Question:
If one starts a business, which objective will be of utmost importance to you and why?
Answer:
If one starts their own business, our social objectives will be of utmost importance to me because:
- It will create employment opportunities in the economy. He/she will make use of such methods which are desirable from society point of view.
- It will help us to provide good quality product at reasonable prices to customers.
- It will keep environment pollution free.
- When we will concentrate on these objectives, it will satisfy one consumers and employees.
Consumer satisfaction will lead to improvement in these goodwill and market standing. Employee satisfaction will lead to increase in productivity. These two factors will increase profits in the long run automatically.
Nature and Purpose of Business
Q 1.
Can profits be the sole objective of a business? Justify your answer by giving suitable reasons.
Q 2.
Explain the concept of business.
Q 3.
Explain political and legal causes of business risks.
Q 4.
What are the functions of commerce?
Q 5.
Define Profession. Discuss its salient features.
Q 6.
What are various types of industries?
Q 7.
"No business is risk free."Do you agree? Justify your answer, mentioning the nature and causes of business risk.
Q 8.
What is business risk? What is its nature?
Q 9.
Explain the characteristics of business.
Q 10.
If you need , to start doing an economic activity to earn livelihood for your family, which one would you like and why?
Q 11.
Explain any two business activities which are auxiliaries to trade.
Q 12.
Define commerce. Discuss its importance in the business world.
Q 13.
Why is business considered an economic activity?
Q 14.
State the different types of economic activities.
Q 15.
Compare business with profession and employment.
Q 16.
What is the role of profit in business?
Q 17.
Why does business need multiple objectives? Explain any five such objectives.
Q 18.
Explain with examples the various types of industries.
Q 19.
Explain the concept of business risk and its causes.
Q 20.
If one starts a business, which objective will be of utmost importance to you and why?
Q 21.
How would you classify business activities?
Q 22.
Compare business with profession and employment.
Q 23.
What factors are important to be considered while starting a business? Explain.
Q 24.
What are the hindrances in the commerce? Which agencies are used to remove these hindrances?
Q 25.
Distinguish between industry, trade and commerce.
Q 26.
Describe the activities relating to commerce.
Q 27.
Distinguish between industry, trade and commerce.
Q 28.
"Risk is the element which makes the business different from other economic activities."Do you agree? Justify your answer.
Q 29.
Explain the economic and social objectives of the business.
Q 30.
"Economic and non-economic activities don't substitute, but complementary to each other."Do you agree? Explain.
Q 31.
What are the functions of commerce?
Q 32.
"Earning of profits is the main objective of a business and other objectives are there to aid it only."Do you agree? Justify your answer.
Q 33.
Differentiate between economic and non-economic activities.
Q 34.
Differentiate between insurable risks and non-insurable risks.
