Class 11 Business Studies: Nature and Purpose of Business — Chapter Test 1

Class 11 • Business Studies • Nature and Purpose of Business • Chapter Test

MediumFREE

Questions

20 min

Duration

Marks (1 each)

Negative marking

Original practice questions with full solutions by ExamPortal.

Instructions

• Read each question carefully and pick the correct answer.
• You can mark questions for review and come back to them.
• Answers are saved automatically.
• The test is submitted automatically when time runs out.

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SYLLABUS & QUESTION BLUEPRINT

Sample Practice Questions

Preview 5 sample questions from this 15-question test. Test your knowledge below or take the full exam in timed CBT mode.

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Question 1 of 15

Business is an economic activity carried on to:

serve only society

earn profit by producing or exchanging goods and services

spend money

help the government

View Correct Answer & Step-by-Step Solution

Correct Option:(B)earn profit by producing or exchanging goods and services

Detailed explanation is available inside the official test attempt review.

Question 2 of 15

The three types of economic activities are:

business, profession and employment

farming, mining and trade

import, export and trade

buying, selling and storing

View Correct Answer & Step-by-Step Solution

Correct Option:(A)business, profession and employment

Detailed explanation is available inside the official test attempt review.

Question 3 of 15

A doctor practising privately is engaged in a:

business

profession

employment

trade

View Correct Answer & Step-by-Step Solution

Correct Option:(B)profession

Detailed explanation is available inside the official test attempt review.

Question 4 of 15

Industry refers to activities related to:

buying and selling

production or processing of goods

transport only

banking only

View Correct Answer & Step-by-Step Solution

Correct Option:(B)production or processing of goods

Detailed explanation is available inside the official test attempt review.

Question 5 of 15

Extractive industries include:

car manufacturing

mining and fishing

banking

retailing

View Correct Answer & Step-by-Step Solution

Correct Option:(B)mining and fishing

Detailed explanation is available inside the official test attempt review.

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Frequently asked questions

How many questions are there in Class 11 Business Studies: Nature and Purpose of Business — Chapter Test 1?

There are 15 questions to answer in 20 min. Each correct answer gives 1 mark, for a total of 15 marks.

Is there negative marking?

No. Wrong answers do not lose marks, so attempt every question.

Is this mock test free?

Yes, it is completely free. Just log in with your email to start.

What does this test cover?

It covers the chapter "Nature and Purpose of Business" of Class 11 Business Studies. All questions are original, with a full solution for each.

Will I see my result and the solutions?

Yes. Right after you submit you get your score, accuracy, rank and percentile, and you can review every question with the correct answer and a step-by-step explanation.

Can I take this test again?

Yes, you can retake it as many times as you like and compare your scores.