Business Environment - Class 12 Business Studies - Chapter 3 - Notes, NCERT Solutions & Extra Questions
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Extra Questions - Business Environment | NCERT | Business Studies | Class 12
Business is the activity of making one's living by producing or buying and selling products.
A) True
B) False
Correct Answer: A) True
Explanation:The statement given describes the essential activities involved in a business, including producing and buying and selling products. The core essence of any business is to engage in activities such as manufacturing, trading, or providing services with the ultimate goal of generating profit. Thus, the statement accurately captures the fundamental nature of business operations, making option A) True the correct answer.
In traditional business, ease of formation is ____________ as compared to e-business.
A. Easy
B. Difficult
C. Rigid
D. None of the above
The correct answer is B. Difficult
In traditional business, the ease of formation is considered difficult compared to e-business. This is due to various factors such as the need for physical location, licenses, and longer setup times among others.
Environment of business will be affected by the prohibition on advertisements of alcoholic beverages.
Economic
Social
Legal
Political
The correct option is C) Legal
Prohibiting advertisements for alcoholic beverages is executed by the government through the enactment of laws. This emphasizes the legal environment affecting the business.
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