Nature and Purpose of Business Class 12 MCQs Questions with Answers

1. Human activities are of ____________ types

2. Business risk is not likely to arise due to

3. Human activities which are performed in exchange for money or money’s worth are called ______

4. occupation in which people regularly engage in activities related to purchase, production and/or sale of goods and services with a view to earning profits is called ______

5. Which of the following cannot be classified as an auxiliary to trade?

6. Extractive industry is a type of ____

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

8. Following are the characteristics of business risks. One of then is not correct. Please identify it.

9. Which of the following does not characterize business activity?

10. Transfer of interest exists in the case of

11. The possibilities of inadequate profits or even losses due to uncertainties are known as ____________

12. Which of the broad categories of industries covers oil refinery and sugar mills?

13. Which of the following is not an example of non-economic activity?

14. Name the two broad categories of business activities.

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

16. Commerce includes activities relating to trade and _________________ to trade.

17. Which one of the following may not be a factor behind starting a business?

18. Economic activities may be classified into business, ___________ and employment

19. Earning of profit is considered to be the subsidiary objective of the business.’ The given statement is

20. Which of the following cannot be classified as an objective of business?