Which of the following is not an economic activity?

Production Social service Professional Trading in goods

Which option is not a business activity?

Production of goods Transportation Exchange of goods Work in a factory for wages

Which of the following is the characteristic of a business?

Production Exchange or sale Risk element All the above

Oil refinery and sugar mill are classified under which industries?

Primary Secondary Tertiary None of the above

Identify the activity which does not support trade.

Banking Warehousing Insurance Mining

In which occupation do people get salary or wages in return for their work?

Employment Business Profession None of the above

Which item does not cause any business risk?

Breakdown of machinery Efficient management Riot Changing government policy

In which business, the support service activities are categorized?

Commercial industries Primary industries Secondary industries Tertiary industries

In business, why is it essential to make a profit?

It provides a return to investors. It provides funds for future extension It increases the reputation of a company All the above

Which of the following is a false statement?

The scope of commerce is narrower than business. Commerce includes trade and auxiliaries to trade. Foreign trade is purchase and sale by the traders of the same country. Traders serve as a link between producers and consumers.

Which of the following is not a management function?

Planning Staffing Cooperating Controlling

Policy formulation comes under which role?

Top-level managers Middle-level managers Operational management All of the above

Management is defined as?

An art A science Both art and science None of the above