Question Bank on chapter 1 Overview of Business

Overview of Business

[Answers are highlighted]

1) Which of the following are types of business?

a. Service, Manufacturing and Trade                      b. Sales, Manufacturing and Trade

c. Service, Manufacturing and Sales                         d. Service, marketing and Trade

2) GDP stands for

a. Gross Development Product                                  b. Gross Domestic Product

c. General Development Percentage                      d. Global Direct Product

3) Service industry forms __ percentage of Indian economy

a. 20%                   b. 40%

c.60%                    d. 50%

4) Manufacturing industry forms __ percentage of Indian economy

a. 20%                   b. 40%

c.15%                    d. 50%

5) Business is the process of providing platform to the people to exhibit their ____ & ____ abilities.

a. technical and economical

b. thinking and mental

c. technical and managerial

d. leadership and vocal

6) What does a business provide to the customers in exchange of their money?

a. goods and services

b. profit and services

c. satisfaction and reliability

d. knowledge and happiness

7) According to Drucker, the purpose of business:

a. to get money

b. to acquire success in market

c. to satisfy customers

d. to create and keep customers

8) Which one of the following is not a type of business?

a. service

b. manufacturing

c. machining

d. trade

9. Service sector is also known as

a. primary sector

b. secondary sector

c. quarterly sector

d. tertiary sector

9. Agriculture industry is also known as

a. primary sector

b. secondary sector

c. quarterly sector

d. tertiary sector

10.  Manufacturing industry is also known as

a. primary sector

b. secondary sector

c. quarterly sector

d. tertiary sector

11) What is manufacturing?

A.acquiring customers

b. production of merchandise

c. gaining profit

d. completing demand

12) How do traders make profit?

a. in the form of commision

b. in the form of loans

c. in the form of shares

d. in the form of debentures

13) What are the types of trade?

a. profitable and loss

b. singular and plural

c. bilateral and multilateral

d. direct and indirect

14)What plays an important role in Indian textile industry

a. cotton

b. blended fabrics

c. synthetic cloth

d. silk

15) The year 1991 is famous for

a. New Fiscal deficit policy

b. IT parks initiated in Bangalore

c. Globalization policy, liberalization were accepted by India

d. Policy of cooperative societies changed

16. Following business pattern is not coming under service industry

a. ITes

b. banking

c. Real estate

d. textile mill

17. Annual growth of approximate ___% is recorded in last five years by service industry

a. 10%

b. 30%

c. 20%

d. 5%

18. Following is the fastest growing sector in India now-a-days

a. agriculture

b. Fishing

c. Service

d. Manufacturing

19. License permit raj in India was in this period

a. 1965-1990

b. 1990-2002

c. 1965-1970

d. 1955-1965

20. Manufacturing sector contributes __% of India’s GDP

a. 5%

b. 30%

c. 15%

d.25%

21. ___% of workforce in India is working in manufacturing sector

a. 0.5%

b. 1%

c. 30%

d.12%

22. ___ is willing exchange of goods

a. service

b. trade

c.manufacturing

d. both (a) and (b)

23. ___ is also called as commerce

a. Trade

b. Service

c. Manufacturing

d. Economics

24. Mechanism that allows trade is called as

a. Government

b. Finance department

c. Industry

d. Market

25. Domestic trade is also called as

a. Global trade

b. Foreign trade

c. International trade

d. internal trade

26. Following is the main destination for capital inflows

a. India

b. USA

c. Pakistan

d. Australia

27. Following is not among the top 5 countries in the list of our importers

a. China

b. USA

c. Saudi Arabia

d. UK

28. All exports and imports activities are governed by

a. Foreign Trade Policy

b. Fiscal policy

c. Global policy

d. Trade and Business policy

29. SEZ means

a. Special Export Zones

b. Special Economic Zones

c. State Economic Zones

d. Special Engineering Zones

30. Which is the pioneering company with respect to iron and steel field in India?

a. TISCO

b. BOSCH

c. Rajuri Steels

d. Jindal Steels

31. ___ is the apex authority of Government of India.

a. TISCO

b. Heavy industries ministry

c. SAIL

d. ISA

32. In ____ first car was driven on the roads of India

a. 1970

b. 1857

c. 1898

d. 1909

33. India is the largest market in the world for

a. cars

b. Three Wheelers

c. Heavy Vehicles

d. Public travels

34. Following is not the challenge in front of Automobile industry

a. fuel shortage

b. pollution

c. conditions of road

d. Investment

35. Per capita consumption of paper in India is

a. 1kg

b. 10 kg

c. 4 kg

d. 20 kg

36. Per capita consumption of cement in Japan is 700 kg. In India it is

a. 500 kg

b. 400 kg

c. 1000 kg

d. 70 kg

37. Which is not the challenge in front of cement industry?

a. Power cuts

b. Less market size

c. Tight policies of government

d. shortage of coal

38. Old Indian textile industry was predominantly ___ based

a. Cotton

b. Polysters

c. Synthetic textiles

d. Blended fabrics

39. Following is not the strength of textile industry

a. cheap workforce

b. demand is continuous

c. Import of raw material

b. huge capacity of production

40. Following is not the textile industry

a. Arvind

b. Welspun

c. IBP

d. Century

41.Following is not the chemical industry

a. Polymer

b. Petrochemical

c. Paints

d. Sugar

42. Following is not the agro industry

a. Jute

b. Sugar

c. Poultry

d. Paper

43. First nationalization of 14 banks happened in

a. 1969

b. 1976

c. 1950

d.1991

44. Following bank is working for agriculture field

a. ICICI

b. Allahabad

c. NABARD

d. Agro

45. Following is not associated with insurance

a. Bajaj Allianz

b. Max Life

c. LIC

d. ICC

46. Which organization is at a number one positioning in India in insurance?

a. Max Life

b. Birla Sunlife

c. LIC

d. ICICI Prulife

47.TATA Motors Ltd. is example of following kind of business.

TRADE / MANUFACTURING / SERVICE / IMPORT – EXPORT