The various methods used to fulfill physical and mental conditions essentially to be fulfilled by humanare,(1) needs (2) wants (3) values(4) demand (5) goods (……)02. Which of the following is a classification of businesses based on ownership?(1) Primary businesses (2) Industrial sector (3) Public sector(4) Not-for-profit (5) Franchise businesses (……)03. Which of the following is not relevant for contribution of businesses for survival of economy?(1) National economic development (2) Generating employment opportunities(3) Innovation (4) Satisfying complex wants(5) Market expansion (……)04. Production sectors and some of their contents are given in column X and column Y respectively in thefollowing table.Column X Column Y1 – Primary production2 – Secondary production3 – Tertiary productionA – Information communication activitiesB – ManufacturingC – LivestockD – Dwelling and property businessE – Mining and quarryingF – Construction industrySelect the answer which contains the correct matching of column X and column Y.(1) 1 – C, E / 2 – B, F / 3 – A, D (2) 1 – A, B / 2 – C, D / 3 – E, F(3) 1 – A, E / 2 – B, D / 3 – E, F (4) 1 – C, E / 2 – B, F / 3 – A, D(5) 1 – B, C / 2 – D, E / 3 – A, F (……)
Question
The various methods used to fulfill physical and mental conditions essentially to be fulfilled by humanare,(1) needs (2) wants (3) values(4) demand (5) goods (……)02. Which of the following is a classification of businesses based on ownership?(1) Primary businesses (2) Industrial sector (3) Public sector(4) Not-for-profit (5) Franchise businesses (……)03. Which of the following is not relevant for contribution of businesses for survival of economy?(1) National economic development (2) Generating employment opportunities(3) Innovation (4) Satisfying complex wants(5) Market expansion (……)04. Production sectors and some of their contents are given in column X and column Y respectively in thefollowing table.Column X Column Y1 – Primary production2 – Secondary production3 – Tertiary productionA – Information communication activitiesB – ManufacturingC – LivestockD – Dwelling and property businessE – Mining and quarryingF – Construction industrySelect the answer which contains the correct matching of column X and column Y.(1) 1 – C, E / 2 – B, F / 3 – A, D (2) 1 – A, B / 2 – C, D / 3 – E, F(3) 1 – A, E / 2 – B, D / 3 – E, F (4) 1 – C, E / 2 – B, F / 3 – A, D(5) 1 – B, C / 2 – D, E / 3 – A, F (……)
Solution
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The methods used to fulfill physical and mental conditions essentially to be fulfilled by humans are needs, wants, values, demand, and goods.
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The classification of businesses based on ownership includes the public sector and franchise businesses. Primary businesses and the industrial sector are classifications based on the type of business activity, not ownership. Not-for-profit is a classification based on the purpose of the business, not ownership.
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All of the options listed contribute to the survival of the economy. National economic development, generating employment opportunities, innovation, satisfying complex wants, and market expansion are all relevant to the contribution of businesses for the survival of the economy.
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The correct matching of column X and column Y is 1 – C, E / 2 – B, F / 3 – A, D. This means that primary production includes livestock and mining and quarrying, secondary production includes manufacturing and the construction industry, and tertiary production includes information communication activities and dwelling and property business.
Similar Questions
Through production,(1) consumers’ needs are fulfilled. (2) consumers’ wants are fulfilled.(3) needs and wants are fulfilled. (4) resources are used to fulfill consumers’ needs.(5) consumers’ standard of living would increase by increasing consumers’ income. (……..)02. Characteristics of business and business activities are given below.A – Fulfillment of needs and wantsB – Motivated by profitC – Existence riskD – Adding value to resourcesE – An economic activity(1) A, B, C (2) B, C, E (3) B, G, E(4) A, D, E (5) B, C, D03. The first stage of business evolution is,(1) personal specialization (2) industrial revolution (3) barter system(4) direct production (5) use of money04. Production sectors and their contents are given in column X and Y respectively in the following table.X YA – Agricultural sectorB – Industrial sectorC – Service sector1. Livestock production2. Frostry works3. Waste management4. Information and communication5. Water treatment and supply6. Dwelling and property businessSelect the answer which correctly matches the production sectors in the column X and their contents incolumn Y.(1) A – 1, 3 B – 2, 5 C - 4, 6 (2) A – 1, 3 B – 2, 4 C – 5, 6(3) A - 1, 2 B – 3, 5 C – 4, 6 (4) A – 1, 4 B – 2, 3 C – 5, 6(5) A – 1, 3 B – 2, 6 C – 4, 5
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