commerce, trade, aids to trade.
Q. What are the types of industry?
Q. What are the types of trade?
Q. What are the auxiliaries or aids to trade?
Q. What are the hindrances in the process of trade?
Q. What is profit, profitability?
Q. Why is profit earning necessary for the business?
Q. What are the areas in which objectives must be set up by the business?
Q. What is market standing?
Q. Define innovation and its types.
Q. Define social responsibility. Give the meaning of pure risk and speculative risk.
Q. Explain the features and causes of business risks.
Q. Explain the methods of dealing with risks.
Q. Why is business considered an economic activity?
Q. If a person sells his old car at a profit, will it be considered a business? Explain with reason.
Q. Name the economic activity in which specialised knowledge is required.
Q. Why is the banking known as a tertiary industry?
Q. “No business is risk free” In the light of this statement, explain the concept of business risk and its other features.
Q. Commerce is the sum total of activities that remove hindrances in the free flow of goods from producers to consumers. Explain.
Q. “Overemphasis on objective to earn profit may exploit the business”. Discuss.
Q. Name the Industry which covert the extractive goods into some form of utility. Also identify the kind of industry from the given examples:
- A pharmaceutical industry make medicines
- Atlas cycle industry manufacturing cycles.
- Star fisheries, deals in complete process.
- An industry of Bio-gas plant.
Q. Discuss various obstacles in exchange of goods and services. How does commerce remove these obstacles?
Q. “A business should have multiple objectives. “Discuss.
Q. “Profit maximization can’t be the sole objective of a business” Comment.