CBSE Class 11 - Entrepreneurship Development (Business Studies) Questions and Answers #BStClass11 #smallbusiness #eduvictors

CBSE Class 11 - Entrepreneurship Development (Business Studies)

Questions and Answers

Q1. What is Entrepreneurship Development?

Answer: Entrepreneurship is the process of setting up one's own business as distinct from pursuing any other economic activity, be it employment or practising some profession. It is a process of enhancing entrepreneurial skills and knowledge through structured learning and institution-building programmes.

The person who set up his business is called an entrepreneur. The output of the process, that is, the business unit is called an enterprise.

Richard Cantillon, a French economist defines:

"Entrepreneur is a person who organizes the business, undertakes the risk and enjoys the profit" 

Class 11 Business Studies - Ch1: Nature and Purpose of Business (MCQs-2)(#class11BusinessStudies)(#cbse2021)(#eduvictors)

Class 11 Business Studies - Ch1: Nature and Purpose of Business (MCQs-2)

Q1: Which of the following does NOT characterise business activity? 

(a) Production of goods 

(b) Presence of risk and services

(c) Sale or exchange of goods and services 

(d) Salary or wages

Q2: Which of the broad categories of industries covers oil refinery and sugar mills?

(a) Primary 

(b) Secondary 

(c) Tertiary 

(d) None of them

Q3: Which of the following cannot be classified as an auxiliary to trade? 

(a) Mining 

(b) Insurance

(c) Warehousing 

(d) Transport

CBSE Class 11 - Business Studies - Chapter 3 - Private, Public and Global Enterprises - MCQs (#cbsenotes)(#eduvictors)(#class11BusinessStudies)

Class 11 - Business Studies - Chapter 3 - Private, Public and Global Enterprises - MCQs 

Q1: LIC is the example of 

(a) Departmental undertaking 

(b) Statutory corporation

(c) Govt. Company 

(d) Private company

Q2: A government company is any company in which the paid up capital held by the government is not less than

(a) 49% 

(b) 51%

(c) 50% 

(d) 25%

CBSE Class 11 Business Studies - Chapter 5 - Emerging Modes of Business - Questions and Answers (#eduvictors)(#cbsenotes)(#class11BusinessStudies)

Chapter 5 - Emerging Modes of Business 

Very Short Questions and Answers 

CBSE Class 11 Business Studies

1-Mark Questions 

Q1: Define e-Business.

Answer: e-Business refers to the process of performing Business activities electronically through the means of internet.


Q2: List the three strongest trends that are shaping our future business.

Answer:
(i) digitisation—the conversion of text, sound, images, video, and other content into digital content,
(ii) outsourcing, and,
(iii) inter-nationalisation and globalisation


Q3: What is e-Trading?

Answer: e-Trading involves securities trading, i.e. online buying & selling of shares and other financial instruments.

CBSE Class 11 - Business Studies Unit-I Sample Question Paper (2019-20)(#cbsepapers)(#eduvictors)

CBSE Class 11 - Business Studies
 Unit-I Sample Question Paper
 (2019-20) 

Getting good marks is very important for students of class 11. For this one must practice and attempt sample question papers within time limits.

Here follows a sample question paper on Business Studies subject to assess your knowledge about the subject.

For studying you may refer following help guides:

1. All in One Business Studies Class 11
2. Business Studies (R K Singla) Class 11

CBSE Class 11 - Business Studies - Chapter 4 - Business Services - Types of Communication Services (#class11BusinessStudies)(#eduvictors)(#cbsenotes)

Types of Communication Services

Business Studies - Chapter 4 - Business Services

Communication: 
It is an important service that helps in establishing links between businessmen. The organization, suppliers, customers etc educates people Widen their knowledge and broaden their outlook II overcomes the problem a! distance between people, businessmen and institutions and thus help in the smooth running of trade. industrial and commercial activities. In this fast-moving and competitive world, it is essential to have advanced technology for quick exchange of information with the help electronic media  The amount of information that a communication medium can carry and the extent to which the medium enables the sender and receiver to reach a common understanding.
The main services can be classified as postal and telecom.

Class 11 - Business Studies - Forms Of Business Organisation - Sole-Proprietorship - Study Notes (#class11BusinessStudies)(#eduvictors)(#cbsenotes)

Forms Of Business Organisation -
Sole-Proprietorship

Class 11 - Business Studies - Study Notes

Sole proprietor means a form organization in which there is the only owner at business. He himself manages and is the only receipt of all profits and losses (risks).

Features of Sole-Proprietorship:

① Single ownership:
He is the sole owner of all the assets and resources of the business.

② No separate Legal Entity: 
The Business has no separate existence or entity that of the business. All the assets and liabilities of the business are that of the businessman.

③ No Legal Formalities: 
No Legal Formalities are required to start. manage and dissolve such business organization.

CBSE Class 11 - Business Studies - Chapter 3 - Private, Public and Global Enterprises - Questions and Answers (#cbsenotes)(#eduvictors)

Class 11 - Business Studies

Chapter 3 - Private, Public and Global Enterprises 

Questions and Answers 

Q1: Name the two forms of business organisation in an Indian economy.

Answer:

1. Public Sector
2. Private Sector

Q2: What is the private sector?

Answer: The private sector consists of business owned by individuals or a group of individuals.


Q3: What is the public sector?

Answer: The public quarter consists of various firms owned and controlled through the government. These companies may also both be in part or thoroughly owned by the central or state government.


Q4: What is the main objective of Industrial policy?

Answer: The main objective of any industrial policy is to augment the industrial production and thereby enhance the industrial growth which leads to economic growth by:

• optimum utilization of resources; 
• modernization; 
• balanced industrial development; 
• balanced regional development;
• balanced development of basic and consumer industry; 
• coordinated development of large as well as small, medium and cottage enterprises;
• determination of the area of operation under private and public sector; 
• enhance cordial relations between workers and 
• management and proper utilization of domestic / foreign capital.

CBSE Class 11 - International Business - I - NCERT Solutions (#ncertanswers)(#eduvictors)

International Business - I  

NCERT Solutions

I.Multiple Choice Questions

Question 1. In which of the following modes of entry, does the domestic manufacturer give the right to use intellectual property such as patent and trademark to a manufacturer in a foreign country for a fee.

(a) Licensing
(b) Contract manufacturing
(c) Joint venture
(d) None of these

Answer: (a) Licensing

Question 2. Outsourcing a part of or entire production and concentrating on marketing operations in international business is known as

(a) Licensing
(b) Franchising
(c) Contract manufacturing
(d) Joint venture

Answer: (c) Contract manufacturing

Question 3. When two or more firms come together to create a new business entity that is legally separate and distinct from its parents it is known as

(a) Contract manufacturing
(b) Franchising
(c) Joint ventures
(d) Licensing

Answer: (c) Joint ventures

Question 4. Which of the following is not an advantage of exporting?

(a) Easier way to enter into international markets
(b) Comparatively lower risks
(c) Limited presence in foreign markets
(d) Less investment requirements

Answer: (a) Easier way to enter into international markets

Question 5. Which one of the following modes of entry requires higher level of risks?

(a) Licensing
(b) Franchising
(c) Contract manufacturing
(d) Joint venture

Answer: (c) Contract manufacturing

CBSE Class 11 - Business Studies - Small Business - Meaning and Nature (#cbsenotes)(#eduvictors)

Small Business - Meaning and Nature

Concept Points

1. In India, the ‘village and small industries sector’ consists of both ‘traditional’ and ‘modern’ small industries. This sector has eight subgroups. They are handlooms, handicrafts, coir, sericulture, khadi and village industries, small scale industries and powerlooms. The last two come under the modern small industries, while the others come under traditional industries.


2. The Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 addresses these issues relating to definition, credit, marketing and technology upgradation. Medium scale enterprises and service related enterprises also come under the purview of this Act. The MSMED Act, 2006 came into force w.e.f., October, 2006. Accordingly, enterprises are classified into two major categories viz., manufacturing and services.

CBSE Class 11 – Business Studies – What is Foreign Trade? (#cbseNotes)

Class 11 – Business Studies
What is Foreign Trade?

Q1: What is a foreign trade?

Answer: Foreign trade is a trade between one country with another country. It involves the exchange of goods of one country with other countries. It is generally carried out by large business houses e.g. petroleum products of Gulf countries are sold in India.

CBSE Class 11 - Business Studies - Chapter 4 - Business Services - Insurance Services (#cbseNotes)

Insurance Services

(Chapter Notes)

Q: Define Insurance.

Answer: Life is full of uncertainties and risks. Insurance is a means of providing against loss caused by natural or man-made factors. It is a contract or agreement under which one party agrees in return for a consideration (called premium which maybe monthly , quarterly, half yearly or annually) to pay in agreed amount of money to another party to make good a loss, damage, or injury to something of value.


Q: What are the functions of Insurance?

CBSE Class 11 - Business Studies - Banks and Functions Of Commercial Banks (#cbseNotes)

Banks and Functions Of Commercial Banks

Banks
Banks occupy an important position in the modern business world. No country can make commercial and industrial progress without a well organised banking system. Banks encourage the habit of saving among the public. They mobilise
small savings and chennelise them into productive uses.


Q: How will you define bank?

Answer: A bank is an institution which deals in money and credit. It collects deposits from the public and supplies credit, thereby facilitating exchange. It also performs many other function like credit creation, agency functions, general services etc Hence a Bank is an organisation which accepts deposits, lends money and perform other agency functions.

CBSE Class 11 - Business Studies - Nature and Purpose of Business - Classification Of Commerce (#cbseNotes)

Business Studies - Nature and Purpose of Business - Classification Of Commerce

CBSE Class 11 - Business Studies - Chapter 4 - Business Services - Features Of Service (#cbseNotes)

Business Services - FEATURES OF SERVICES

Business services are essential and indispensable to the smooth flow of trade and industry.

Examples of business services are:

  - Banking
  - Insurance
  - Transport
  - Warehousing
  - Communication

Types Of Services 

1. Social Services: Provided voluntarily to achieve certain goals e.g. health care and education services provided by NGOs.

2. Personal Services: Services which are experienced differently by different customers.
e.g. tourism, restaurants etc.

3. Business Services: Services used by business enterprises for the conduct of their activities.
e.g. Banking, Insurance, communication, warehousing and transportation.

CBSE Class 11 - Business Studies - Forms of Business Organisation (#cbseNotes)

Forms of Business
Organisation - Concept Chart

Buy this chart as a Poster File (30'' x 15'' size)

Q1: Define business enterprise.

Answer: A business enterprise is an institutional arrangement to form any business activity.


Q2: What are the main categories of business enterprises?

Answer:
1. Private Enterprise
2. Public Enterprise
3. Joint Sector Enterprise

CBSE Class 11 - Business Studies - Chapter 1 - Characteristics of Business (#cbseNotes)

Characteristics of Business

A business activity is different from other activities performed in a society. The essential characteristics of business are as follow:

① An economic activity
② Manufacturing or Purchase of Goods and Services
③ Sale or Exchange of Goods and Services
④ Deals in Goods & services on a regular basis
⑤ Aims at Profit Earning
⑥ Element of Risk:
⑦ Uncertainty of Return
⑧ Requires Investment

CBSE Class 11 Business Studies -Syllabus (2017-18) (#cbseNotes)

Business Studies -Syllabus (2017-18)

CBSE Class 11 Business Studies

Here presents the prescribed syllabus for Class 11 Business Studies for the curriculum 2017-18.

Class 11 - Business Studies - Nature and Purpose of Business - Business vs Profession vs Employment

Business vs Profession vs Employment

Important Differences

Sno.	Business	Profession	Employment
1. Definition	It refers to those economic activities which are connected with purchase, production and/or sale of goods and services with an objective of earning profits.	It includes those economic activities that require special knowledge or skills in the occupation.	It refers to the occupation in which people work for others get remuneration in return.
2. Examples	Fishing, Mining, Production and selling of electronic goods	Medical Doctor, Lawer (Legal), Accountant	Worker, Salesman, Employee
3. Mode of Establishment	Starts after completing some legal formalities needed.	Membership of a professional body and certificate/license to practice required.	Start after getting appointment (formal or informal)

CBSE Class 11 - Business Studies - Chapter 1 - Nature and Purpose Of Business (MCQs)

Nature and Purpose Of Business

NCERT Chapter MCQs

1. Which of the following does not characteristic business activity?

(a) Production of goods and services
(b) Presence of risk
(c) Sale or exchange of goods and services
(d) Salary or wages


2. Which of the broad categories of industries covers oil refinery and sugar mills?

(a) Primary
(b) Secondary
(c) Tertiary
(d) None of them



3. Which of the following cannot be classified as an auxiliary to trade?

(a) Mining
(b) Insurance
(c) Warehousing
(d) Transport



4. The occupation in which people work for others and get remunerated in return is known as ________

(a) Business
(b) Employment
(c) Profession
(d) None of them