nic activities relate to : on of wealth Iping the society Satisfy human wants Earn profit mary aim of a business is to : (a) Help its employees Earn profits industry is related to : (@) Manufacturing of goods (c) Exchange of goods (b) Social relationship (a) Satisfying psychological needs conomic activities are taken up to : (b) Satisfy social needs (d) Increase profits (b) Help society (d) Increase business (b) Trading (d) None of these(b) Extractive industry (d) Genetic industry (b) Provision to service (d) Manufacturing goods (b) Undertaking business (d) Social service ‘Undertaking contract ich of the following is not an economic activity? a) Working in a field (b) Working in a restaurant ) Cooking food at home (d) working in an office a work done for getting remuneration is called : (a) Profession (b) Employment (©) Business (d) All of these “ Providing selfless service is called : (a) Professional activity (b) Economic activity Pic economic activity (d) Service activity Profit is the reward in : (a) Profession (b) Service Business (d) Non-profit business { Which activity does not require investments ? (a) Profession ) Employment (c) Social Work (d) Tratiing , Which economic activity creates utilities ? (a) Business (b) Employment (c) Profession (d) Social service AS. Which of the following activity, has element of risk ? (a) Service §?) Business (0) Profession (d) None of these 16: Cattle breeding is covered under : (a) Genetic industry (b) Extractive industry “ (¢) Secondary industry (d) Primary industry The processing of already produced materials come under * Primary industry 8 Secondary industry fertiary Industry (d) Production industry a “sh atakes between se is called = place two countries, it is : A (b) External trade (d) Regional trade following is a service industry ? Sia (b) Mining Financing (d) Genetic service industry creates ‘place utility’ ? (b) Transport Warehousi (a) Advertising Dives ers of business is removed by advertising industry ? (a) Finance (b) Information (d) Place Answers 2 4) 5.(c) 6.(b) 7 (c) 8.(2) 9 Ci (« 12. O 13. 14. (a) 15. (b) 16. (a) 417. (b) 18. (a) ) 24. (c) 22. (b) 23. (b) WB. Fit IN THE BLANKS (A@ Business means, exchange of goods and services for mutual (benefit, activities) ce A business should aim at serving the at large. (employees, society) a An... - transaction will not be called business (regular, isolated) pA Business creates various types of (benefits, utilities) Trade is the process of taking goods from to consumers. (wholesalers, producers) 4 BE sinckance of knowledge is removed with the help of in goods. (advertisement, agent) . Hindrance of risk is removed by ............. (insurance, government) . _AbswersB® C. Say True or FALSE ' ~ A business is associated with economic activities. 2, A profession does not involve any risk. A business creates various types of utilities in goods. ~ Profit earning is the main aim of business. All activities undertaken to earn money are called business activities. Professional services provided by a doctor is a business. 2] & housewife cooking at home is a profession. A person engaged in social work is an employment. Same activity can be economic activity as well as non-economic activity. Purchase of raw materials by a manufacturer is a trading activity. Providing banking services is an aid to trade. Creating markets for a business is a human activity. Co-operation with the government by a business is a social objective Avoiding environment pollution by a business is an economic objective. Earning profit cannot be the sole objective of a business. Answers Moe 3.) 4ST) (7) 40. (F) 11.(T) 12.(F) 13.(T) 14. (F) 415. (7) rT .,nrawnnion(b) Defining authority and respot (d) Increasing effectiveness i ial efficiency mm nl of activities (b) Decentralisation of activities irork (d) Concentration of activities a) Creation of formal relationships in an organisation (b) Conscious co-ordination of activities (©) Relationship among people outside the organisation Relationship based on personal likes and dislikes -emanee should have : ) Multiplicity of objectives (b) Centralisation of work -) Decentralisation of work () Distribution of work An organisation involves : (2) Division of work (c) Distribution of work (b) Concentration of work (d) Decentralisation of work Abpswers my Bic), .3-(2) 4.(2), Bata)® C. Say True or FALse Fi, Mganisation involves division of work A 900d organisation helps in achieving individual goals. ‘An organisation is 2 soft science. Glassical writers viewed organisation as a machine. JF New classical organisation theory laid more emphasis on external factors. JF Modern organisation theory was developed in 1947. Sel Organisation manual provides information about organisation. 'P Organisation deals with division of work for separate related tasks. 2% Informal organisation is based on formal organisational relationship. B® The authority flows upward in line organisation. “a A formal organisation assigns authority to carry out different activities. There should be a balance between authority and responsibility Answers am 4 &O 6M Be 42. (7) EES Exercise en