CONCEPT OF BUSINESS AND ITS OBJECTIVES

1. karan is running a grocery shop in the nearby local market whereas his friend Priyanshu
works as a finance manager in a reputed IT firm. In the context to the above. (a) Identify the
different types of economic activities both the friends are engaged in. (b) Distinguish between
the two different types of economic activities.
2. Harsh is a well known orthopedic doctor in Agra. He runs his private clinic under the name
'Joint and Bone Clinic'. In context to the above identify the types of economic activity that
Harsh is engaged in. (b) State any three features of the economic activity as identifed.
3. Shourya is Running a take away fast food giant in kanpur under the name 'swaad'.
Recently, when his cousin Rahul organised a party at his place he had placed an order for food
at Swaad worth Rs. 5000. Shourya declined to take the money from Rahul because of his love
and affection. (a) Will this be considered as an economic activity? Why? (b) Mention the
related feature.
4. Reema bought a new house recently. She plans to shift there in near future. So, she is
selling off old kitchen appliances at olx and has also made some profit. Will this transaction
be considered as a business activity? Mention the related feature
5. Deepak enterprises Ltd. has been earning high profits over the years. Its owner Mr. Deepak
sethi is leading a good standard of life. He plans to open a new branch office in a few months.
(a) Identify the different points highlighting the role of profit in business. (b) 'Earning profit
cannot be the only objective of business '. Do you agree?
6.Rodhni ltd. is a Mumbai based Indian mnc engaged in design,manufacturing and marketing
of products related to power generation, transmission and distribution. It has also set up a
factory for manufacturing solar lanterns in a remote area as there was no reliable supply of
electricity. (a) Identify and explain the types of objectives of business being fulfilled. (b)
Briefly explain any two economic objectives of business.
7.Radhika is running a small scale business of manufacturing Decoration items in Delhi.
Every year she contributes 10% of her profit to Manyata foundation , a popular NGO. Identify
the type of objective of business being fulfilled. (b) Explain any 3 other objectives of the
same type.
8.Anu and Renu are friends. after completing a course in fashion designing,ten years back,
both of them started their own saperate outlets. Renu buys readymade garments and sells
them in her store whereas Anu designs her own range of clothing. She gets them ready
through her team and sells them directly under the brand name. Although both of them are
making good returns on their investments but in past they have also incurred huge losses due
to changes in customer tastes and fashion. They cannot say about the certainity as to what
amount of profit will be earned by them in future. By quoting the lines,identify the various
features of business.
9. Classify the following into economic and non economic activities:-
(a) A mother paints a picture to gift on her daughter's birthday.
(b) Mrs. Verma has knowlodge of Cooking. She cooks food on days when the workers are on
leave. Her husband paid her for the work done