Business Studies Quiz - Nature and Purpose of Business
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1. What is the primary objective of business?
To create social impact · To earn profit · To provide employment · To promote innovation
2. Which of the following is NOT a characteristic of business?
Continuous process · Risk-taking · Charitable nature · Economic activity
3. What type of business aims to provide goods and services without the primary goal of profit?
For-profit business · Non-profit organization · Partnership firm · Sole proprietorship
4. Which of the following best describes the term 'business'?
Any activity that involves selling · An economic activity aimed at earning profit · Only manufacturing activities · Any activity performed for charity
5. Which of the following is a feature of business?
It is a one-time activity · It involves risk · It is always a legal activity · It does not require planning
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