Multiple Objectives of Business

Q.

What is the role of profit in business ?

Q.

Explain any three economic objectives of business.

Q.

'Profit earning is not the only objective of the business ? Give any four reasons to justify the statement.

Q.

‘Company has social responsibility towards shareholders or owners’. How?

Q.

What is innovation?

1. \N
2. \N

3. It is the introduction of new ideas or methods in the way something is made or done.

4. It is the introduction of old ideas to form something.

Q.

'Business is an organised institution that operates to provide goods and services under the incentive of private gain'. Discuss.

Q.

Why does business need multiple objectives? Explain any five such objectives.

Q.

'Profit is not an objective but a requirement of businees', Do you agree with this statement? Explain.

Q.

Market standing refers to the position of an enterprise in relation to its competitors.

1. True

2. False

Q.

Profit is the only motive behind a business activity.

1. Yes

2. No

Q.

Why do business follow multiple objectives?

Q.

Define productivity

1. It is achieved by comparing the value of output and interest.

2. It is achieved by comparing the value of output and loss.

3. It is achieved by comparing the value of output with debt.

4. It is achieved by comparing the value of output with the value of inputs.

Q.

What is the role of profit in business?

Q.

Which are the two kinds of innovation?

1. 1. Product innovation 2. Technology innovation.

2. 1. Performance innovation 2. Supply innovation.

3. 1. Product innovation 2. Supply innovation.

4. None of the above

Q.

State the role of profit in business.

Q.

State True or False. Doing social work and delivering competitive goods and services would certainly help in building a good reputation of the business.

1. True

2. False

Q. ___ is the introduction of new ideas or methods in the way something is done or made.

Q. ___ determine their contribution towards productivity and profitability of any enterprise.

Q. Which of the following was a marketing innovation of General Motors in the 1920s to help consumers buy more expensive cars?

1. Discounts for trading in an old car
2. Subliminal advertising
3. Bargaining
4. Rebates
5. The installment plan

Q. Which of the following alternatives best expresses the meaning of the phrase "Come about"?

1. Procure
2. Get
3. Acquire
4. Come for help
5. Happen

Q. _______ believes that the concept of innovation, described as the use of an invention to create a new commercial product or service, is the key force in creating new demand and thus, new wealth.

1. Dr. Marshall
2. John Schumpeter
3. Joseph Schumpeter
4. Peter Drucker

Q. Choose the appropriate meaning of the underlined word:
Because it was a poor school, it had to innovate to convey to the young students the message of science.

1. Do cheap experiment
2. Introduce new things
3. Avoid
4. Try hard

Q. In perfect competition, in the long run there will be no __________.

1. normal profits
2. supernormal profits
3. production
4. costs

Q. 9. A firm under monopolistic competition cannot influence market price. (true/false)

Q. Write short notes on.

Technological Environment.

Q. Long answer Type questions

Define business, Explain its features.

Q. Write short answers of the following

State the features of business

Q. Long answer Type questions

Explain the importance of profit in business.