11th class Principles of Commerce chapter 1 online mcq test with answers for I.Com part 1 Principles of Commerce chapter 1(Concept of Business)

Principle of Commerce Icom Part 1 English Medium Chapter 1 Online Test

Sr. #	Questions	Answers Choice
1	A person who deals in ready made item is:	Manufacturer Worker Trader Distributor
2	If any person gets income on the basis of knowledge and skill then it is:	Business Economic activity Profession Trade
3	Which factor plays an important role in improving the standard of living of the people and economic development:	Trade Industry Commerce All the above
4	Income from business is called:	Profit Interest Satisfaction Utility
5	What does a business organization mean:	Sole tradeship Partnership Joint stock company All the above
6	Economic activity which gives:	Predetermined income Fixed income Both (a) and (b) None of these
7	For the sale of goods, a businessman depends upon:	The employees The relatives The demand of customers None of these
8	A business takes into account the following activities:	Economic Non-economic Social None of these
9	In order of determine the size of a business we consider:	The availability of the capital The demand of the goods The capacity of production All the above
10	The businessman is:	A trader A producer A distributor A trader, producer and distributor
11	The objective of non-economic activities is to:	Serve the society Earn profit Serve the society beside spiritual satisfaction Earning the fame
12	Economic activities mean:	Business Business and profession Business, profession and employment None of the above
13	Human activities consist of following activities:	Un-commended Commanded Commanded and un-commanded None of the above
14	The basic objective of business is:	Exchange Earning Profit Service to the society Earning foreign exchange for the govt.
15	A person who deals in ready made items is	Manufacturer Worker Trader Distributor

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