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Fundamentals of Business Activities Test 1

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Fundamentals of Business Activities Test 1
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Weekly Quiz Competition
  • Question 1
    1 / -0
    _______ is essential for any business concern.
  • Question 2
    1 / -0
    Winch of these is not an element of a market?
    Solution
    ATM and Bank Branch -are not the elements of market since they are not required in order to maintain the free flow of demand and supply forces.
  • Question 3
    1 / -0
    A person who does writing work for his boss is a ____________.
    Solution
    The term secretary means a person who writes secret on behalf of his superior or for his/her boss.
  • Question 4
    1 / -0
    Management qualified all the tests of profession except ________.
  • Question 5
    1 / -0
    Which of the following can be treated as characteristics of business organization?
  • Question 6
    1 / -0
    Which of these is not an economic activity?
    Solution
    Playing a friendly 20-20 match is not an economic activity as it does not relate to production, consumption, distribution or exchange.
  • Question 7
    1 / -0
    The acronym of All India Management Association is _____________.
  • Question 8
    1 / -0
    The base period should be ________ period.
    Solution
    Base period is also known as reference period. It refers to the reference point which is usually taken to measure any economical and financial data with other periods. Thus, the base period should be a normal period.
  • Question 9
    1 / -0
    _______ guides the behavior of the professionals.
  • Question 10
    1 / -0
    Which of the following is/are not an economic resource?
    Solution

    Economic resources are the scarce resources which help in the production of goods and services. Air, water, and sunlight are not the economic resources. This is because these resources are present in abundance which means they are not scarce. The example of economic resources are land, labour, capital. 

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