Class 11 Business Studies MCQ Chapter 1 Business Trade and Commerce Solutions to each chapter is provided in the list so that you can easily browse through different chapters Class 11 Business Studies MCQ Chapter 1 Business Trade and Commerce Question Answer and select need one. NCERT Class 11 Business Studies MCQ Chapter 1 Business Trade and Commerce Solutions Download PDF. AHSEC Class 11 Business Studies Multiple Choice Solutions.
Class 11 Business Studies MCQ Chapter 1 Business Trade and Commerce
Also, you can read the NCERT book online in these sections Solutions by Expert Teachers as per Central Board of Secondary Education (CBSE) Book guidelines. NCERT Class 11 Business Studies Objective Type Solutions are part of All Subject Solutions. Here we have given AHSEC Class 11 Business Studies Multiple Choice Question and Answer, HS First Year Business Studies MCQ Solutions for All Chapters, You can practice these here.
Business Trade and Commerce
Chapter: 1
| MCQ |
1. What has played a vital role in the development of the economy since ancient times?
(i) Agriculture.
(ii) Trade and Commerce.
(iii) Banking.
(iv) Mining.
Ans: (ii) Trade and Commerce.
2. What does Hundi literally mean?
(i) To transport.
(ii) To collect.
(iii) To trade.
(iv) To finance.
Ans: (ii) To collect.
3. What benefitted manufacturers, traders, and merchants in ancient India?
(i) International loans.
(ii) Indigenous banking system.
(iii) Stock market.
(iv) Digital banking.
Ans: (ii) Indigenous banking system.
4. When did India agree to economic liberalisation in …
(i) 1991
(ii) 1992
(iii) 1990
(iv) 1994
Ans: (i) 1991
5. What is one reason for India’s rapid economic growth in recent years?
(i) Decreased domestic consumption.
(ii) Increased savings and investments.
(iii) Population decline.
(iv) Isolation from global trade.
Ans: (ii) Increased savings and investments.
6. Why is business considered a business activity?
(i) Because it is undertaken with the objective of earning money or livelihood.
(ii) Because it is undertale with various objectives.
(iii) Because it is a business of buying and selling.
(iv) All of the above.
Ans: (i) Because it is undertaken with the objective of earning money or livelihood.
7. In which type of business are support service activities categorised?
(i) Commercial industries.
(ii) Primary industries.
(iii) Secondary industries.
(iv) Tertiary industries.
Ans: (iv) Tertiary industries.
8. What is the main purpose of business?
(i) Increase Selling.
(ii) Increase production.
(iii) To earn income by way of profit.
(iv) Decreased risk.
Ans: (iii) To earn income by way of profit.
9. Which of the following is not listed as a major export item in ancient India?
(i) Spices.
(ii) Horses.
(iii) Sugar.
(iv) Opium.
Ans: (ii) Horses.
10. Directly or indirectly, business involves transfer or exchange of ________ for value.
(i) Buying.
(ii) Selling.
(iii) Goods and services.
(iv) All of the above.
Ans: (iii) Goods and services.
11. Which of the following professions requires adherence to a professional code of conduct?
(i) Employment.
(ii) Business.
(iii) Profession.
(iv) Farming.
Ans: (iii) Profession.
12. Risks are related to factors, like……….
(i) Changes in consumer taste and fashion.
(ii) Changes in method of production.
(iii) Strike or lockout at workplace, increased competition in market.
(iv) All of the above.
Ans: (iv) All of the above.
13. Which of the following is not a characteristic of employment?
(i) Fixed and regular pay.
(ii) No or little risk.
(iii) Professional fee.
(iv) Work performed as per service contract.
Ans: (iii) Professional fee.
14. Which activity does not facilitate trade?
(i) Banking.
(ii) Warehousing.
(iii) Insurance.
(iv) Mining.
Ans: (iv) Mining.
15. Economic activities may be divided into three major categories viz……….
(i) Business.
(ii) Profession.
(iii) Employment.
(iv) All of the above.
Ans: (iv) All of the above.
