Tag: business as an activity

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Questions Related to business as an activity

Multiple choice business organisation and correspondence classification of busniess activities business as an activity meaning and types of trade trade and aids to trade

_______ is essential for satisfaction of human wants.

  1. Shareholders

  2. Competition

  3. Trade

  4. All of the above
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Trade involves the transfer of goods or services from one person or entity to another, often in exchange for money. A system or network that allows trade is called a market. An early form of trade, barter, saw the direct exchange of goods and services for other goods and services.

An example of trade is the tea trade where tea is imported from China and purchased in the US. An example of trade is when you work in sales. An example of trade is the act of exchanging one item for another or one item for money.

Multiple choice business organisation and correspondence classification of busniess activities business as an activity meaning and types of trade trade and aids to trade

_______ is required to undertake the business activities is provided by banking and financing institutions.

  1. Capital

  2. Investment

  3. Liability

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

Wealth in the form of money or assets, taken as a sign of the financial strength of an individual, organization, or nation, and assumed to be available for development or investment. 2. Accounting: Money invested in a business to generate income.

They are purchased and used to help your company produce consumer goods or provide services. They are reported as assets on a company's balance sheet and often can be depreciated over time. Examples of capital goods include buildings, machines, equipment, furniture and fixtures.

Multiple choice business organisation and correspondence classification of busniess activities business as an activity meaning and types of trade trade and aids to trade

Among the aids to trade, ________ removes the hindrance of risk.

  1. transport

  2. warehousing

  3. insurance

  4. banking and finance
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Insurance is a means of protection from financial loss. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss. An entity which provides insurance is known as an insurer, insurance company, insurance carrier or underwriter. Insurance coverage is the amount of risk or liability that is covered for an individual or entity by way of insurance services. Insurance coverage, such as auto insurance, life insurance or more exotic forms, such as -one insurance is issued by an insurer in the event of unforeseen occurrences.

Multiple choice business organisation and correspondence classification of busniess activities business as an activity meaning and types of trade trade and aids to trade

_______ helps to highlight the distinctive features and utility of different products.

  1. Advertising

  2. Communication

  3. Warehousing

  4. Branding
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation
Advertising is a marketing communication that employs an openly sponsored, non-personal message to promote or sell a product, service or idea. Sponsors of advertising are typically businesses wishing to promote their products or services Advertising is the business or act of making something known to the public, usually through some type of paid media. An example of advertising is a company specializing in designing and implementing newsprint ads for other company's products.
Multiple choice business organisation and correspondence classification of busniess activities business as an activity meaning and types of trade trade and aids to trade

Banks also facilitate in international trade by providing long-term financial assistance.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

International trade is the exchange of capital, goods, and services across international borders. banks provide financial assistance by providing loans, credit letter etc which encourages importers and exporters to go global 

Multiple choice business organisation and correspondence classification of busniess activities business as an activity meaning and types of trade trade and aids to trade

Customers can be made aware of the availability of goods through ______.

  1. distribution

  2. warehousing

  3. banking

  4. advertisement
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Advertising is the attempt to influence the buying behavior of customers or clients with a persuasive selling message about products and/or services. 


In business, the goal of advertising is to attract new customers by defining the target market and reaching out to them with an effective ad campaign.

Multiple choice business organisation and correspondence classification of busniess activities business as an activity meaning and types of trade trade and aids to trade

___________ creates time utility by supplying the goods at the right time to the consumer.

  1. Transportation

  2. Communication

  3. Insurance

  4. Warehousing
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Warehousing creates time utility by storing goods produced in advance and making them available to consumers exactly when they are needed.

Multiple choice business organisation and correspondence classification of busniess activities business as an activity meaning and types of trade trade and aids to trade

_____ is the agency which facilitate proper flow of goods.

  1. Government

  2. Trade

  3. Banking

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

The trade involves the transfer of goods or services from one person or entity to another, often in exchange for money. A system or network that allows trade is called a market. 

An early form of trade, barter, saw the direct exchange of goods and services for other goods and services. An example of trade is when you work in sales. An example of trade is the act of exchanging one item for another or one item for the money.

Multiple choice business organisation and correspondence classification of busniess activities business as an activity meaning and types of trade trade and aids to trade

_______ helps in bring about stable and uniform prices indifferent markets as traders are able to equalize the supply of goods at different places according to demand.

  1. Transport

  2. Warehousing

  3. Banking

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

Transportation is a major contributor to the economy and a competitive force in business. It is the activity that physically connects the business to its supply chain partners, such as suppliers and customers, and is a major influence on the customer's satisfaction with the company.

Multiple choice business organisation and correspondence classification of busniess activities business as an activity meaning and types of trade trade and aids to trade

The buyers and sellers are intimated through various communicating agencies.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Buyers demand goods and services; sellers supply goods and services. Markets exist when buyers and sellers interact. This interaction determines market prices and thereby allocates goods and services. The price is what people pay when they buy a good or service, and what they receive when they sell a good or service.