21. A business refers to an entity or organization engaged in _________.
(a) industrial
(b) commercial
(c) professional
(d) All of these
22. Based on economic activity, businesses are categorized in _________.
(a) manufacturing
(b) service
(c) trading
(d) All of these
23. Based on size, businesses are categorized into _________.
(a) Micro & Small Scale
(b) Medium Scale
(c) Large Scale
(d) All of these
24. Business can be categorized on the basis of
(a) Nature
(b) Size
(c) Scale or Ownership
(d) All of these
25. Business involved in purchase and sale of goods or services are __________.
(a) economic or social motive
(b) trade based
(c) regular transactions
(d) All of these
26. Businesses have the sole motive of social welfare are called ________.
(a) economic or social motive
(b) trade based
(c) regular transactions
(d) All of these
27. Which person is responsible for taking the initiative of establishing, running and growing the business, making key decisions and undertaking the risks involved with it?
(a) Entrepreneur
(b) Forerunner
(c) Businessmen
(d) All of these
28. A ________ is defined as an enterprise or organization that uses economic inputs or resources, converts them into goods or services and provides them to its customers in exchange for money.
(a) Business
(b) Trading
(c) Business Entity
(d) None of these
29. Which one is not a valid type of business?
(a) Service Business
(b) Trading Business
(c) Manufacturing Business
(d) Selling Business
30. In Which business raw materials are converted into the tangible product?.
(a) Service Business
(b) Merchandising Business
(c) Trading Business
(d) Manufacturing Business
31. _______ businesses source product s that can be used as raw materials, with the intention of converting these materials to make an end product..
(a) Service
(b) Merchandising
(c) Trading
(d) Manufacturing
32. The product or output of _______ businesses can be directly sold in the consumer market or could be a product that can be used in the value chain.
(a) Service
(b) Merchandising
(c) Manufacturing
(d) Trading
33. _______ businesses focus on transformation of one product to create a new product.
(a) Manufacturing
(b) Merchandising
(c) Trading
(d) Service
34. _______ businesses combine raw materials, technology, labor, plant and machinery and overheads in the process of production.
(a) Service
(b) Manufacturing
(c) Trading
(d) Merchandising
35. Identify which business is not a service business.
(a) banks
(b) selling of shoes
(c) law firms
(d) financial consultant
36. As mentioned in the tertiary sector, a __________ is involved into provision of intangible offering,
(a) service business
(b) manufacturing business
(c) merchandising business
(d) trading business
37. _________ offer a service that does not have a physical form but provides value to the customer.
(a) manufacturing business
(b) service business
(c) merchandising business
(d) trading business
38. _________ offer value using skills, consultancy, expertise, efficiency etc.
(a) manufacturing business
(b) service business
(c) merchandising business
(d) trading business
38. School or Education or Coaching comes under which business category?
(a) manufacturing business
(b) service business
(c) merchandising business
(d) trading business
39. Banks, Law Firms, Chartered Accountants, Financial Consultants are comes under which business category?
(a) manufacturing business
(b) service business
(c) merchandising business
(d) trading business
40. e-Commerce platforms, Event planners & beauty salons are comes under which business category?
(a) manufacturing business
(b) service business
(c) merchandising business
(d) trading business
