Tarang was a leading manufacturer of basic keypad mobiles. However, demand for such mobiles drastically decreased with the origin of smart phones. Identify the main cause of business loss.
Natural Cause
Human Cause
Economic Cause
Other Cause
Q.4.
It refers to a body with power to make and enforce laws within a state or over certain groups of people.
Business
Government
Shareholders
Stockholders
Q.5.
Power Ltd. decided to open a factory in the remote area of Bihar. Company's aim is to raise the standard of living of people in the rural areas. Identify the objective of business which is followed by the company.
Economic Obective
Individual Objective
Social Objective
Other Objective
Q.6.
Define Socio- economic Issues (UND)
All issues affecting the economy
refers to the issues that the country is facing
Issue that the people are facing and has affect to the economy
issues are concerns regarding the factors that can impact an individual or family’s social standing and economic status
Q.7.
A business plan
is useful once your business is operational but not much help during the startup phase
is not usually needed to secure financing in your business
can serve as a tool for managing your business once it is up and running
All of the above
Q.8.
What is the definition of a fixed cost?
A cost that varies with output
A cost that does not vary with output
Costs that do not change
Costs that change only when agreed
Q.9.
What is the formula for Profit?
Revenue - Sales
Revenue - Costs
Revenue - Fixed Costs
Revenue - Gross Profit
Q.10.
What is the formula for Revenue?
Output x Selling Price
Output x Cost
Selling Price x Costs
Selling Price x Total sales
Q.11.
Expenses are...
The cost of producing a product, otherwise called direct costs
Other costs that are not related to producing the product, otherwise known as indirect costs
Cost that do not change with output
Running costs
Q.12.
Which 3 of the following costs would be considered as expenses?
Rent
Utility bills
Tax
All of above
Q.13.
Expenses can be referred to as 'Overheads'.
True
False
Q.14.
If a business's costs exceeds it sales revenue, it will experience a ........?
loan
profit
loss
debt
Q.15.
What is a variable cost?
A cost which does not change
A cost which they must pay even if they produce nothing
A cost which changes the more or less the business produces
A cost the business pays when they start
Q.16.
Which industry sector is an advertising agency part of?
The primary sector
The secondary sector
The tertiary sector
None of these
Q.17.
Which industry sector are raw materials a part of?
The primary sector
The secondary sector
The tertiary sector
All of above
Q.18.
What is a car an example of?
A cost
A service
A product
All of above
Q.19.
Which of the following describes the money going into a business?
An input
Revenue
An output
None of these
Q.20.
Which 3 of these are costs?
Fixed
Variable
Operating
All of above
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