Tag: components of business studies

Questions Related to components of business studies

Administrative competition includes "gifts" to the ___________.

business organisation and correspondence components of business studies factors affecting business interrelationship between industry, commerce and trade other aspects of a business

  1. Factory inspector

  2. Boiler inspector

  3. Pollution control board inspectors

  4. All of the above

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Correct Option: A
Explanation:
An inspector is a person, usually employed by a government agency, whose job is to find out whether people are obeying official regulations. The mill was finally shut down by state safety inspectors. 
Factory inspectiors
 are conducted to ascertain whether certified products produced in the facility are identical, within accepted manufacturing tolerances, to the sample against which the product certification was granted.

Singapore and Middle East countries are the best examples for entrepot trade.

business organisation and correspondence components of business studies factors affecting business interrelationship between industry, commerce and trade other aspects of a business

  1. True

  2. False

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Correct Option: A
Explanation:

Singapore and Middle East countries are the best examples for entrepot trade- this is a true statement. Entrepot is mainly used to refer to duty-free ports with the high volume or re-export. At entrepot, goods do not face any import or export duties upon shipment from the port.

The word company is derived from word.

business organisation and correspondence components of business studies factors affecting business interrelationship between industry, commerce and trade other aspects of a business

  1. French

  2. Latin

  3. German

  4. Indian

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Correct Option: B

Which of the following cannot be a social objective of the business?

business organisation and correspondence components of business studies factors affecting business interrelationship between industry, commerce and trade other aspects of a business

  1. Production and Supply of Quality Goods and Services

  2. Contribution to the General Welfare of the Society

  3. Adoption of UnFair Trade Practices

  4. None of the above

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Correct Option: C
Explanation:

Social objective are those objectives of business, which are desired to be achieved for the benefit of the society. Since business operates in a society by utilizing its scarce resources, the society expects something in return for its welfare.

Management is responsible for setting and achieving objectives for the organisation. The main objective of any organization should be to utilise human and material resources to the maximum possible advantage, to fulfill the economic objectives of a business.

Business produces goods and supplies the goods that are required for the development of a nation. This forms a part of ______ objective of the business.

business organisation and correspondence components of business studies factors affecting business interrelationship between industry, commerce and trade other aspects of a business

  1. Economic

  2. Environmental

  3. Technological

  4. Social

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Correct Option: D
Explanation:

Social objective are those objectives of business, which are desired to be achieved for the benefit of the society. Since business operates in a society by utilizing its scarce resources, the society expects something in return for its welfare.

Management is responsible for setting and achieving objectives for the organisation. The main objective of any organization should be to utilise human and material resources to the maximum possible advantage, i.e., to fulfill the economic objectives of a business.