Tag: basis of classification of business activities

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

The industries which provide support services to other industries are known as ____________.

  1. Primary industries

  2. Secondary industries

  3. Commercial industries

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

Tertiary industries: These industries provides support to primary and secondary industries . Tertiary industry consits of : banking, transportation warehousing etc services.

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

Business risk is not likely to arise due to _____________.

  1. Change in government policy

  2. Good management

  3. Employee dishonesty

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

Business risks is the possibility that a company will have lower than anticipated profits in future or even experience a loss . If there is a good management in business there will be no chances of business risks.

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.