1) __________________ is know as the production side of a business a) Industry b) Commerce 2) Commerce is _______________________ part of a business a) Production side b) Distribution side c) None of the above 3) _____________ Industry is nature oriented industry with little human effort a) Primary b) Manufacturing c) Construction d) Genetic 4) Dairy farming is an example of which type of industry a) Primary b) Manufacturing c) Construction d) Genetic 5) Mining is an example of which type of industry a) Primary  b) Manufacturing c) Construction d) Extractive 6) Transform raw materials into finished products with manpower and machines a) Primary b) Manufacturing c) Construction d) Genetic 7) _______________Industrt builds roads, bridges and canals. (Erected at one place) a) Construction b) Primary c) Secondary d) Goods 8) Guess the Industry a) Service b) Primary 9) Guess the Industry a) Service b) Primary 10) Trade means ______________ a) only buying b) only selling c) Both A and B d) None of the above 11) A trader is a _____________ between the producer and consumer. a) Middleman b) Friend  c) Boss d) Fan 12) The two types of trade are __________________ and ______________ a) Wholesale trade b) Retail Trade c) Trade d) Both A and B 13) _____________ buys a LOT of goods from producers and sells in small quantities to retailer a) Wholesaler b) Retailer c) Customer d) All of the above 14) _______________ buy from wholesaler/ producer to sell it to the customers a) Wholesaler b) Retailer c) Customer d) Producer 15) If Ms.Shivani launches a new product (handbags) and wants people to know about it. Which aids to trade will support her business? a) Advertising b) Warehousing c) Transportation d) Banking 16) Which of these is NOT an aid to trade? a) Warehousing b) Insurance c) Banking d) Mall 17) _____________ means the buying and selling of goods and services on the Internet. a) E-business b) E-commerce 18) If a businessperspn wants to open more shops and needs money. Which aids to trade will support them? a) Insurance b) Banking c) Adveristement  d) All of the above 19) Growing vegetables in my home garden is a non economic activity. a) True b) False 20) ______________________is a part of e-businesses and even traditional businesses. a) E-business b) E-commerce 21) Which of these is not a characteristic of business? a) Dealing in goods and services b) Has risk c) Requires loans d) Has exchange of goods and services 22) Dmart is an example of a) E-business b) E-commerce 23) Their job is a...... a) Business b) Economic activity c) Occupation d) Profession 24) Which of these is not an objective of business? a) Making new customers b) Caring for one's family c) Making innovations to the product d) Earning profit 25) These people give us a) Goods b) Services

MS Prep BS- Ch 1 + Ch 2

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