Class 11 BSt Chap1

### Chapter 1: Business, Trade and Commerce

1. **Which of the following best defines business?**

   - A) Employment generation

   - B) Trade in goods and services

   - C) Activities performed for social welfare

   - D) All of the above

2. **Which characteristic is not associated with business activities?**

   - A) Sale or exchange of goods and services

   - B) Regular dealings

   - C) Profit motive

   - D) Non-economic activities

3. **What type of activity is commerce primarily concerned with?**

   - A) Providing services

   - B) Buying and selling goods

   - C) Production of goods

   - D) Charitable activities

4. **Trade is divided into which two broad types?**

   - A) Home trade and foreign trade

   - B) Barter trade and currency trade

   - C) E-commerce and physical commerce

   - D) None of the above

5. **Which of the following is an example of an auxiliary to trade?**

   - A) Manufacturing

   - B) Advertising

   - C) Production

   - D) Agriculture

6. **Home trade is also known as:**

   - A) International trade

   - B) Domestic trade

   - C) Local trade

   - D) Indigenous trade

7. **Which is not a function of commerce?**

   - A) Removing budget constraints

   - B) Removing time barriers

   - C) Removing place barriers

   - D) Facilitating exchange

8. **What is the main objective of industrial activity?**

   - A) Production of goods

   - B) Purchase of goods

   - C) Sale of services

   - D) Profit from investment

9. **Outsourcing is an example of:**

   - A) Human resource activity

   - B) Trade barrier

   - C) Aids to trade

   - D) Non-economic activity

10. **What is internal trade?**

    - A) Trading across international borders

    - B) Trading within the same locality

    - C) Trading within a country's boundaries

    - D) None of the above