Nature and Scope of Business — Important Questions
Telangana Open School (TOSS) · Class 12 · Business Studies
44 important questions from Nature and Scope of Business for Telangana Open School (TOSS) Class 12 Business Studies, with answers.
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Important Questions from Nature and Scope of Business
What is the reward in business?
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Profit
The main objective of business is to earn profit, which is the financial gain after deducting expenses from revenue.
Which of the following is NOT a feature of business?
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No risk involved
Every business involves risk due to uncertainties like market changes, natural disasters, etc. Risk is an essential element of business.
Which of the following is a primary industry?
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Agriculture
Primary industries involve extraction or production of raw materials like agriculture, mining, fishing, etc.
What is the main purpose of employment?
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To earn a livelihood through salary
The main motive behind employment is to secure assured income through wages or salaries.
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