Class 11 Commerce businessnature — practice questions
24 free MCQs with worked solutions. Tap any question for the answer + explanation, or practice them all in the app.
Practice Class 11 Commerce businessnature in the app →An activity undertaken with the objective of earning profit by producing or exchanging goods/services isWhich is a feature distinguishing a profession from a business?Economic activities are those undertaken toMining and extraction of minerals fall under which type of industry?Commerce includes trade andWhich is an auxiliary to trade?Industries that reproduce and multiply living organisms (plants/animals) are calledThe basic objective of business, besides profit, includesBusiness risk refers toConverting raw materials into finished goods is the work of which industry?Which is NOT a characteristic of business?Employment refers toWarehousing as an auxiliary to trade solves the problem ofTransport as an auxiliary to trade removes the hindrance ofInsurance as an aid to trade covers the hindrance ofA retailer selling directly to consumers is part ofThe two broad categories of human activities areBanking helps trade byTrade meansWhich is a liability of business ownership that distinguishes a sole proprietor from a company shareholder?Profit earned by a business serves asTertiary industries are also known as'Entrepot trade' refers toThe reward for the risk and effort of running a business is