Nature and Scope of Business — Practice Quiz
Telangana Open School (TOSS) · Class 12 · Business Studies
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Quick Quiz: Nature and Scope of Business
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Which of the following is an example of an economic activity?
What is the main objective of a profession?
Which of the following is a non-economic activity?
Which occupation involves working under a contract of service?
Sample Questions
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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