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CBSE Questions for Class 11 Commerce Business Studies Business Trade And Commerce Quiz 12 - MCQExams.com
CBSE
Class 11 Commerce Business Studies
Business Trade And Commerce
Quiz 12
Which of the following represents the concept of trade-offs?
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A movement from point A to point B
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A movement from point U to point C
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Point W
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Point U
Explanation
A shift from A to B indicates that to produce 8 units of consumer goods, 10 units of capital goods are to be sacrificed which refers to trade offs as more goods are sacrificed in order to produce some amount of other goods.
The economic profit at Nicole's factory is:
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Rs. 75000
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Rs. 35000
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Rs. 80000
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Rs. 30000
Explanation
Economic profit can be defined as the difference between total revenue and total cost.
Total revenue=1000*100 = 100000
Total cost= 20000 for raw materials + 50000 from her savings = 70000
Economic profit = 100000 - 70000
The economic profit at Nicole's factory is Rs. 30000.
"A business Organisation is an enterprise engaged in the production or distribution of goods for sale in a market or rending services for a price" are the words of ______.
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Max Webber
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Bayard O Wheeler
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Richard Norman Owens
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None of the above
Explanation
The definition of business organisation " A business organisation is an enterprise engaged in the production or the distribution of goods for the sale in a market or rendering services for a price" is in the words of Richard Norman Owens.
Which of the following statements is incorrect regarding Disinvestment?
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Government has raised budget dis-investments in the capital market
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Procedure adopted for disinvestment has suffered from adhocism in the absense of a long term policy
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It means selling of Govt. Share in the PSU to other PSU or Private Sector or Banks
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It has been too insignificant to affect either the structure of management or the working environment of the PSU in India
Explanation
Government has raised budget dis-investments in the capital market- this statement is incorrect regarding Disinvestment.
Disinvestment of the public sector can be defined as a process of transferring the ownership of any enterprise from public to private sector.
It has been too insignificant to affect either the structure of management or the working environment of the PSU in India.
As a consequence of economic reforms, the MRTP Act 1969 was replaced by competition Act in the year __________ .
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2001
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2002
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2003
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2004
Explanation
Monopolies and Restrictive Trade Practices act, 1969
was enacted to prevent the concentration of economic power to common detriment, control of monopolies, and prohibition of monopolistic and restrictive trade practices
and matters connected therewith. But after the New economic reforms, liberalization, privatization, and globalization it was necessary that there must be competition in the market for the survival of the fittest. Therefore,
the MRTP Act 1969 was replaced by Competition Act in year 2002.
__________ of credit control affects indiscriminately all sectors of the economy.
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Qualitative Methods
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Quantitative Methods
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Both (a) and (b)
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Neither (a) nor (b)
Explanation
Quantitative methods of credit control affects indiscriminately all sectors of the economy.
Quantitative measures to control credit are also known as general measures. Quantitative instruments of control credit are those instruments which focus on overall supply of money in the economy. These measures are used in a manner such that overall supply of money in the economy is reduced during inflation and increased during deflation.
Which of the following is not an economic activity
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Land owner compensate the tiller of land in form of food grain
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Doctor consulting his own family
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Online teaching
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Consumption of food items
Explanation
Any action that involves producing , distribution or consuming products or services is an economic activity.
A.
In Option A,
there is a distribution of product. Thus, it is an economic activity.
B.
In Option B,
there is no production, distribution or consumption of services as doctor is consulting his own family. Thus, it is
not an economic activity
.
C.
In Option C,
there is a production of services (i.e., teaching). Thus, it is an economic activity.
D.
In Option D,
there is a consumption of products. Thus it is an economic activity.
Thus, B is correct option.
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