Characteristics of Business

Q.

Define services and goods.

Q.

How would you classify business activities ?

Q.

Explain any two business activities which are auxiliaries to trade.

Q. Activities undertaken with the main aim of earning money and creation of wealth are known as activity.

1. business
2. service
3. economic
4. non-economic

Q.

Briefly explain any four auxiliaries to trade.

Q.

Discuss the importance of commerce as an economic activity.

Q. ___ refer to the possibility of inadequate profits or even losses due to uncertainties or unexpected events which a business cannot control.

Q.

Explain the characteristics of business.

Q. In business, Dealings in goods and services should be on ___ basis.

Q.

Under which of the following circumstances is a company not likely to declare a higher dividend?

Q. When a doctor treats his own daughter at home it becomes a/an activity.

1. business
2. service
3. non-economic
4. economic

Q.

What are the examples of goods and services?

Q.

Mr Ronald sells shoes regularly. There is a continuous buy and sell activities that take place between buyers and sellers of various items. He puts all his money and other resources to earn more than he invests. There is an uncertainty of returns. He invests his money to earn a return on his investment, but it is never certain as to what amount of profit will be earned.
Identify the business activities from the above passage.

1. 1. Dealings in goods and services on a regular basis

   2. Earn profits

   3. Risk of goods and services

2. 1. Dealings in goods and services on a regular basis

   2. Earn profits

3. None of the above

4. 1. Dealings in goods and services on a regular basis

   2. Earn profits

   3. The uncertainty of returns
   

Q.

Mr.Ronald owns a shoe store. He has 50 employees working for him. He buys the leather from suppliers, gets them stitched and designed from outside, and sells them at his store. The customers were happy with the quality of shoes they purchased and visited the store frequently.

What are the characteristics that can be seen from the above passage?

1. 1. Production or procurement of goods and services

   2. An economic activity

2. 1. An economic activity

   2. Production or procurement of goods and services

   3. Sale or exchange of goods and services for the satisfaction of human needs

3. 1. An economic activity

   2. Sale or exchange of goods and services for the satisfaction of human needs

4. 1. An economic activity

   2. Uncertainty of returns

Q.

Explain the characteristics of business.

Q. The following five sentences come from a paragraph. The first and the last sentences are given. Choose the order in which the four sentences (P, Q, R, S) should appear to complete the paragraph.
S1. We would like to thank you once again for having selected our dealership.
S2. __________________________________________________________
S3. __________________________________________________________
S4. __________________________________________________________
S5. __________________________________________________________
S6. We look forward to a long lasting relationship and wish you safe motoring.

1. SPQR
2. RPSQ
3. SQPR
4. QRPS

Q. An employee is writing a letter to his manager regarding an issue in the workplace. Which of the following is an appropriate complimentary close for the letter?

1. Yours,
2. With love,
3. Yours faithfully,
4. Affectionately,

Q. You have been offered a position at a company. You plan to write a letter to the company accepting the offer. Which of the following options is the most appropriate subject for the letter?

1. Thank you for your offer
2. I have accepted your offer
3. In response to your job offer
4. Acceptance letter