Business: Objective Questions and Answer


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1. Which of the following is not a characteristic of business?

a) Risk

b) Profit motive

c) Economic activity

d) Government interference

Answer: d) Government  interference


2. What is the main objective of a business?

a) To create employment

b) To maximize profits

c) To provide charity

d) To enhance government revenue

Answer: b) To maximize profits

3. What is the primary objective of any business?
a) Generating employment
b) Providing goods and services
c) Earning profits
d) Social welfare
Answer: c) Earning profits


4. Which of the following is a feature of business?
a) Profit uncertainty
b) Government ownership only
c) Lack of competition
d) Risk-free operations
Answer: a) Profit uncertainty


5. Which type of business activity involves the production of goods?
a) Commercial
b) Industrial
c) Agricultural
d) Service
Answer: b) Industrial


6. Which form of business organization is owned by shareholders?
a) Sole proprietorship
b) Partnership
c) Joint-stock company
d) Cooperative society
Answer: c) Joint-stock company


7. Which of the following is an example of a secondary sector activity?
a) Farming
b) Manufacturing
c) Teaching
d) Transportation
Answer: b) Manufacturing

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