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01	Principles of Commerce ICOM Mcqs Chapter 01	02	Principles of Commerce ICOM Mcqs Chapter 02
03	Principles of Commerce ICOM Mcqs Chapter 03	04	Principles of Commerce ICOM Mcqs Chapter 04
05	Principles of Commerce ICOM Chapter 05	06	Principles of Commerce ICOM Chapter 06
07	Principles of Commerce ICOM Mcqs Chapter 07	08	Principles of Commerce ICOM Mcqs Chapter 08
09	Principles of Commerce ICOM Mcqs Chapter 09	10	Principles of Commerce ICOM Mcqs Chapter 10
11	Principles of Commerce ICOM Mcqs Chapter 11	12	Principles of Commerce ICOM Mcqs Chapter 12
13	Principles of Commerce ICOM Mcqs Chapter 13	14	Principles of Commerce ICOM Mcqs Chapter 14
15	Principles of Commerce ICOM Mcqs Chapter 15	16	Principles of Commerce ICOM Mcqs Chapter 16
17	Principles of Commerce ICOM Mcqs Chapter 17	18	Principles of Commerce ICOM Mcqs Chapter 18
19	Principles of Commerce ICOM Mcqs Chapter 19	20	Principles of Commerce ICOM Mcqs Chapter 20

Chapter # 01

Concept of Business

Encircle the most appropriate answer from the following options :

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1.The.basic objective of business is:

1. Exchange
2. Service to the society
3. Earning Profit
4. None of these

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2. Human activities consist of following activities:

1. Un-commended
2. Commanded
3. Commanded and uncommanded
4. None of these

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3. Economic activities mean:

1. Business
2. Business and profession
3. Business, profession and employment
4. None of the above

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4. The objective of non-economic activities is to:

1. Serve the society
2. Earn profit
3. Serve the society beside spiritual satisfaction
4. Earning the fame\

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5. The businessman is:

1. Å trader
2. A producer
3. A distributor
4. A trader, producer and distributor
   

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6. A business takes into account the following activities:

1. Non-economic
2. Economic
3. None of these
4. Both

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7. For the sale of goods, a businessman depends upon:

1. The employees
2. The relatives
3. The demand of customers
4. None of these

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8. Economic activity which gives:

1. Predetermined income
2. Fixed income
3. Both (a) and (b)
4. None of these

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9. What does a business organization mean:

1. Sole tradership
2. Partnership
3. Joint stock company
4. All the above

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10.Income from business is called:

1. Profit
2. Interest
3. Satisfaction
4. Utility

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11.1f any person gets income on the basis of knowledge and skill then it

1. Business
2. Employment
3. Profession
4. Trade

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12.A person involved in different economic activities for the purpose of profit is called•

1. Business man
2. Trader
3. Industrialist
4. None of these

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13.A person who deals in ready made items is:

1. Manufacturer
2. Worker
3. Trader
4. Distributor

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