general topics of "Evolution and Fundamentals of Business"

 Here are 30 multiple-choice questions (MCQs) based on the general topics of "Evolution and Fundamentals of Business" with answers included:

### 1. What is the primary objective of any business?

A. Providing employment  

B. Maximizing profit  

C. Social welfare  

**Answer: B. Maximizing profit**

### 2. Which of the following is a feature of business?

A. Involves risk  

B. No need for capital  

C. Not subject to laws  

**Answer: A. Involves risk**

### 3. The term "business" is derived from which word?

A. Busy  

B. Busyness  

C. Businessman  

**Answer: A. Busy**

### 4. The earliest form of business was based on:

A. Barter system  

B. Online trade  

C. Industrial production  

**Answer: A. Barter system**

### 5. Which of the following is NOT a classification of business activities?

A. Industry  

B. Commerce  

C. Insurance  

**Answer: C. Insurance**

### 6. Who defines business as “a continuous human activity directed towards producing or acquiring wealth through buying and selling of goods”?

A. Peter Drucker  

B. Wheeler  

C. Henry Fayol  

**Answer: B. Wheeler**

### 7. What is the primary characteristic of trade?

A. Risk-taking  

B. Buying and selling  

C. Production of goods  

**Answer: B. Buying and selling**

### 8. Which economic activity deals with the production, distribution, and consumption of goods and services?

A. Business  

B. Accounting  

C. Finance  

**Answer: A. Business**

### 9. Which one of the following is NOT a part of commerce?

A. Trade  

B. Warehousing  

C. Manufacturing  

**Answer: C. Manufacturing**

### 10. The evolution of business can be divided into how many stages?

A. Four  

B. Three  

C. Five  

**Answer: A. Four**

### 11. Which of the following is considered as the secondary sector in business?

A. Manufacturing  

B. Agriculture  

C. Mining  

**Answer: A. Manufacturing**

### 12. Which of the following is a part of tertiary sector?

A. Construction  

B. Banking  

C. Fishing  

**Answer: B. Banking**

### 13. Which of the following is an example of a business involved in the primary sector?

A. Retailing  

B. Agriculture  

C. Advertising  

**Answer: B. Agriculture**

### 14. What is meant by the term 'entrepreneurship'?

A. Risk-free business  

B. Employment for all  

C. Taking risks to start a new business  

**Answer: C. Taking risks to start a new business**

### 15. Which type of business involves the extraction of natural resources?

A. Tertiary  

B. Primary  

C. Secondary  

**Answer: B. Primary**

### 16. In which era did the industrial revolution begin?

A. 18th century  

B. 20th century  

C. 16th century  

**Answer: A. 18th century**

### 17. Which of the following is an intangible product?

A. Software  

B. Clothes  

C. Automobiles  

**Answer: A. Software**

### 18. Which of the following is an example of service business?

A. Banking  

B. Mining  

C. Manufacturing  

**Answer: A. Banking**

### 19. The term 'commerce' includes:

A. Production of goods  

B. Distribution and exchange of goods  

C. Agricultural activities  

**Answer: B. Distribution and exchange of goods**

### 20. Which business function is responsible for managing finances?

A. Human Resources  

B. Marketing  

C. Accounting  

**Answer: C. Accounting**

### 21. Which of the following is NOT a feature of a business?

A. Profit motive  

B. Certainty of returns  

C. Risk factor  

**Answer: B. Certainty of returns**

### 22. The process of transferring products from producers to consumers is known as:

A. Production  

B. Commerce  

C. Marketing  

**Answer: B. Commerce**

### 23. Which business activity includes branding and advertising?

A. Finance  

B. Human Resources  

C. Marketing  

**Answer: C. Marketing**

### 24. A business entity that focuses on selling to other businesses is known as:

A. B2C (Business to Consumer)  

B. B2B (Business to Business)  

C. B2G (Business to Government)  

**Answer: B. B2B (Business to Business)**

### 25. Which form of business is owned by shareholders?

A. Partnership  

B. Corporation  

C. Sole Proprietorship  

**Answer: B. Corporation**

### 26. The term “capital” in business refers to:

A. Human resources  

B. Financial resources  

C. Physical resources  

**Answer: B. Financial resources**

### 27. What is the key factor differentiating goods from services?

A. Goods are intangible, services are tangible  

B. Goods are tangible, services are intangible  

C. Both are intangible  

**Answer: B. Goods are tangible, services are intangible**

### 28. Which of the following is an example of e-commerce?

A. Physical stores  

B. Online shopping  

C. Factory production  

**Answer: B. Online shopping**

### 29. Which function of business is concerned with recruitment and training?

A. Marketing  

B. Finance  

C. Human Resources  

**Answer: C. Human Resources**

### 30. The fu

ndamental business strategy aimed at gaining a competitive advantage in the market is called:

A. Marketing  

B. Corporate strategy  

C. Branding  

**Answer: B. Corporate strategy