NATURE AND PURPOSE OF BUSINESS
VERY SHORT ANSWER TYPE QUESTIONS (1marks)
Q1. What is a Profession?
Q2. What is Employment?
Q3. What is meant by business risk?
Q4. Mention two functions of commerce.
Q5. Give any two features of economic objectives of business.
Q6. Give any two features of business.
Q7. Name any two economic activities.
Q8. Name the auxiliaries to the trade.
Q9 What is meant by trade?
Q10 What is meant by industries?
Q11. What is the primary objective of business?
Q12.Why profit earning is essential for the business?
Q13. Why do we insure goods?
SHORT ANSWER TYPE QUESTIONS ( 3marks)
Q1 Briefly explain the various types of economic activities.
Q2.Explain any three features of business.
Q3.How can business activities be classified?
Q4.What is the role of profit in the business?
Q5.Give any three points of difference between business and profession.
Q6.What are the various types of industries?
Q7. How is transport important to the trade?
Q8. Give any three examples of commercial activities.
Q9 State any two causes of business risks .Explain with examples.
Q10What are auxiliaries to trade?
SHORT ANSWER TYPE QUESTIONS ( 4marks)
Q1.Name and explain two features of business which involve possibility of loss.
Q2.How does commerce removes the hindrance of exchange, time and place?
Q3.How do banking and insurance facilitate trade and commerce?
Q4.Explain briefly various types of manufacturing industries, with examples.
Q5.Explain with examples genetic and construction industry.
LONG ANSWER TYPE QUESTIONS (5 & 6marks)
Q1.Explain any five characteristics of business.
Q2. Explain the economic and social objectives of business.
Q3. Differentiate between profession, employment and business.
Q4. Define Profession and state its features.
Q5. Explain the nature and causes of business risk.
Q6. Explain the term industry and discuss various types of industries.
Q7. Explain the role of profit in business.
Q8. Discuss various obstacles in exchange of goods and services. How does commerce remove these obstacles?
Q9. “A business should have multiple objectives. “Discuss.
Q10. “Profit maximization can’t be the sole objective of a business” Comment