Question

I)
Choose the correct one.
1) Most wide scope in the following is of -
a) Trade b) Commerce c) Industry d) Business
2) Main objective of Business is :-
a) Earning Profit
b) Providing Service
c) Profit and service both
d) None of Thes
3) Cause of create Business Risk:-
a) Unceertanity
b) Lake of Capital
c) Reduce in price
d) Lake of Employees
4) Which of the following cannot be classified to Trade:-
a) Mining b) Insurance c) Bank
d) Transport
5) Tertiary Industry or Services are:-
a) Transportation
b) Communication
c) Banking
d) All of above
6) Types of Foreign Trade are:-
a) Three b) Two
c) One
d) Four​

Answer 1

Answer:

1. (b) commerce

2.(c) profit and service both

3.(d) lake of employees

4.(b) insurance

5.(d) all of above

6.(b) two

Answer 2

Answer:

1) b) Commerce

2) c) profit and service both

3) a) uncertainty

4) d) transport

5) d) all of above

6) a) three

Explanation:

1. commerce has the widest scope because there are so many fields in which we can earn or make use of our talents.
2. the main objective of business is profit and service both because business is run to make a profit out of the activity and also to provide services.
3. cause of business risk is uncertainty as we can never predict what will happen next and it can create risk for the business.
4. transport cannot be classified as trade because it doesn't create any goods.
5. transportation, communication, and banking, all are tertiary industries or services because they provide services to the customers.
6. Types of foreign trades are three which are import, export and entry port.