Question

D) State True or False.
1) Business is an economic activity.
2) Every profession is practicedy for earning money.
3) Primary industries are concerned with nature.
4) Trade includes commerce.
5) Warehousing removes difficulty of time.
6) Trade includes buying and selling of goods and services.

Answer 1

1- True

2- False

3- True

4- True

5- True

6- True

Answer 2

i. True- All activities related to business is economic and it is used for making money. This activities involves goods production and selling of products to make money.

ii. False- There are some profession which people chose for the benefit of people but not for money.

iii. True- In primary industry natural resources are used therefore it is related to nature. It gives a raw material to various industries.

iv. True- Commerce means delivering of products from producer to consumers and it includes trade to buy and sell products.

v. True- It takes a time for producing and consuming any products. To protect such goods we can keep it in a warehouse.  

vi. True- It is related to commerce