InterviewSolution
Saved Bookmarks
InterviewSolution
This section includes InterviewSolutions, each offering curated multiple-choice questions to sharpen your Class 11 knowledge and support exam preparation. Choose a topic below to get started.
| 51. |
What is meant to by a business firm |
| Answer» Business is defind as economic activities which involves the production and sales of goods and services undertaken in motive of earning profit for the human needs for their society | |
| 52. |
What is mean by firm or business firm ? |
| Answer» A firm is a organisation or company.<br>Explain | |
| 53. |
Difference between economics and non-economics |
| Answer» Economic activities are those activities which are undertaken inorder to earn thier livlihood etc for e.g manager in firm, worker in factory etc.Non economic activities are those activities which are performed out of love, sympathy, sentiments, patriotism etc for e.g mother cooking food for family, boys helping blind man to cross the road etc. | |
| 54. |
What do you know about the history of Commerce in India? |
| Answer» | |
| 55. |
Different types of economic activities |
| Answer» Economic activities are broadly grouped as Primary activities, Secondary activities, Tertiary activities and Quaternary activities.\tPrimary Activities: It refers to extraction/utilisation of raw materials from the earth\'s surface. These include hunting, gathering, pastoralism, fishing, forestry, mining and agriculture.\tSecondary Activities: It includes industries that transform raw materials into finished foods having higher value. For example, manufacturing cotton textiles from raw cotton, and iron and steel from iron ore.\tTertiary Activities: It includes all kinds of services provided for the people such as education, health, trade and transport.\tQuaternary Activities: It represents special kind of services, which is related to highly intellectual activities. For example, research and development service, information generation, information processing and transmission. | |
| 56. |
Why business is called an integral part of society ? |
| Answer» | |
| 57. |
Three major import and export in ancient india? |
| Answer» | |
| 58. |
Format of loco invoice |
| Answer» | |
| 59. |
Name the component of tertiary industry |
| Answer» | |
| 60. |
Define management |
| Answer» | |
| 61. |
Compare the status of a minor in a joint hindu family business with that in a partnership firm |
| Answer» | |
| 62. |
Is a sole proprietor bound to publish his/her business accounts |
| Answer» No | |
| 63. |
Explain any four function of HUF |
| Answer» | |
| 64. |
Explain silkroutes and its importance in ancient business |
| Answer» | |
| 65. |
Possible employment |
| Answer» | |
| 66. |
chart on types of industries............... |
| Answer» There are three types of industry primary ( extractive and genetic) secondry( manufacturing and construction) territary industries | |
| 67. |
What are the elements of economic activity |
| Answer» Business, profession, employment | |
| 68. |
What is meant by minimum subscription. |
| Answer» Minimum subscription refers to the minimum amount required by the company for its preliminary functions. It has been provided by the Companies Act, that the company must receive applications for a certain minimum number of shares before going ahead with the allotment of shares in order to prevent companies from commencing business with inadequate resources. This is called the ‘minimum subscription’. The limit of minimum subscription is 90% of the size of the issue. | |
| 69. |
Explain the characteristics of profession. Long answer type question. Please help me solve it. |
| Answer» I want it in elaborated form. Long answer please...<br>1) Profession refers to an occupation which is concerned with rendering service.2) It requires specialized knowledge. It requires long and intensive academic, preparation and training.\xa03) Profession is regulated by laws. | |
| 70. |
Why is business considered an economic activity |
| Answer» Business is considered as an economic activity beacause it involves production and purchase of sale of goods and services with the main objective of earning money for livelihood. | |
| 71. |
Two advantages enjoyed by co parceners in huf |
| Answer» 1.They are ruled by karta that doesn\'t leads to conflicts within the business.2.They have equal division of the ancestral property. | |
| 72. |
What is an economic activity |
| Answer» Activities that are performed for the purpose of earning money are called as economic activity | |
| 73. |
A farmer is : employee, profession , business |
| Answer» Economic activities are the activites which have only one main motive ie to earn money and recieve profit | |
| 74. |
Types of partnership |
| Answer» types of partnership are:-1. general or active partner2. sleeping or dormant 3. secret partner4. nominal partner5. partner by estopple6. limited partner7. minor partner8. partner by holding out 9. incoming partner10. outgoing partner | |
| 75. |
Case study of tata conpanu |
| Answer» | |
| 76. |
What is business...? |
| Answer» The definition of business is an occupation or trade and the purchase and sale of products or services to make a profit. | |
| 77. |
List two example of human causes of loss in business |
| Answer» | |
| 78. |
Distinguish between consumer goods and capital goods |
| Answer» Thanks<br>Goods which are consumed by ultimate consumers are called consumer (consumption) goods whereas goods which are bought not for meeting immediate needs of consumers but for producing other goods are called capital goods. | |
| 79. |
How does commerce remove the hindrances of exchange, time and place? |
| Answer» | |
| 80. |
Describe the activities relating to commerce. |
| Answer» | |
| 81. |
"Profit can no more be the objective of business than eating is the objective of living." Explain. |
| Answer» | |
| 82. |
Kind of risks in locally operated trading or business unit and way to deal with them |
| Answer» Locally operated businesses undergo the following risksPersonal liabilityMost of them are not recognize as a separate legal entity, meaning owner bears all the obligations and debts.If the business fails to pay debts, the owner will lose the income but must pay the money owed using business assets.Perceived Lack of prestigeLocally operated business lacks the prestige of the limited company. Public perception is often smaller, less long standing. Professional credibility hinders individual from performing sole trading.Negative view of customersMany clients prefer dealing with a limited company, often seen sole traders as a high risk.These locally operated business unit encounter risk through the following,⇒Ensure the business is fully insured against any loss⇒Partner with other traders so that losses are shared equally⇒Formation of a limited liability company to ensure larger capital are raised, hence business become legal separate entity from the owners. | |
| 83. |
Difference between hoarding and blackmarketing |
| Answer» Black marketing is the marketing of the things in a market in illegal means,the transactions done are in itself illegal.Hoarding is holding resources in larger quantities that exceeds one\'s use .The main motive behind holding scarce resources, is to sell to customers on a high profit in times of natural disasters etc | |
| 84. |
Define merits |
| Answer» Merit is\xa0the quality of being particularly good or worthy, especially so as to deserve praise or reward. | |
| 85. |
Describe 5 types of life insurance policy |
| Answer» 1. Endowment policy,\xa02.\xa0Whole life policy,3.\xa0With profit policy,4.\xa0Joint life policy,5.\xa0Without profit policy,6.\xa0Double Accident policy,7.\xa0Convertible policy and .8.\xa0Group Insurance policy. | |
| 86. |
Full form of wto |
| Answer» World Trade organisation<br>world trade organisation<br>World Trade Organization | |
| 87. |
State economic objectives of business |
| Answer» 1.Profit making2.Raising funds3.Increasing production level4.Longer survival in the market<br>Economic objectives of business refer to the objective of earning profit and also other objectives that are necessary to be pursued to achieve the profit objective, which include, creation of customers, regular innovations and best possible use of available resources. | |
| 88. |
Why should a business pursue social objectives |
| Answer» | |
| 89. |
Why should a business pursue social objectives? |
| Answer» Every Business Wants to Survive for a Longer Period. Without providing Social Objectives Business Can not Survive for loner Period.Now , Our Industry Also Wants Social responsibility. That\'s Why Companies Act,2013 Introduce the Concept Corporate Social responsibility Concept. Company also Uses Environment resources and business should Pay for that, But due to non - Payment , Business Should pursue Social OBjectives. Such as High Quality of Goods at fair prices , Providing Employment , Contribution to Social development etc. | |
| 90. |
What is the role of entrepreneur in business? |
| Answer» The management functions performed by entrepreneur are classified into the following five types:1. Planning2. Organizing3. Staffing4. Directing5. Controlling | |
| 91. |
What are the projects topic in bussiness studies |
| Answer» | |
| 92. |
Case study of all chapters |
| Answer» | |
| 93. |
Sole proprietorship features and merits demerits |
| Answer» Features 1.No separate legal entity 2.unlimited liability 3. Lack of continuity4. Independency decision 5.managed individual 6.risk bearing 7.No share profit and loss<br>Merits 1.maintaining secerts 2. Independency decision 3.done by single person 4.management individual<br>Sole properitorship- it is owned and managed by single individual and the no share profit and loss | |
| 94. |
Ten services name and ten business name. |
| Answer» | |
| 95. |
Aayushi running a bakery and Manjusha cooking food at home differentiate between them |
| Answer» | |
| 96. |
Earthquake comes under which type of risk |
| Answer» Seismic risk | |
| 97. |
Any sample paper of 50 marks test |
| Answer» | |
| 98. |
What are the risks in business? |
| Answer» Risk in business are :1. Risk arrises due to uncertainity or uncertain events.2. Risk is an essential element of every business.3. The degree of risks depends upon nature and size of every business.4. Profits is the reward of every business.5. The degree of risk varies with time.<br>Risks in business are as follows..1.fall in price. 2.reduction of the demands. 3.risks are also by natural calamities etc.4.there is more rish in new business | |
| 99. |
Risk is an inherent part of business do you agree?? |
| Answer» Risk is not an inheritent part of business but risk bearing is an essential and acquired part of any business. | |
| 100. |
Name the economic activity in which transfer of interest is possible |
| Answer» Business | |