1. What does business mean?
(A) Industry and commerce
(B) Trade and commerce
(C) Commerce
(D) Selling and buying of goods
2. Economic activity does not include?
(A) A student playing cricket
(B) Doctor is practicing
(C) Both A and B
(D) None of these
3. The valid definition of business purpose is to?
(A) Maximize profit
(B) Create customer
(C) Both A and B
(D) Serve the society
4. The minimum number of members in a private company limited is?
(A) 3
(B) 7
(C) 10
(D) 2
5. Co-operative membership includes?
(A) Compulsory
(B) Not essential
(C) Voluntary
(D) None of these
6. The minimum number of members required for the registration of a co-operative society are?
(A) 7
(B) 10
(C) 3
(D) 20
7. Which act is used by the government to check restrictive trade?
(A) FEMA act
(B) Industrial policy act
(C) MRTP act
(D) None of these
8. When a company takes over another one and clearly becomes the new owner, the action is called?
(A) Acquisition
(B) Merger
(C) Both A and B
(D) None of these
9. Images and brand equity of the company affect business how?
(A) Internally
(B) Government policy
(C) Both A and B
(D) Externally
10. Which sector is not opened for private sector participation?
(A) Railways
(B) Power sector
(C) Both A and B
(D) Education sector
11. The economic system based on the principle of free enterprise is?
(A) Socialism
(B) Mixed Economy
(C) Capitalism
(D) None of these
12. The method of privatization does not include?
(A) Franchising
(B) Denationalization
(C) Both A and B
(D) Sale of business
13. Industrial policy resolution was first passed in?
(A) 1999
(B) 1956
(C) 1947
(D) 1941
14. Planning process is?
(A) Goal-oriented
(B) Flexible
(C) Time-bound
(D) All of these
15. The term globalization is used to describe the process of removal of the restriction on?
(A) Investment
(B) Foreign trade
(C) Both A and B
(D) None of these
16. The founder of scientific management was?
(A) Elton Mayo
(B) Chester Barnard
(C) Henri Fayol
(D) Frederick Taylor
17. Which among these is not a restrictive trade practice?
(A) Price discrimination
(B) Manipulation of price
(C) Tie-up sales
(D) None of these