Introduction to Business Module Quiz

People expect profits or money income. Economic activities are guided by rational consideration as they involve the use of scare economic resources such as land, labour, ______ etc.

A doctor attending to patients in his/her clinic is engaged in an ______ activity.

Activities, which are not performed to earn money but to get some satisfaction, are called non-economic ______.

Economic activities lead to creation of wealth and ______.

We live in a ______ environment.

People don’t expect profits or money income. Non-economic activities are motivated by emotional and ______ reasons. No economic consideration is involved.

It satisfies our wants by providing variety of goods and services through wide networking of ______ activities.

This module has been designed to enable the learners to be aware of the world of ______, recognize its importance, objectives, understand the different types of business activities and new developments like e-commerce as well as appreciate the responsibilities of business towards different stakeholders.

When we look around us, we observe that most of the people are engaged in various ______.

In this way, people are busy during the day and sometimes during the night throughout the ______.

Each one of them has a long process behind it. The manufacturer produces goods for the ______

Industry is concerned with the production of goods and materials, while commerce is mainly concerned with their ______

Consumer goods are goods, which are used finally by ______

The term industry refers to that part of the business activity which is concerned with: i. Extracting materials like coal, iron ore, petroleum (called extractive ______)

Primary industry is concerned with production of goods with the help of ______

According to Urwick and Hunt, “Business is any enterprise which makes, distributes, or provides any article or service, which other members of the community need and are able and willing to pay for. It, therefore, includes all those activities which involve production or purchase of goods or rendering of certain services with the object of selling them at a ______.

Business comprises all ______ seeking activities and enterprises that provide goods and services necessary to an economic system.

The basic cause of all productive activities is the unlimited wants of human being and the need to satisfy them. Human wants are many and also complex in nature. Though the basic requirements of human beings are three viz., food, clothing and ______.

We are consuming many other things which have to be generally ______ for.

It satisfies our wants by providing variety of goods and services through wide networking of ______ activities.