Management MCQ’s Overview of Business

TOPIC 1: OVERVIEW OF BUSINESS

Sr.
Statement Option (a) Option (b) Option (c) Option (d) Ans
No.
Global
Gross Domestic Gross Domestic Global Development
1 GDP stands for _________________________________. Development a
Product Process Process
Product
Gross National Gross National Global National Global National
2 GNP stands for _________________________________. a
Product Process Process Product
"A commercial, industrial or professional activity
undertaken by an individual or a group, for purchase
3 Budget Business Economy Education b
and sale of goods, providing services etc. in any
attempt to make a profit is called _______________."
______________________ may be refer to particular area of
economic activity such as the real estate business,
4 Construction Business Balance Sheet All of these b
computer business, poultry, farming,
telecommunication, shipping, tours and travels, etc.
Business is the process of providing platform to the
technical,
5 people to exhibit their ________________ and _______________ technical, economical thinking, mental technical, mental c
managerial
skills.
What does a business provide to the customers in knowledge and
6 goods and services profit and loss debt and credit a
exchange of their money? satisfaction
"According to Peter Drucker, the purpose of business is to create and keep to gain success in to satisfy
7 to get money b
___________________________." customers market customers

8 Which are different types of business? Service Manufacturing Trade All of these d

9 Which one of these is not a type of business? Service Manufacturing Trade All of these d

Service enterprise provides the services that are called

10 Service Manufacturing Trade All of these a
as _________________.

11 Service industry is ___________ sector in economy. Primary Secondary Tertiary All of these c

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 Management MCQ’s Overview of Business

___________________ is the fastest growing sector in India

12 Service Manufacturing Trade All of these a
now-a-days.

13 ______________ is described as willing exchange of goods. Service Manufacturing Trade All of these c
___________________ business has elevated the Indian
14 population above poverty line by shifting the majority Manufacturing Trade Service None of these a
of the workforce out of low-wage agriculture.
___________________ business aims to identify factors
15 hampering industrial growth and seeks to redress the Service Manufacturing Trade All of these b
above factors.
Small and Medium Small and Medium Small and Medium Small and Medium
16 SME's stands for _______________________________. a
sized enterprises sized entity sized enrolment sized effects

production of
17 Manufacturing is ____________________________. completing demand gaining profit None of these b
merchandize

18 Commerce is also called as __________________. Service Manufacturing Trade All of these c

19 Traders make profit in form of __________________. Loans commissions shares None of these b

The two types of trade are ___________________ and bilateral,

20 direct, indirect internal, external local, global b
____________________. multilateral
All exports and imports activities are governed by Trade and Business Foreign Trade
21 Global Policy Fiscal Policy a
_______________________________. Policy Policy
_______________ Industry is the largest segment in Indian
22 Textile Chemical Process Engineering d
Industry.
Civil and Electronics and
23 Name the two segments of engineering sector. Heavy and light None of these a
mechanical telecommunication
"Primary production processes are either continuous,
24 or occur on a batch of materials that is indistinguishable distinguishable clear perfect a
______________________."
Which one of the following does not belongs to Process Information
25 Chemical Textiles Agro d
Industry? Technology

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 Management MCQ’s Overview of Business

26 Different types of Process Industry are: General Chemical Heat All of these d

27 Which process is the part of textile industry? Spinning Weaving Dyeing All of these d

28 Textile industry does not produce ______________. Polythene Cotton Wool Jute a

___________ and _____________ are produced in largest cosmetics and polymers and soaps and
29 soda and soap c
quantity in chemical industry. paper plastics detergents

Which one out of the given options is not a broad Consumers

30 Basic chemicals Durable products Life sciences b
category of chemical industry? products
Agro-industry mainly comprises of the ________________
31 activities of processing and preserving agricultural pre-harvest post-harvest crop-yielding All of these b
products for intermediate or final consumption.
_______________ Industries are owned and run by rural
32 households with very little capital investment and a Village Small scale Large Scale Medium Scale a
high level of manual labour.
Which types of industries are characterized by
33 Village Small scale Large Scale Medium Scale b
medium investment and semi-automation process?
Which type of industries involves large investment and
34 Village Small scale Large Scale Medium Scale c
a high level of automation process?
Special Economic Special Engineering Special Element
35 SEZ means ______________________________. Special Export Zones b
Zones Zones Zones

36 IT sectors involves ____________________. ITES Telecommunication (a) and (b) None of these d

IT Enterprise
37 ITES stands for ____________________. IT Enabled Services IT Enabled System All the above a
Services
_______________ Industry is the sunshine sector of Indian Information
38 Chemical Agro Process a
economy. Technology
_____________ is popularly known as the Silicon Valley of
39 Mumbai Hyderabad Bengaluru Kolkata c
India and IT capital of India.
____________ also known as Cyber City is the major IT
40 and BPO hub in India which has major IT MNC’s Mumbai Hyderabad Bengaluru Kolkata b
together and hence called as Hi-tech City.

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 Management MCQ’s Overview of Business

Business Procedure Business Process Business Process

41 BPO stands for _____________________________. All the above b
Outsourcing Outsourcing Organization
Knowledge Procedure Knowledge Process Knowledge Process
42 KPO stands for _________________________________. All the above b
Outsourcing Outsourcing Organization

Insurance company is categorized as

43 Life Insurance General Insurance All of these None of these c
______________________.

Hospitality industry is categorized as

44 Food and beverages Accommodations Travel and tourism All the above d
_____________________.
Indian Travel Indian Tourism Indian Tour
45 ITDC stands for __________________________________. Development Development Development All the above b
Corporation Corporation Corporation
46 India is awarded a certification of _________ free country. Cancer Polio Swine Flu AIDS b
India is awarded a certification of POLIO free country
47 WHO WTO NHO All the above a
by _____________.
Liberalization,
Liberal, Private, Lateral, Postal,
48 LPG stands for _________________________________________. Privatization, None of these a
Global Global
Globalization
Global Agreement Global Assessment
Global Agreement on Global Assessment
49 GATT stands for ____________________________________. on Traffics and on Traffics and a
Tariffs and Trade on Tariffs and Trade
Trade Trade
International Trade Indian Trade International Tariff Indian Tariff
50 ITO stands for ___________________________. a
Organization Organization Organization Organization
World Trade Western Trade Western Tariff World Tariff
51 WTO stands for ___________________________. a
Organization Organization Organization Organization
The Indian Textile industry was predominantly polymers and
52 wool cotton fabrics b
__________________ based during post-independence. plastics
The main function of Insurance Company is to provide
53 to provide certainty to share risk All of these d
________________________. protection
___________________ Industry primarily refers to
54 manufacturing that is associated with formulas, Engineering Process Textile Hospitality b
procedure, development, method and practice.
___________________ Industry primarily deals with the
55 Engineering Process Textile Hospitality a
design, manufacture and operation of structures,

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 Management MCQ’s Overview of Business

machines or devices.

56 Globalization leads to _______________________ . destroy environment reduce competition increased terrorism increase income a
___________________________ is the process of
57 transformation of a regional phenomenon into global Organization Liberalization Privatization Globalization d
ones.
58 Which company is associated with Insurance? LIC ICICI Star Health All of these d

59 Which one is not the textile industry? Raymond Reliance Century ICICI d

The goals of enterprise are fulfilled through the use of

60 Man Machine Materials All of these d
resources like

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