GS: Hindi / English · Language questions stay in their original language.
120 questions · 120 marks · 2 hours
Choose one option per question.
Tap an option to check it, or open “See answer”.
Correct answer: (C) Letter of Credit
An import transaction needs a letter of credit, since that is what assures the foreign seller of payment. A shipping bill is an export document.
Correct answer: (A) Discipline
Both management and workers honouring their commitments is what Fayol calls discipline.
Correct answer: (C) Cooperation, not Individualism
Under ‘cooperation, not individualism’ management and workers work together, and employees are invited to offer their suggestions on important decisions.
Correct answer: (C) Lean manufacturing
Lean manufacturing is aimed at cutting the seven wastes of production—overproduction, waiting, transport, over-processing, inventory, motion and defects.
Correct answer: (C) Standardization and simplification
Standardization and simplification make parts uniform in size and type, and that is what establishes their interchangeability.
Correct answer: (A) Initiative
The government weighed the harm plastic does and acted on its own, so the decision illustrates Fayol's principle of initiative.
Correct answer: (E) None of the above
Auxiliary service activities fall under the services that aid trade, that is commerce, and not under any class of industry—so the answer is ‘None of these’.
Correct answer: (A) Proforma invoice
The quality, grade, design and size are set out in the proforma invoice, which is sent before the deal is settled.
Correct answer: (A) Departmental store
A departmental store sells a very wide variety of goods under one roof, which is why it is called a universal supplier.
Correct answer: (C) Head office
Every branch of a chain store follows the instructions of the head office, which fixes the prices, the goods and the policies.
Correct answer: (A) Itinerant retailers
Retailers with no fixed place of sale are called itinerant retailers—hawkers and pedlars, for instance.
Correct answer: (D) More than one of the above
Drawing up a business plan, choosing the product and selecting the location are all steps in setting up a new enterprise, so the answer is ‘more than one’.
Correct answer: (C) Entrepreneurship takes place in a wide variety of contexts
Entrepreneurship occurs in small businesses and in large ones, and in the social and government sectors too, so it is an activity found in a variety of contexts.
Correct answer: (C) One State to another State
Shifting the registered office from one state to another needs the prior approval of the Central Government, because it changes the Registrar's jurisdiction.
Correct answer: (D) More than one of the above
The paradigm of consumer behaviour has been changed by technological, economic and environmental change alike, so the answer is ‘more than one’.
Correct answer: (C) Convenient access to a wide range of products
The advantage of internet shopping is just this—convenient access, from home, to a wide range of products.
Correct answer: (B) Social influence
Relying on the opinions, reviews and recommendations of others is called social influence.
Correct answer: (A) Impulse buying
A purchase made unplanned, on the spur of the moment, is called impulse buying.
Correct answer: (D) More than one of the above
Needs and wants, creating a market offering and customer value are all features of marketing, so the answer is ‘more than one’.
Correct answer: (E) None of the above
A risk bearing on mental health is psychological risk, which is not among the options—so the answer is ‘None of these’.