Factors Involved in Starting a Business

Q.

State the different types of economic activities.

Q.

Why is business considered an economic activity ?

Q.

Discuss the arguments in favour of social responsibility of business.

Q.

Give the classification of funds on the basis of ownership.

Q.

The money which is borrowed from other is called __________.

1. Profit

2. Debt

3. Mortgage

4. Investment

Q.

Identify the activities that are undertaken to earn a living?

1. Political activities

2. Social activities

3. Environment activities

4. Economic activities

Q.

Mr.Peter is planning to start a clothing store, in a shopping mall. He will be hiring 4 salesmen, 2 tailors, and 1 designer for the store. Peter got a chance to join his friend and be a partner in a clothing firm but he chose not to.
The above-mentioned passage has a set of characteristics in starting a business. Choose the correct order.

1. 1. Selecting the line of business. 2.. Choice of forms of ownership. 3.Size of the business. 4. Choice of location.

2. 1. Selecting the line of business. 2.Choice of forms of ownership. 3. Choice of location. 4. Size of the business.

3. 1.Choice of forms of ownership. 2. Choice of location. 3. Size of the business. 4. Selecting the line of business

4. 1. Selecting the line of business. 2. Size of the business. 3. Choice of forms of ownership. 4. Choice of location.

Q. ___ activities include fulfillment of social, emotional and personal needs.

Q.

State True or False.

If Mr.Peter plan to borrow funds, then he will have to compensate the lender by paying some monetary charge or share from the earnings of his business.

1. True

2. False

Q. Personal consumption is not included in ___.

Q.

What is an economic activity?

Q. Find the synonym of the underlined word.
The new tax law is explicit; there can be no doubt that type of computers is tax-exempt.

1. Definite
2. Deficient
3. Vague
4. Imprecise
5. Unfair