Business Org. lec. 2

Question 1

extends to management techniques, such as motivating employees with recognition and incentives. highly skilled workers

Accepted Answer

Human Resources

Question 2

is an entity aimed at carrying on commercial enterprises by providing goods or services, to meet needs of the customers.

Accepted Answer

Business Organization

Question 3

Human activity directed towards producing or acquiring wealth through buying and selling of goods.

Accepted Answer

Lewis Henry

Question 4

is an agreement between an employer and an employee that the employee will provide certain services on the job.

Accepted Answer

EMPLOYMENT

Question 5

can be earned by maintaining social responsibility. It survives to include every aspects of human civilization.

Accepted Answer

Profit

Question 6

anything offered to a market to satisfy a want or need. It can be a physical good, a service, or even an idea.

Accepted Answer

Product

Question 7

Business may refers to a form of activity conducted with an objec tive of earning profits for the benefit of those…

Accepted Answer

Dicksee

Question 8

explains that the business of business is to earn profit thought production and marketing of products

Accepted Answer

Traditional Concepts

Question 9

Every business transaction has minimum two parties that is, Business is nothing but a contract or an agreement between

Accepted Answer

Buyer and Seller

Question 10

All business activities are directly or indirectly concerned with the exchange of goods or services for money

Accepted Answer

Exchange of Goods and Services

Question 11

the divisions are organized by the company’s geographic operating areas. centralized

Accepted Answer

Geography

Question 12

Modern business is service oriented. Modern businessmen are conscious of their social responsibility. service-oriented

Accepted Answer

Social Obligations

Question 13

Anyone cannot run a business. To be a good businessman, one needs to have good business qualities and skills.

Accepted Answer

Business Skills for Economic Success

Question 14

Business activity may be concerned with ___ goods in which case it is called as commercial activity

Accepted Answer

Marketing and Distribution of Goods

Question 15

is defined as the doing of work (paid and unpaid), play or activities of daily living within a temporal, physical

Accepted Answer

human occupation

Question 16

The regular production or purchase and sale of goods un dertaken with an objective of earning profit satis. human wants.

Accepted Answer

Stephenson

Question 17

the business is carried on with the intention of earning a profit

Accepted Answer

Profit is the Main Objective

Question 18

The term ‘business’ is derived from the word __ work, efforts and acts of people which are connected with the production

Accepted Answer

Busy

Question 19

Businesses of all sizes employ marketing techniques to make customers aware of their goods and services.

Accepted Answer

Effective Marketing

Question 20

The word ‘business’ means ‘a

Accepted Answer

State of being busy

Question 21

In business there has to be dealings in goods and service.

Accepted Answer

Deals in Goods and Services

Question 22

Business is subject to risks and uncertainties. Some risks, such as risks of loss due to fire and theft can be insured.

Accepted Answer

Risks and Uncertainties

Question 23

It views the modern business as a socio-economic institution which always responsible towards the society.

Accepted Answer

Modern Concepts

Question 24

One of the most essential and common traits among effective businesses is the ability to make a profit

Accepted Answer

Profitability

Question 25

the divisions are organized by the customer segments served by the company.

Accepted Answer

Market

Question 26

Goods which are used by final consumer for consumption are called

Accepted Answer

Consumer goods

Question 27

is an important activity of human beings.

Accepted Answer

Business

Question 28

Business may defined as any and all of those activities connected with the production and exchange of goods or services

Accepted Answer

Dictionary of Business and Finance

Question 29

In business, the exchange of goods and services is a regular feature.

Accepted Answer

Deals in Numerous Transactions

Question 30

something a little more than a job, it is a career for someone that wants to be part of society, disciplined group

Accepted Answer

PROFESSION

Question 31

is the central point of modern concepts of business.

Accepted Answer

Consumer satisfaction

Question 32

refer to the interactions between a company’s representatives and its customers, as well as the views customers hold

Accepted Answer

Customer Relations

Question 33

Business without profit is not business.

Accepted Answer

C.F. Abbot

Question 34

Business may define as human activities directed towards production or acquiring wealth through buying and selling goods

Accepted Answer

L.H. Hanery

Question 35

Business activity may be connected with production of goods or services. it is called as industrial activity Primary/sec

Accepted Answer

Connected with Production

Question 36

The businessman also desires to__through conduct of business. producing and supplying various commodities, consumer sati

Accepted Answer

To Satisfy Human Wants

Question 37

Goods used by producer for further production are called

Accepted Answer

Producer Goods

Question 38

Divisions may also be a __ of one or more of the product, geography and market structures.

Accepted Answer

Hybrid

Business Org. lec. 2

Questions 38

Business Org. lec. 2

Questions 38