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Business, Trade and Commerce Test 23

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Business, Trade and Commerce Test 23
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Weekly Quiz Competition
  • Question 1
    1 / -0
    What is one of the future consequences of an increase in the current level of consumption in the India
  • Question 2
    1 / -0
    All but one, of the following statements is incorrect. Find the correct statement.
    Solution
    Central bank performs the function of lender of last resort. It is the last means which commercial banks can approach when there is no other way to obtain credit for liquidity purposes.
  • Question 3
    1 / -0
    Who controls economic activities under centrally planned economies?
    Solution
    The government controls economic activities under centrally planned economies A centrally planned economy, also known as a command economy, is an economic system in which a central authority, such as a government, makes economic decisions regarding the manufacturing and the distribution of products. Centrally planned economies are different from market economies in which such decisions are traditionally made by businesses and consumers.
  • Question 4
    1 / -0
    Human relations skills are also called.
    Solution
    b'Human relations skills are also called as interpersonal skills. It can also be defined as the skill required to communicate or interact with other human beings. The term \'human relations skill\' refers to an employee\'s ability to work well with others while performing their job.'
  • Question 5
    1 / -0
    A _________ is the ability to perform the given job.
    Solution
    b'A technical skill is the ability to perform the given job. Technical skill can also be defined as the skill which is required to complete the given task in an effective and efficient manner. It is one of the crucial skills which employee should possess to achieve the organizational goals.
  • Question 6
    1 / -0
    The feature of business should be____________.
    Solution
    The business has many distinct features. It must be a lawful business. Moreover, It involves risk. Also, it enjoys a separate status and management. Furthermore, the business should have distinct ownership. An individual or a group of individuals has the right to acquire a legal title over assets or properties for the purpose of running the business.
    Thus. the correct answer is C.
  • Question 7
    1 / -0
    Which of the following professional degree is given by a private institute?
    Solution
    The Chartered Financial Analyst (CFA) Program is a professional credential offered internationally by the American based CFA Institute (formerly the Association for Investment Management and Research, or AIMR) to investment and financial professionals.
  • Question 8
    1 / -0
    Business process is also called business function.
    Solution
    A business process is a collection of linked tasks which find their end in the delivery of a service or product to a client. A business process has also been defined as a set of activities and tasks that, once completed, will accomplish an organizational goal.
    A business process is a logically related set of activities that define how specific business tasks are performed. Business processes are the ways in which organizations coordinate and organize work activities, information, and knowledge to produce their valuable products or services.
  • Question 9
    1 / -0
    Which of the following factors may affect the location of business?
    Solution
    The costs of a business location can be influenced by many non-financial factors, but which can still be significant when making the choice. These include Local government attitude to supporting business (including financial assistance).
    The nearness of the market and the cost of delivering the goods are likely to be important factors.
  • Question 10
    1 / -0
    Who of the following has defined business as "Human activity directed towards producing or acquiring wealth through buying and selling goods"?
    Solution
    According to Lewis H. Haney defined business as "Human activity directed towards producing or acquiring wealth through buying and selling goods." 
    In other words, business is concerned with buying and selling of goods and services and earning profit. 
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