Free PDF download of NCERT Solutions for Class 11 Business Studies Chapter 1 Nature and Purpose of Business solved by Expert Teachers as per NCERT (CBSE) Book guidelines. All Chapter wise Questions with Solutions to help you to revise complete Syllabus and Score More marks in your examinations NCERT Solutions Class 11 Business StudiesBusiness Studies Sample Papers I. Multiple Choice Questions II. Short Answer Type Questions Question 2. Why is business considered an economic activity? Question 3. Explain the concept of business. Question 4. How would you classify business activities?
II. Commerce: Commerce refers to all those activities which are concerned with the transfer of goods and services from the producers to the consumers. It embraces all those activities which are necessary for maintaining a free flow of goods and services. It includes trade and auxiliary to. trade. Trade refers to buying and selling of goods and services with the objective of earning profit. It is classified into two categories.
III. Auxiliaries to Trade: All those activities which help in removing various hindrances which arise in connection with the production and distribution of goods are called auxiliaries to trade. An overview of these activities is given below:
Question
5. What are the various types of industries?
2. Secondary Industry: Under this industry, new products are manufactured by using the previously produced things e.g., producing cotton is a primary industry and manufacturing cloth out of cotton is a secondary industry. It is of two types.
3. Tertiary or Service Industry: It includes those services which help business to move smoothly e.g. transport, bank, insurance, storage and advertising. Question 6. Explain any two business activities which are auxiliaries to trade.
Question 7. What is the role of profit in business?
Question 8. What is business risk? What is its nature?
III. Long Answer Type Questions
Question 2. Compare business with profession and employment. Question 3. Explain
with examples the various types of industries.
Question 4. Describe the activities relating to commerce.
Question 5. Why does business need multiple objectives? Explain any five such objectives.
Question 6. Explain the concept of business risk and its causes.
Question 7. What factors are important to be considered while starting a business? Explain.
MORE QUESTIONS SOLVEDI. Multiple Choice Questions II. Short Answer Type Questions Question.2. What are the functions of commerce?
Question 3. Distinguish between industry, trade and commerce. Question 4. Can
profits be the sole objective of a business? Justify your answer by giving suitable reasons.
Question 5. Explain political and
legal causes of business risks.
For example, an increase in tax rates may reduce profit margin of the business or an Question 6. Differentiate between insurable risks and non-insurable risks. Question 7. What are the hindrances in commerce? Which agencies are used to remove these hindrances?
III. Long Answer Type Questions
Question 2. Explain the economic and social objectives of the business.
Question 3. Define commerce. Discuss its importance in the business world.
These functions are divided into:
Question 4. “No business is risk free.” Do you agree? Justify your answer, mentioning the nature and causes of business risk.
IV. Higher Order Thinking Skills
(HOTS)
Question 2. “Risk is the element which makes the business different from other economic activities.” Do you agree? Justify your answer.
V. Value Based Questions Question 2. If you need , to start doing an economic activity to earn livelihood for
your family, which one would you like and why?
Question 3. If one starts a business, which objective will be of utmost importance to you and why?
Consumer satisfaction will lead to improvement in these goodwill and market standing. Employee satisfaction will lead to increase in productivity. These two factors will increase profits in the long run automatically. NCERT SolutionsAccountancyBusiness StudiesIndian Economic DevelopmentCommerce What is a business function that includes all business activities that involve money?A business function that includes all business activities that involve money is finance.
What is the money needed to operate a business called?What Is Startup Capital? Startup capital is the money used to start a business. It covers the expenses necessary for getting a new company up and running, such as: Renting or leasing space.
What are the 4 main business activities?Some fundamental operating activities for a business are sales, customer service, administration and marketing. These activities are part of the normal functioning of a business that affects its monthly, quarterly and annual income and profits.
What are the 3 types of business activities?Understanding Business Activities. There are three main types of business activities: operating, investing, and financing. The cash flows used and created by each of these activities are listed in the cash flow statement.
|