MBA Nature and Purpose of Business — practice questions
22 free MCQs with worked solutions. Tap any question for the answer + explanation, or practice them all in the app.
Practice MBA Nature and Purpose of Business in the app →The word business is derived from which everyday word?A boy helping an old man cross the road is performing:Economic activities are divided into which three categories?Cooking food at home for the family is not business, but cooking and selling it in a restaurant is, because buA person who sells his own old radio once at a profit is not in business because business needs dealings that Not knowing how much money the firm will earn this year is called:Risk in business is best described as the uncertainty associated with:Which of these is a cause of business risk?The reward earned in a profession is called a:A doctor must hold membership of a professional body and a certificate of:Transfer of interest to another person is possible in which of the three economic activities?Business activities are broadly classified into which two categories?A firm that mines iron ore belongs to which kind of industry?A poultry farm that breeds birds for further reproduction is an example of a:Manufacturing steel from raw iron is which kind of industry?An oil refinery that separates different elements from the same material is a:A cement plant that combines various ingredients into a new product is a:Sugar and paper are made through successive stages, which makes them examples of a:A plant that joins component parts to make televisions and cars is an:Building dams, bridges and roads falls under which industry?Transport, banking, insurance and warehousing belong to which industry group?Commerce is made up of trade together with: