Nature and Purpose of Business Class 12 MCQs Questions with Answers

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

2. Extractive industry is a type of ____

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

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

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

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

7. Transfer of interest exists in the case of

8. Name the two broad categories of business activities.

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

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

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

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

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

14. Business risk is not likely to arise due to

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

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

17. 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 ______

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

19. Human activities are of ____________ types

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