Self Studies
Self Studies
Self Studies
Self Studies

Fundamentals of Business Activities Test 23

Result Self Studies

Fundamentals of Business Activities Test 23
  • Score

    -

    out of -
  • Rank

    -

    out of -
TIME Taken - -
Self Studies

SHARING IS CARING

If our Website helped you a little, then kindly spread our voice using Social Networks. Spread our word to your readers, friends, teachers, students & all those close ones who deserve to know what you know now.

Self Studies Self Studies
Weekly Quiz Competition
  • Question 1
    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 2
    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 3
    1 / -0
    Which of the following cannot be a social objective of the business?
    Solution
    Social objective are those objectives of business, which are desired to be achieved for the benefit of the society. Since business operates in a society by utilizing its scarce resources, the society expects something in return for its welfare.
    Management is responsible for setting and achieving objectives for the organisation. The main objective of any organization should be to utilise human and material resources to the maximum possible advantage, to fulfill the economic objectives of a business.
  • Question 4
    1 / -0
    Business contributes a fair share for the social welfare of the nation by starting and running of ______________.
    Solution
    Small businesses contribute to local economies by bringing growth and innovation to the community in which the business is established. Owning and running your own business can be more satisfying and fulfilling than working for someone else. 
    Many successful small business owners find they enjoy the respect they earn from their peers for having the courage to go out on their own. Power. Don't be surprised if power is one of your goals.
  • Question 5
    1 / -0
    The equilibrium below full employment level is termed as _____________.
    Solution
    When the aggregate spending is not sufficient to produce an adequate level of output which requires full employment of available resources then it means aggregate demand is less than aggregate supply, then the planned inventory rises above the desired level. To clear the unwanted increase in inventory, firms plan to reduce the output which reduces the employment in the economy and results in AD=AS. This equilibrium point is below the full employment level of equilibrium which is called underemployment equilibrium. 
  • Question 6
    1 / -0
    When the aggregate spending is not sufficient to produce that level of output which requires full employment of the available resources, it results in ______________.
    Solution
    When the aggregate spending is not sufficient to produce an adequate level of output which requires full employment of available resources then it means aggregate demand is less than aggregate supply, then the planned inventory rises above the desired level. To clear the unwanted increase in inventory, firms plan to reduce the output which reduces the employment in the economy. 
  • 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
    Excessive aggregate spending leads to full employment level of output accompanied with ____________.
    Solution
    When the aggregate spending is excessive then it leads to output which has full employment of available resources then it means aggregate demand is more than aggregate supply, then the planned inventory would fall below the desired level. To bring back the Inventory at the desired level, the producers expand the output but due to full employment of the available resources the output remains the same which leads to inflation in the economy.
  • Question 9
    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. 
  • Question 10
    1 / -0
    Business produces goods and supplies the goods that are required for the development of a nation. This forms a part of ______ objective of the business.
    Solution
    Social objective are those objectives of business, which are desired to be achieved for the benefit of the society. Since business operates in a society by utilizing its scarce resources, the society expects something in return for its welfare.
    Management is responsible for setting and achieving objectives for the organisation. The main objective of any organization should be to utilise human and material resources to the maximum possible advantage, i.e., to fulfill the economic objectives of a business.
Self Studies
User
Question Analysis

  • Correct -

  • Wrong -

  • Skipped -

My Perfomance
  • Score

    -

    out of -
  • Rank

    -

    out of -
Re-Attempt Weekly Quiz Competition
Self Studies Get latest Exam Updates
& Study Material Alerts!
No, Thanks
Self Studies
Click on Allow to receive notifications
Allow Notification
Self Studies
Self Studies Self Studies
To enable notifications follow this 2 steps:
  • First Click on Secure Icon Self Studies
  • Second click on the toggle icon
Allow Notification
Get latest Exam Updates & FREE Study Material Alerts!
Self Studies ×
Open Now