1 Worklng ln a parLlcular fleld ln whlch havlng experL knowledge and experLlse ls known as

__________
a) LmploymenL
b) rofesslon
c) 8uslness lndusLry
d) !ob
2 Where buylng and selllng of goods or servlces are frequenLly lnvolved
a) Servlces
b) 8uslness flrm
c) lace
d) 1rade
3 An ldenLlfy Lhrough whlch lLs acLlvlLles are broadly known________
a) lace
b) rofesslon
c) 8uslness lndusLry
d) 8uslness flrm
4 ______ ls Lhe phllosophy of Lhe governmenL and economlc sysLem based on Lhe bellef ln Lhe
worLh of each lndlvldual
a) Communallsm
b) Mlxed economy
c) Soclallsm
d) uemocracy
3 ________ ls an economlc sysLem are relaLlvely free Lo deLermlne how goods and servlces shall
be produced and alloLLed
a) CaplLallsm
b) Communallsm
c) Soclallsm
d) uemocracy
6 Modern buslness depends on proper esLlmaLlon of ____ Lrends ln Lhe markeL for lLs success
a) asL
b) luLure
c) CulLure
d) resenL
7 1he prlmary ob[ecLlve of buslness ls _________
a) Soclal
b) 1echnologlcal
c) CulLural
d) Lconomlc
8 ________ conslsL ln Lhe supply of Lhe requlremenL of Lhe consumers ln Lhe small quanLlLles
needed by Lhem
a) Whole sale Lrade
b) 8eLall
c) lnLernal Lrade
d) LxLernal Lrade
9 1hese lndusLrles lnvolve consLrucLlon of bulldlng roads dams brldges canals
a) CeneLlc lndusLrles
b) LxLracLlve lndusLrles
c) ManufacLurlng
d) lndusLrles
10 ln ________ economy prlvaLe enLerprlses ls permlLLed Lo funcLlon and flourlsh sub[ecL Lo conLrol
and resLrlcLlon by Lhe governmenL
a) Soclallsm
b) Communallsm
c) Mlxed economy
d) CaplLallsm
11 A documenL ln whlch all Lhe Lerms condlLlon are lald down ln legal formaL
a) arLnershlp deed
b) Sole proprleLorshlp
c) rlnclple agenL
d) LlmlLed parLnershlp
12 A parLner musL keep and render Lrue proper Lhe flrm from Lhe and correcL ______ of Lhe
parLnershlp
a) Words
b) 8ecords
c) AccounLs
d) Laws
13 1he unllmlLed llablllLles of parLners ln ordlnary parLnershlp dlscourages Lhe_______ lnvesLmenL
of large sums n Lhe flrm
a)