Structure & Process of Business
(SPB)
MCQs
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1. We need a scientific or systematic _______ system to sell our goods at a profit in mass markets.
[A] Distribution
[B] Publicity
[C] Marketing
[D] Research
2. Professionals enrage _________ for their expert services.
[A] Wages
[B] Professional tax
[C] Fees
[D] None of the above
3. Special attention paid to weaker and neglected section of the society is ______.
[A] Ensuring social justice
[B] Societal norms
[C] Rules stated by the government
[DI None of these
4. Industrial revolution comprised of six great changes. This was written by whom?
[A] Maslow
[B] Henry fayol
[C] Henry ford
[D] Knowles
5. A ________ is expected to meet threats & uncertainties, exploit given opportunity
under ever changing & unpredictable Forces.
[A] Business Adventure
[B] Risk
[C] Adventure
[D] None of these
6. Business always involves _______.
[A] Satisfaction
[B] Risk & Uncertainty
[C] Salary
[DI Social Activity
7. In _______ industries natural resources are mined out from beneath the surface of the earth.
[A] Genetic
[B] Synthetic
[C] Extractive
[D] Analytical
8. According to _______ "mere money chasing is not a business."
[A] Henry Fayol
[B] Abraham Maslow
[C] F.W. Taylor
[D] Henry Ford
9. _________ may be defined as an occupation which involves rendering of personal services of a special and expert nature.
[A] Employment
[B] Profession
[C] Job
[D] Business
10. The main three elements of Economic objectives are: Profit, Creation of customers and _______.
[A] Risk
[B] Innovation
[C] Supply
[D] Demand
11. Horizontal combination is also called as ______.
[A] Sequence combination
[B] Parallel combination
[C] Process combination
[D] Allied combination
12. ______ Is combination of organization which remains separate and retains considerable autonomy.
[A] An association
[B] A federation
[C] A consolidation
[D] A trade union
13. ______ consider as an unhealthy business practice.
[A] Cartel
[B] Corners & rings
[C] Pools
[D] Consolidation
14. When various departments in large industrial units combine together under single management is called ______ combination.
[A] Vertical
[B] Horizontal
[C] Lateral
[D] Circular
15. _______ leads to the control of market and generally means large profits for business concerns.
[A] Oligopoly
[B] Duopoly
[C] Monopoly
[D] Capitalism
16. A person who has to work under an agreement or rules of service and perform such work assigned by the employer can be considered under which class of occupation?
[A] Profession
[B] Business
[C] Non-government organization (NGO)
[D] Employment
17. "In today's world it can be observed that many companies are offering variety of mobile phones in the market". Which of the following option represent the risk in this mobile business?
[A] Wrong management decision
[B] Shortage of raw material
[C] Increase competition in the market
[D] Changes in technology
18. What is market?
[A] Buying and selling
[B] Collection of customers
[C] Business activity
[D] Place where buyers and sellers meet
19. Which of the following shows the outcome consumer frustration and dissatisfaction?
[A] Failure of marketing system
[B] Success of marketing system
[C] Competent management
[D] Loyalty of customer
20. Providing employment is the ______ objective of business.
[A] Human
[B] Economic
[C] National
[D] Social
21. ________ is merely a union of persons, to make a whole or one of the parts of a whole or group for the prosecution of some common purposes.
[A] Industrial Revolution
[B] Business Combination
[C] Joint stock Company
[D] Trade Union
22. The Indian Jute Mills Association is an example of ________ of employers.
[A] Combination
[B] Trade union
[C] Consolidation
[D] Federation
23. Which one option of the following can be called as form of combination which is formed to have a control over price?
[A] Trade union
[B] Association
[C] Consolidation
[D] Pool
24. ______ is a form of business combination, in which, without any formal central administration, the business policy of several companies is controlled by a group of common stockholders.
[A] Cartel
[B] Pool
[C] Combination Trust
[D] Community of Interest
25. A trade union is an association of _______ formed for protecting their interests in industry.
[A] Workers
[B] Business units
[C] Brokers
[D] Government
26. Informal Agreements are also known as _______.
[A] Trade Unions
[B] Gentleman's Agreements
[C] Federations
[D] Chambers of Commerce
27. Market pools seek to control price through pooling of _____ and its allocation among members.
[A] Supply
[B] Patents
[C] Demand
[D] Traffic
28. Monopoly leads to _____
[A] Depressions
[B] Booms
[C] Business transactions
[D] Control in the market
29. Super cartels are also known as ______.
[A] Generally Kartell
[B] Quota fixing cartels
[C] Cartels proper
[D] Syndicate cartel
30. Compound combinations are _____.
[A] Amalgamations
[B] Partnership of 3 partners
[C] Mergers
[D] Association of natural persons
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