Question # 1

Income from business is called:

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Profit

Interest

Satisfaction

Utility

Economic activity which gives:

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Predetermined income

Fixed income

Both (a) and (b)

None of these

In order of determine the size of a business we consider:

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The availability of the capital

The demand of the goods

The capacity of production

All the above

The basic objective of business is:

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Exchange

Earning Profit

Service to the society

Earning foreign exchange for the govt.

What does a business organization mean:

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Sole tradeship

Partnership

Joint stock company

All the above

Which factor plays an important role in improving the standard of living of the people and economic development:

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Trade

Industry

Commerce

All the above

A business takes into account the following activities:

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Economic

Non-economic

Social

None of these

The objective of non-economic activities is to

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serve the society

Earn profit

Serve the society beside spiritual satisfaction

Earning the fame

If any person gets income on the basis of knowledge and skill then it is:

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Business

Economic activity

Profession

Trade

Human activities consist of following activities:

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Un-commended

Commanded

Commanded and un-commanded

None of the above

A business takes into account the following activities

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Economic

Non-economic

Social

None of these

Economic activities mean

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Business

Business and profession

Business, profession end employment

None of the above

For the sale of goods, a businessman depends upon

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The employees

The relatives

The demand of customers

None of these

For the sale of goods, a businessman depends upon:

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The employees

The relatives

The demand of customers

None of these

A person involved in different economic activities for the purpose of earning profit is called

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Business man

Trader

Industrialist

Professional

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Principle of Commerce Icom Part 1 English Medium Chapter 1 Online Test MCQs With Answers

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