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

Forms of Business
Organisation - Concept Chart

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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