Tag: elements of business

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Questions Related to elements of business

Multiple choice elements of business fundamentals of business activities characteristics of vocational activities basis of classification of business activities classification of business

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

  1. profession

  2. occupation

  3. vocation

  4. work
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Profession is a type of paid occupation which involves training, utilization of skills for a prolonged period. Business, profession and employment all are considered economic activities because they consist of exchange of goods and/or services for money.

Multiple choice elements of business fundamentals of business activities characteristics of vocational activities basis of classification of business activities classification of business

Which theory is considered as a comprehensive attempt at explaining consumer's behaviour?

  1. Group theory

  2. Howard-sheth theory

  3. Cognitive theory

  4. Field theory
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Howard-Sheth theory explains how consumers behave while buying a product or rendering a service in the market. It assumes that consumer is rational while buying the product and how the consumer is getting affected through physical, symbolic and social characteristics of the product, through marketing and their need for the product or service. 

Multiple choice elements of business fundamentals of business activities characteristics of vocational activities basis of classification of business activities classification of business

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

  1. Patriotism

  2. Teaching

  3. Sentiment

  4. Sympathy
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Non-economic activities are those activities which do not generate any income or money while they are carried out. Patriotism, sentiment, sympathy are all emotions, feelings of an individual whereas teaching is an activity which involves money transfer after it is carried out (unless it is intentionally carried out without any pay). Because a teacher gets salary for teaching, it is not an example of non-economic activity.

Multiple choice elements of business fundamentals of business activities characteristics of vocational activities basis of classification of business activities classification of business

The term 'relevant' in a business activity means ____________________.

  1. Pertinent to decision at hand

  2. Difference in cost between alternatives

  3. Both (A) and (B)

  4. None of the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

In day to day business activities, the term 'relevant' indicates at the applicability of a certain decision that are taken in an organisation. 


These relates to how efficient and effective the decisions are in an organisation and how well does it relates to the matter of the problems for which it is taken. 

Multiple choice elements of business fundamentals of business activities characteristics of vocational activities basis of classification of business activities classification of business

A secretary is a custodian of __________.

  1. business information

  2. personal information

  3. secret information

  4. none of these
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The duties of a secretary include keeping the secret information to itself. Hence a personal secretary is a custodian of secret information.

Multiple choice elements of business fundamentals of business activities characteristics of vocational activities basis of classification of business activities classification of business

A person who acts as a confidential writer is a _________.

  1. worker

  2. secretary

  3. servant

  4. none of these
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Secretary means an officer who is generally entrusted with the responsibilities of writing and exchanging letters, maintain documents and performing confidential activities on behalf of someone or any organization.

Secretary is a officer who performs many confidential and important functions for a person or for an organization

Multiple choice elements of business fundamentals of business activities characteristics of vocational activities basis of classification of business activities classification of business

In ancient Indian literature, the post of secretary is referred as __________.

  1. Sachiva

  2. Scribae

  3. Secretaries

  4. None of these
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

In ancient Indian literature and historical documents the word 'Sachiva' was used for a secretary. Originally, the term 'secretary' was mainly related with the person who does writing work for his master.

Multiple choice elements of business fundamentals of business activities characteristics of vocational activities basis of classification of business activities classification of business

A secretary can be a firm or a corporate body.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation
(i) The Oxford Dictionary defines a secretary as a "A person, whose work is to write for others, especially one who is employed to conduct correspondence, keep records and to transact various other businesses for another person or for a society, corporation or a public body. 

(ii) A secretary must be an individual who can write for others. 

(iii) A firm or a corporate body cannot write for others. 

(iv) Hence, a secretary cannot be a firm or a corporate body.