Chapter 1: Overview of Business

Questions Set: Multiple choice Questions

Q.1 Industrial Sector involves _____________________.
a) Construction
b) Fisheries
c) Textile
d) All of the Above
Q.2 GATT was created in __________________________.
a) 1950
b) 1947
c) 1948
d) 1951
Q.3 India is awarded a certification of POLIO free country by________.
a) World Health Organization
b) World Health Center
c) National Health Center
d) None of the above
Q.4 Types of business ____________.
a) Service
b) Manufacturing
c) Trade
d) All of the Above
Q.5 Textile industrial sector involves_________________.
a) Petrochemical
b) Sericulture
c) Tobacco
d) Seeds
Q.6 Indian Central Bank is ___________________.
a) Shamrao Vitthal Co-operative Bank (SVC).
b) State Bank of India(SBI)
c) Reserve Bank of India(RBI)
d) Central Bank of India(CBI)
Q.7 Top agro industry in India is ___________.
a) DuPont India
b) FabIndia
c) Pidilite
d) None of the above

Collected by ~~~~~Prof. Awaghade S. S.

Chapter 1: Overview of Business
Q.8 Insurance companies are growing at the annual compound rate of ________.
a) 100%
b) 30%-40%
c) 15%-20%
d) 30%
Q.9 Major functions of insurance Company _____________.
a) To provide certainty
b) To provide protection
c) Shares risk
d) All of Above.
Q.10 Cipla is a ___________.
a) Textile Industry
b) Process Industry
c) IT industry
d) Chemical Industry
Q.11 WTO stands for__________________.
a) World Test Organization
b) World Trade Organization
c) Work Test Organization
d) World Trade Organics
Q.12 ITO stands for_______________.
a) International Trance Organization
b) International Test Organization
c) Internal Trade Organization
d) International Trade Organization
Q.13 GATT stands for_______________.
a) Global Agreement on Tariffs and Trade
b) General Aggregation on Tariffs and Trade
c) General agreement on Tariffs and Trade
d) General agreement on Traffics and Trade
Q.14 LPG___________________.
a) Liquid, Petroleum, Gas
b) Liberalization,Privatization, Globalization
c) Liberate, Private, Globalization
d) Liberate, Private,Global

Collected by ~~~~~Prof. Awaghade S. S.

Chapter 1: Overview of Business
Q.15 India is awarded a certification of POLIO free country in _______________.
a) January 2011
b) January 2009
c) January 2014
d) June 2011
Q.16 ITDC stands for ___________________.
a) Indian Tourist Development Corporation
b) Indian Tourism Development Corporation
c) Indian Tourist Development Co-operative
d) Indian Tourism Data Corporation
Q.17 Hospitality industry categories________________.
a) Food and Beverages
b) Accommodations
c) Travel and Tourism
d) All of Above.
Q.18 FTA stands for ___________________.
a) Financial Transfer Arrival
b) Foreign Transfer Arrival
c) Foreign Tourist Arrival
d) Foreign Tourist Arrangement
Q.19 Service enterprise provides the services that are called as _______________.
a) Intangible goods
b) Manufacturing
c) All of Above
d) None of Above.
Q.20 Engineering Industrial Sector not involves _____________________.
a) Civil
b) Mechanical
c) Chemical
d) Filament yard
Q.21 Business is the Process of providing platform to the people to exhibit their
_______________ and _____________________abilities.
a) Technical and economical
b) Thinking and Mental
c) Technical and Managerial
d) Leadership and vocal

Collected by ~~~~~Prof. Awaghade S. S.

Chapter 1: Overview of Business
Q.22 Which one of the following is not a broad category of chemical industry?
a) Durable products
b) Basic chemical
c) Life sciences
d) Consumer products
Q.23 According to Drucker , the purpose of business :
a) To get money
b) To acquire success in market
c) To satisfy customers
d) To create and keep customers
Q.24 Which one of the following is a fertilizer?
a) Nitrogen
b) Soda ash
c) Chlorine
d) Ammonia
Q.25 Which one of the following categories of chemical industries has smallest
volume?
a) Basic chemicals
b) Life sciences
c) Speciality chemicals
d) Consumer products
Q.26 Which one of the following processes is not a part of textile industry?
a) Spinning
b) Weaving
c) Dying
d) Polishing
Q.27 Which one of these is not a relevant factor in process industries ?
a) Goods
b) Ingredients
c) Formulas
d) Bulk
Q.28 What plays an important role in the Indian textile industry?
a) Satin
b) Wood
c) Cotton
d) Machines

Collected by ~~~~~Prof. Awaghade S. S.

Chapter 1: Overview of Business
Q.29 Which of the following can’t be used in textile industry?
a) Cotton
b) Wool
c) Jute
d) polythene
Q.30 What does a business provide to customers in exchange of their money?
a) Goods and services
b) Profit and services
c) Satisfaction and reliability
d) Knowledge and happiness
Q.31 Which one of the following is not a type of business?
a) Service
b) Manufacturing
c) Machining
d) Trade
Q.32 Service sector is also known as :_______________________________.
a) Primary Sector
b) Secondary Sector
c) Quarterly sector
d) Tertiary sector
Q.33 What is manufacturing ?
a) Acquiring customers
b) Production of merchandise
c) Gaining profit
d) Completing demand
Q.34 What are the types of trade?
a) Profitable and loss
b) Singular and plural
c) Bilateral and multilateral
d) Direct and indirect
Q.35 Which one of the largest segment in Indian industry?
a) Textile industry
b) Banking industry
c) Chemical industry
d) Engineering industry
Q.36 What are the segments of engineering sector?
a) Precise and controlled
b) Heavy and light
c) Heavy and technical d) Civil and mechanical

Collected by ~~~~~Prof. Awaghade S. S.

Chapter 1: Overview of Business
Q.37 Chemical industries produce __________________in the largest quantity.
a) Soda and soaps
b) Polymers and plastics
c) Cosmetics and paper
d) Water and detergents
Q.38 ____________________is the leading manufacturer in the chemical industry.
a) Tata Petrochemicals
b) Parle Agro-products
c) Hindustan Unilever
d) Reliance Petrochemicals
Q.39 What is mainstay of Indian Economy?
a) Agriculture
b) Chemicals
c) Engineering
d) Textile industries
Q.40 India has very large export of processed ______________________.
a) Chemicals
b) Fruits and vegetables
c) Finished products
d) Fishes
Q.41 ____________policy covers all the medical expenses following hospitalization.
a) Health insurance
b) Travel insurance
c) Life insurance
d) Motor insurance
Q.42 Very recently, the Indian Government has permitted _____% FDI in the
insurance sector .
a) 49
b) 48
c) 50
d) 51
Q.43 Retailers can be classified into:
a) Big and Small
b) Classified and Non-classified
c) Individual and group
d) Organized and unorganized

Collected by ~~~~~Prof. Awaghade S. S.

Chapter 1: Overview of Business
Q.44 The Govt. of India has allowed _______% FDI in single brand retail trading.
a) 49
b) 51
c) 100
d) 50
Q.45 In multi brand retail trading, the permission for FDI is ___________%.
a) 49
b) 51
c) 100
d) 50
Q.46 India is largely an ________retail market.
a) Unorganized
b) Profitable
c) Organized
d) Black
Q.47 Hospitality falls under ______________sector.
a) Public
b) Retail
c) Private
d) Service
Q.48 Which one of the following is not a major segment of hospitality industries?
a) Accommodation
b) Food services
c) Public relation
d) Other hospitality operations
Q.49 The health care sector in India is controlled by :
a) Public sector
b) Private sector
c) Hospitality sector
d) Government
Q.50 The process of transferring ownership of business from sector to private
sector is:
a) Privatization
b) Liberalization
c) Trading
d) Globalization

Collected by ~~~~~Prof. Awaghade S. S.

Chapter 1: Overview of Business
Q.51 The relaxation of previous government restrictions economic policies,
transfer of trade and foreign direct investment is :
a) Privatization
b) Globalization
c) Liberalization
d) Modernization
Q.52 The promise to compensate for any potential failure is called as ___________.
a) Fixed deposit
b) Recurring
c) Insurance
d) Interest
Q.53 For paying amount up to 2 lacs, _________________is a better choice.
a) Demand draft
b) Cheque payment
c) RTGS
d) NEFT
Q.54 Commission charged by a bank on DD is_______________ charges applied to
RTGS &NEFT.
a) Less than
b) Equal to
c) More than
d) Negligible to
Q.55 The certain amount which an insurer pays to the company is:
a) Fixed deposit
b) EMI
c) Premium
d) Bill
Q.56 It takes too many days for payment by____________________________.
a) Demand draft
b) Cheque
c) Cash
d) RTGS

Collected by ~~~~~Prof. Awaghade S. S.

Chapter 1: Overview of Business

Answers:
1. d 2.b 3.a 4.d 5.b 6.c 7.a
8.c 9.d 10.d 11.b 12.d 13.c 14.b
15.a 16.b 17.d 18.c 19.a 20.d 21.c
22.a 23.d 24.d 25.b 26.d 27.a 28.c
29.d 30.a 31.c 32.d 33.b 34.c 35.d
36.b 37.b 38.d 39.a 40.b 41.a 42.a
43.d 44.c 45.b 46.a 47.d 48.c 49.b
50.a 51.c 52.c 53.d 54.c 55.c 56.c

Collected by ~~~~~Prof. Awaghade S. S.