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 involved in different economic activities for the purpose of earning profit is called	Business man Trader Industrialist Professional
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 tradership 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 to 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 end employment None of the above
13	Human activities consist of following activities	Un-commanded 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

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