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CBSE Questions for Class 9 Elements Of Business Fundamentals Of Business Activities Quiz 5 - MCQExams.com
CBSE
Class 9 Elements Of Business
Fundamentals Of Business Activities
Quiz 5
The trend component is easy to identify by using ___________.
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moving averages
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exponential smoothing
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regression analysis
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delphi approach
Explanation
A trend refers to a thing which persist for a long period of time. Moving averages is a tool of statistics. It helps to create a series of averages of different sub sets of the whole data. It is also an important tool to determine the trend component.
Sub rosa
means ____________.
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Done public ally
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Confidentially
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Done in secret
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(B) or (C)
Explanation
Sub rosa basically means something which is done in secret so both the options b and c are related to it .Therefore option D is the correct answer.
Characteristics of a business organization ________.
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lawful business
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dealing in goods and services
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risk involvement
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all of the above
Explanation
Level of the
organization
.
Great Teamwork.
High Employee Morale.
Offers Training Opportunities.
Strong Leadership.
Handles Poor Performance.
Understands Risks.
Adapts to Opportunities and Changes.
The decision to start an new business is taken when one perceives that forming a New business is:
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Possible
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Desirable
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Accurate
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Both a and b
Explanation
The decision to start an new business is taken when one perceives that forming a new business is possible and desirable . Possibility defines that a business is possible to function in the market and desirable means that the services or the goods desired by the customers or the market trends .
Most important factor in forming a new business is ___________.
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Finance
0%
Marketing
0%
Government support
0%
Family support
Explanation
Financial management is the most important responsibilities of owners and business management. They must consider the potential consequences of their management decisions on profits, cash flow and on the financial conditions of the company. The activities of every aspect of business have an impact on the company's financial performance and must be evaluated and controlled by the business owner.
The organized efforts of an enterprise to supply consumers with goods and services for a profit is known as _______.
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service
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business
0%
production
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market trend
Explanation
A
business
is an organization where people work together. In a
business
, people work to make and sell products or services. Other people buy the products and services.
A
business
can earn a profit for the products and services it offers. The word
business
comes from the word busy, and means doing things.
Every
business
requires some form of investment and enough customers to whom its output can be sold on a consistent basis in order to make a profit.
An
example
of a corporate
business
is Pepsi Co, while a mom-and-pop catering
business
is a private enterprise.
Invariably to have good human relations a manager should _______________.
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Promote & do self appraisal
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Direct change and control
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Understand the psychology of individual
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All of the above
First mover advantage refer ___________________.
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Early identification of business opportunities
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Early identification of uncertainty
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Early identification of business rivals
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Early identification of uncertainty in business.
Explanation
First mover advantage refers to the early identification of business opportunities.
A
first mover
is a service or product that gains a competitive
advantage
by being the
first
to market. Because of first-mover advantage a
company is able to establish strong brand recognition and customer loyalty before competitors.
Thus, the correct answer is A.
Find the odd statement out.
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Normative economics is concerned with welfare propositions.
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Normative economics is prescriptive in nature.
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Normative economics is regulatory in nature
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Economic laws are hypothetical.
Explanation
Economic laws are not hypothetical in nature, while many microeconomic models may involve many assumptions and tend to over simplify situations, the broad theories are still valid in the real world, it has been proven time and again with empirical data.
Normative economics deals with subjective economics, and are grounded in personal opinions rather than empirical facts. They tend to be prescriptive and regulatory in nature (ie, they contain advice on what should be done to solve a particular problem).
Economic choice and competitive behaviour are the result of ____________.
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basic human need
0%
poverty
0%
private ownership of resources
0%
scarcity
Explanation
The problem of scarcity, stems from the basic idea that human wants and needs are unlimited, however the earth only contains a finite amount of resources that can be used to produces goods and services that will fulfill the unlimited wants and needs.
Since resources are scarce, the people are forced to make choices about what to produce, how to produce and for whom to produce. Thus there are alternative uses for economic resources and this fuels competition.
The skill that is required by all level of managers _____________.
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Conceptual skill
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Technical skill
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Human relation skill
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None of the above
Income of a businessman is called ________.
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wage
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salary
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fee
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profit
Explanation
A business is an activity of making money by producing and buying and selling products. It is an entity which is established for earning profit which is the basic motive. Thus the income of the businessman is called profit.
Which of the following occupations involve maximum risk?
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Employment
0%
Business
0%
Profession
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Teaching
Explanation
Business involves maximum risk as it has some external and internal environment factors which are not in the control of business and creates various types of business risks. Employment, profession and teaching does not not involves as they get fixed remuneration.
Which of the following statements best describe economic activities?
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These activities are undertaken to earn money
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These activities provide pleasure
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These activities involve no risk
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These activities involve working outside the house
Explanation
Economic activities are those activities which are undertaken to earn money and done to earn a living. For example a person selling vegetables in your locality is a type of an economic activity as he earn money by this activity.
The income of a profession is called ________.
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wage
0%
salary
0%
fee
0%
profit
Explanation
Fee-
a payment made to a professional person or to a professional or public body in exchange for advice or services
As per Maslow's Hierarchy of needs theory, the need for fulfilment, for realizing one's own potential, and for fully one's talents capabilities are examples of ____________ needs.
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Self-actualization
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Psychological
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Social
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Environmental
Explanation
Self-actualization needs are realized after satisfying all the other needs if we go in an hierarchical way. These needs make you realize your true potential and how you can develop yourself by actualizing the situation all round you through your potential.
Which of the following occupations or services of specialized nature are provided with a fee?
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Employment
0%
Business
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Profession
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Farming
Explanation
Profession is a paid occupation, especially the one that involves prolonged training and a formal qualification. Professionals charge fees for their services for example, as doctor, as lawyer, etc.
All professions are based on ____________.
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knowledge
0%
creativity
0%
practice
0%
all of the above
Which of the following is not a business activity?
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A housewife selling old newspapers
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A person selling vegetables in your locality
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A teacher teaching his daughter at home
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A painter painting houses of others
Explanation
An activity which is done to earn profit in long run is called business activity. The activities which are listed above
includes both business and non business activity :
A housewife selling old newspapers is not a business activity as the newspapers are sold to earn extra money
A person selling vegetables in our locality is a business activity as it is done to earn money and is a source of income .
A teacher teaching his daughter at home is not a business activity as he is not charging tuition fees.
A painter painting houses of others is a business activity as it is a source of income for him .
Scholars belonging to _____ feel that study of management should be based on interpersonal relations.
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Empirical Approach
0%
Group Behaviour Approach
0%
Interpersonal Behaviour Approach
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Decision Theory Approach
Explanation
Scholars belonging to Interpersonal Behaviour Approach feel that the study of management should be based on interpersonal relations. It is also known as the Behavioral science approach. It focuses on human relations and employees well being.
Hence, C is the correct option.
The purposes of business that goes beyond earning profits _____.
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Offering better quality of life
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Contributing to the economic growth of the country
0%
Creating job opportunities
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All of above
Explanation
Profit-earning is the primary purpose of a business for its owners and stakeholders. However, it is not the sole objective of business. The purposes of business that goes beyond earning profits include offering better quality of life, contributing to the economic growth of the country, creating job opportunities, etc.
Thus, the correct answer is
D.
SBU stands for ___________.
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Social Business Unit
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Strategic Business Unit
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Social Bold Unit
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Strategic Bold Unit
Explanation
In business, a strategic business unit is a profit center which focuses on product offering and market segment. SBUs typically have a discrete marketing plan, analysis of competition, and marketing campaign, even though they may be part of a larger business entity.
___________ is the principle of non-intervention
of the Government in economic affairs of the country.
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Liberalisation
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Laissez-faire
0%
Giffins Caveat
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None of the above.
Explanation
Laissez is an economic system in which transactions between private parties are free from government interventions.
This doctrine was popularised by classical economists who gave the view that government should interfere as little as possible in the economic activities of the individuals.
Hence b is the correct answer.
Scale of business determines the___________.
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Size of the business
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Production of such business
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Capital involved in business
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All of above
Explanation
Scale of business means the level of operation that will take place - like small scale, large scale etc. The determination of the scale of operations depends upon the size of business, production of business, capital involved in business. For example, it the size of business is big, the scale of production is large and the capital that is invested in the business is also big then the scale of such business will be large scale.
Every business enterprise must undertake such business which is ________.
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Unlawful
0%
Lawful
0%
Illegal
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All of above
Explanation
Business conducted illegally or unlawfully is not considered to be business.Business should be according to law formulated by the government. Therefore option B is the correct answer..
Management qualifies all tests of a profession exxept __________________.
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Dominance of service motive
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Restricted entry
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Systematic body of knowledge
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Use of know how and skills
Explanation
Management qualifies all tests of a profession except use of know how and skills.
Management is not considered as a full-fledged profession like medical and legal profession because:
1. Restrict entry: Management has restricted entry through an examination or degree as in profession.
2. Presence of professional associations: All profession has some associations affiliated to it and even management has association affiliated to it.
3. Existing of ethical code: For every profession there are some set of ethical codes fixed by the profession association. Management also has some ethical codes fixed by the concerned professional association.
Statement I:
A true manager can continue to manage the same way as he has been doing it in the past.
Statement II:
Considerations of efficiency and survival require that a manager should be constantly engaged in the task of innovation.
Select the correct answer from the options given below -
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Statement I and Statement II both are true
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Statement II is true but Statement I is false
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Statement I and Statement II both are false
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Statement I is true but Statement II is false
Explanation
Statement I:
A true manager can continue to manage the same way as he has been doing it in the past- this is true.
Statement II:
Considerations of efficiency and survival require that a manager should be constantly engaged in the task of innovation- this is false.
BPO stands for____
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Business patent offer
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Business process outstanding
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Business process outsourcing
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Business public organization
Explanation
Full form of BPO is Business Process Outsourcing .
Outsourcing
is an agreement in which one company hires another company to be responsible for a planned or existing activity that is or could be done internally,
]
and sometimes involves transferring employees and assets from one
firm
to another.
Interpersonal Behaviour Approach also known as.
(I) Behavioural science Approach
(II) Leadership Approach
(III) Human Relations Approach
Select correct answer from the options given below :-
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(I)
0%
(II)
0%
(III)
0%
All of the above
Explanation
Interpersonal Behaviour Approach also known as :-
(I) Behavioural science Approach
(II) Leadership Approach
(III) Human Relations Approach
It focuses on human relations and well-being of the employees.
The subject matter of personnel management is?
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Profit
0%
Capital investment
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Human being
0%
Wages and incentives
Explanation
The subject matter of personnel management is human being. Personnel management can be also defined as a phase of management which deals with the effective control and use of manpower or human resources.
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