MCQs for Business Studies Class 11 with Answers Chapter 1 Business Trade and Commerce

Students of class 11 Business Studies should refer to MCQ Questions Class 11 Business Studies Business Trade and Commerce with answers provided here which is an important chapter in Class 11 Business Studies NCERT textbook. These MCQ for Class 11 Business Studies with Answers have been prepared based on the latest CBSE and NCERT syllabus and examination guidelines for Class 11 Business Studies. The following MCQs can help you to practice and get better marks in the upcoming class 11 Business Studies examination

Chapter 1 Business Trade and Commerce MCQ with Answers Class 11 Business Studies

MCQ Questions Class 11 Business Studies Business Trade and Commerce provided below have been prepared by expert teachers of grade 11. These objective questions with solutions are expected to come in the upcoming Standard 11 examinations. Learn the below provided MCQ questions to get better marks in examinations.


Question. Following are the characteristics of business risks. One of them is not correct. Please identify it.
(a) Loss is the reward for risk bearing
(b) Business risks are due to uncertainties
(c) Risk is an essential component of every business
(d) Degree of risk depends mainly upon the nature and size of business   

Answer

A

Question. Specialized knowledge and skill is needed in :
(a) Employment
(b) Non-Economic activity
(c) Profession
(d) None of these.   

Answer

C

Question. Which of the following cannot be classified as an auxiliary to trade :
(a) Mining
(b) Insurance
(c) Warehousing
(d) Transport.

Answer

A

Question. Which of the broad categories of industries covers oil refinery and sugar mills?
(a) Primary
(b) Secondary
(c) Tertiary
(d) None of them

Answer

B

Question. Which of the following does not characterize business activity?
(a) Production of goods & services
(b) Presence of risk
(c) Sale or exchange of goods and services
(d) Salary and wages

Answer

D

Question. The industries which provide support services to other industries are known as ___________ 
(a) Primary industries
(b) Secondary industries
(c) Commercial industries
(d) Tertiary industries

Answer

D

Question. The occupation in which people work for others and get remunerated in return is known as :
(a) Business
(b) Employment
(c) Profession
(d) None of them.

Answer

B

Question. Which one of the following may not be a factor behind starting a business?
(a) Routine workload
(b) size of the firm
(c) finance
(d) location of the business

Answer

A

Question. ‘Earning of profit is considered to be the subsidiary objective of the business.’ The given statement is
(a) True
(b) false
(c) cannot say
(d) None

Answer

B

Question.Which one of the following may not be a factor behind starting a business?
(a) Routine workload
(b) size of the firm
(c) finance
(d) location of the business

Answer

A

Question. Which of the following is not a function of management?
(a) Management is all pervasive
(b) Management is multi-dimensional
(c) Identification of threats & warnings
(d) Location of business

Answer

C

 Question. Commerce includes activities relating to trade and _________________ to trade.
(a) Auxiliaries
(b) Subsidiaries
(c) Supporting
(d) None of the above

Answer

A

Question. Which factor doesn’t describe management as science:-
(a) Systematized body of knowledge
(b) Universal validity
(c) Ethical code of conduct
(d) Principles based on experimentation

Answer

C

Question. Which of the following is not a characteristic of a business activity?
(a) Wages
(b) Sale of product
(c) The factor of risk
(d) Manufacturing goods and services

Answer

A

Question. The industries which provide support services to other industries are known as :
(a) Primary industries
(b) Secondary industries
(c) Commercial industries
(d) Tertiary industries.

Answer

D

Question. The word marketing standing is concerned with _____
(a) Position of an enterprise
(b) Supply of the product
(c) Customers
(d) Competitors

Answer

A

Question. Human activities are of _____ types:-
(a) One
(b) Two
(c) Three
(d) Four

Answer

B

Question. Which of the following cannot be classified as an auxiliary to trade?
(a) Transport
(b) Insurance
(c) Mining
(d) Warehousing

Answer

C

Question. The industries which provide support services to other industries are known as
(a) Primary industries
(b) Commercial industries
(c) Tertiary industries
(d) Secondary industries

Answer

C

Question: Which of the following cannot be classified as an auxiliary to trade?
(a) Mining
(b) Insurance
(c) Warehousing
(d) Transport

Answer

A

Question. Which one of the following is an economic activity in which specialized knowledge is required?
(a) Profession
(b) Business
(c) Employment
(d) None of the above

Answer

A

Question. Which has the large scope :
(a) Trade
(b) Commerce
(c) Industry
(d) Business

Answer

B

Question. Which of the broad categories of industries covers oil refinery and sugar mills?
(a)Primary
(b)Secondary
(c)Tertiary
(d)None of these

Answer

B

 Question: Which of the following cannot be classified as an objective of business?
(a)Investment
(b) Productivity
(c) Innovation
(d)Profit earning

Answer

A

Question. Tea is mainly produced in Assam; Cotton in Gujarat and Maharashtra; Jute in west Bengal and Orissa; Sugar in U.P, Bihar and Maharashtra. But these goods are required for consumption in different parts of the country. For this purpose ________ is very important.
(a) Banking and Finance
(b) Advertising
(c) Insurance
(d) Transport and Communication

Answer

D

Question. Which of the following involves maximum risk?
(a) An industry
(b) A commerce activity
(c) A trade
(d) none of these

Answer

A

Question. Which of the following is not an example of non-economic activity?
(a) Patriotism
(b)teaching
(c)sentiment
(d)sympathy

Answer

B

Question. Business is :
(a) Art
(b) Science
(c) Both (a) and (b)
(d) None of these 

Answer

C

We hope the above multiple choice questions for Class 11 Business Studies for Chapter 1 Business Trade and Commerce provided above with answers based on the latest syllabus and examination guidelines issued by CBSE, NCERT and KVS are really useful for you. Business Trade and Commerce is an important chapter in Class 11 as it provides very strong understanding about this topic. Students should go through the answers provided for the MCQs after they have themselves solved the questions. All MCQs have been provided with four options for the students to solve. These questions are really useful for the benefits of class 11 students. Please go through these and let us know if you have any feedback in the comments section.

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