BUSINESS STUDIES chapter 1 and 2
Business Studies Quiz: Chapters 1 & 2
Test your knowledge of Business Studies with our engaging quiz covering the first two chapters! This quiz includes questions on economic activities, business structures, and the characteristics of businesses.
- 10 multiple choice questions
- Focus on key concepts from Business Studies
- Learn as you play!
Which of the following is not an economic activity?
Production
Social Services
Professional
Trading in goods
Which of the following is not a business activity
Production of goods
Transportation
Exchange of goods
Work in a factory for wages
Which of the following is the characteristic of a business
Production
Exchange or Sale
Risk Element
All of the options
Oil refineries and sugar mills are classified under which industries?
Primary
Secondary
Tertiary
None of the above
Which of the following is a false statement?
The scope of commerce is narrower than business.
Commerce includes trade and auxiliaries to trade
Foreign trade is purchase and sale by the traders of the same country.
Traders serve as a link between producers and consumers.
The structure in which there is separation of ownership and management is called?
Sole proprietorship
Partnership
Company
All business organizations
Which of the following is not a non-economic activity?
Patriotism
Teaching
Sentiment
Sympathy
The Karta in The Joint Hindu Family business has
Limited liability
Unlimited liability
No liabilities or debts
Joint liability
Organizations with single owner are called
Partnership
Sole proprietorship
Company
Cooperative society
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