F.Y B.COM SEMESTER - I STRUCTURE & PROCESS OF BUSINESS (SPB) MCQS

 F.Y B.COM 

SEMESTER - I

MID SEMESTER EXAMINATION

STRUCTURE & PROCESS OF BUSINESS

(SPB)

MCQS - 2011

(1) Chambers of Commerce arranges for the settlement of disputes arising out of trade or commerce by means of

a) Informal Association

b) Arbitration

c) Collective bargaining

d) Conciliation

(2) In _______ the business policy of several companies is controlled by a group of commorn stock- holders or directors.

a) Community of Interest

b) Associations

c) Cartels

d) Federations

(3) The _________ was a phenomenon which radically altered the whole system of production.

a) Market Revolution

b) Product Revolution

c) Country Revolution

d) Industrial Revolution

(4) _______ Integration takes place when a unit providing essential auxiliary goods or services to an industry is combined with a unit operating in the main line of production.

a) Diagonal

b) Vertical

c) Circular

d) Lateral

(5) Prestige, Growth and ____________ are the basic motives for business combinations.

a) Survival

b) Exploitation

c) Risk

d) Progress

(6) When firms belonging to different industries and producing altogether different products combine together

under the banner of a central agency, it is referred to as __________ Combination.

a) Vertical

b) Horizontal

c) Lateral

d) Circular

(7) __________ refers to association of workers formed for protection their interest in industry.

a) Chamber of Commerce 

b) Federation

c) Trade union

d) None

(8) The business cycles are also known as _________

a) Waste cycles

b) Depression cycles 

c) Prosperity cycles

d) Trade cycles

(9) The intangible and invisible goods supplied by business concerns which cannot be stored by the Consumer is known as:

a) Producers' goods

b) Consumers' goods

c) Services

d) None of the above

(10) The basic objective of pool is to gain control over:

a) Public

b) Price

c) Market

d) None

(11) The members of Chambers of Commerce consists of:

a) Brokers

b) Merchants 

c) Bankers

d) All of the above

(12) When the demand of the Product and it's allocation is done amongst iť's members, it is known as.........

a) Export Pools

b) Traffic Pools

c) Market Pools

d) Profit Pools

[Q.13 to Q.16] Match the following item "X" with the most appropriate option from "Y"

(13)

X Communism	Y
	a) Sub-systems of industry
	b) More effect for society
	c) Government owns the economic resources
	d) Business concern the agency

(14) 

X Synthetic Industries	Y
	a) Reproducing plants
	b) Instrument assembled
	c) Wealth are drawn
	d) Combined process

(15)

X Wasteful competition	Y
	a) large scale production
	b) co-operative action
	c) rapid growth
	d) custom duties

(16)

X Service Combination	Y
	a) Circular Combination
	b) Horizontal Combination
	c) Diagonal Combination
	d) Vertical Combination

[Q.17 to Q.20] True & False: Select the most appropriate answer:

(17) (i) Industrial Revolution is brought about by a series of inventions like the "spinning jenny", "water frame", "mule", power loom, machine lathe, etc.

(ii) Mass production and specialization are not included in economic consequences

a) Statement (i) is true &statement (ii) is false

b) Statement (i) is False and statement (ii) is True

c) Statement (i) and (ii) both are False

d) Statement (i) and (ii) both are true

(18) (i) Profession is an occupation which involves the rendering of personal services of a special and expert nature,

(ii) In an Employment, a person has to work under an agreement or rules of service and perform such work as may be assigned to him by the employer.

a) Statement (i) is true & statement (ii) is false

b) Statement (i) is False and statement (ii) is True

c) Statement (i) and (ii) both are False

d) Statement (i) and (ii) both are true

(19) (i) Members of Chambers of Commerce do not confine their interests and operations only to a particular

trade or industry.

(ii) Members of a pooling agreement join together to regulate the demand or supply of a product.

a) Statement (i) is true & statement (ii) is false

b) Statement (i) is False and statement (ii) is True

c) Statement (i) and (ii) both are False

d) Statement (i) and (ii) both are true

(20) (i) The combinations encourages wasteful competition.

(ii) The combinations provides full play to the ambitions and abilities of capable entrepreneurs.

a) Statement (i) is true & statement (ii) is false

b) Statement (i) is False and statement (ii) is True

c) Statement (i) and (ii); both are False

d) Statement (i) and (ii) both are true

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