BUSINESS STUDIES
CLASS XI
MLL (MINIMUM LEARNING LEVEL)
CH 1 NATURE AND PURPOSE OF BUSINESS
Q1. What is Business?
Ans. Buying & Selling of goods & services to earn profit.
Ans. People who engage in activities to earn money.
Q3. Classified human activities ?
Ans . (1) Economic Activities (2) Non Economic activities
Q4. What do you mean Economic Activities?
Ans. Economic activities are concerned with production, exchange and distribution of goods rendering of services to earn money.
Q5.What are the types of Economics Activities?
Ans. (1) Business (2) Profession (3) Employment
Q6. What do you mean by Non economic Economic Activities?
Ans. Non economic activities which are pursued by human beings because of social, psychological and religious sentiment.
Q7. What is profession ?
Ans A person is a specialized occupation which involves rendering of personal services to the clients.
Q8 .What do you understand by commerce?
Ans .It includes trades as well as various services .
Q9. What is Trade ?
Ans.It refers to exchange of goods and services between two or person in monetary terms.
Q10. What is Business Risk?
Ans. Business risk means the possibility of occurrence of some adverse events leading to loss in the business.
Q11 . Mention any two types of business activities.
Ans Industry and commerce
Q12. Mention any two types of auxiliaries to trade.
Insurance , banking, advertising, warehousing, etc.
Q13. A lawyer is associated with which type of economic activity?
Ans Profession
Q14. Give one example of human cause of business risk.
Ans Theft, carelessness, cheating, etc.
Q15. State one example of employment.
Ans Doctor working in hospital for salary.
Q16. Give one example of extractive industry.
Ans Mining.
Q17. What do you mean by teritary industry?
Ans Service industry.
Q18. Explain Entrepot trade.
Ans Buying with the purpose of againg selling to other country.
Q19 . Give one economic objective of business.
Ans Profit making and maximization
CH 2 FORMS OF BUSINESS ORGANIZATION
Q 1 What is the minimum number of persons required to form a co-operative society ?
A 10
Q 2 Name any two types of business organisation.
A Sole proprietorship and joint hindu family business.
Q 3 Name the act which governs the partnership business.
A Indian partnership act 1932.
Q 4 How does the partnership business come into existence?
A Through agreement among partners.
Q 5 What is the nature of liability of an active partner ?
A unlimited.
Q 6 Define partnership deed.
A A document containing the terms and conditions of the partner.
Q 7 Who owns and manages business of Hindu Family Business?
A Members of Hindu Undivided Family.
Q 8 What kind of liability does Karta have ?
A Unlimited.
Q 9 What is the main motive of Co-operative Society ?
A Welfare and mutual help.
Q 10 Who are called the owners of the company?
A Shareholders.
CH 3 PUBLIC PRIVATE GLOBAL ENTERPRISE
Q1. Name that private sector enterprise which operate in many countries.
An. Global enterprises/MNC
Q2. How are MNC managed and controlled
An. By the head office in their won country.
Q3. Give any two name of multinational companies.
An. Coco cola and pepsi.
Q4. What is the full form of BIFR.
An Board of industrial and financial reconstrucgtion
Q5. How much paid up capital is held by the government in govt. company.
An. 51%.
Q6. Give any two example of govt. companies.
An. BHEL end HMT.
Q7.Name that type of public enterprises which is brought into existence by a special act of the parlkiament.
An. Statuary corporation.
Q8. Give any two example of departmental under taking.
An. Railway and defence.
Q9. Name the oldest and the most traditional for of public sector enterprise.
An. Departmental under taking.
Q10. What type of economy does India have?
An. Mixed economy.
_________________________________________________________
CH 4 BUSINESS SERVICES
Q 1. Give 2 functions of e-banking. 1
Ans. (i) ATM (Automatic Teller Machine)
(ii) EFT ( Electronic fund transfer)
Q 2. To which insurance principle of indemnity is not applicable? 1
Ans. In Life insurance
Q 3. “The cause for loss must be related to the purpose of insurance.”
Which principle of insurance is related to this statement? 1
Ans. Principle of causa Proxima.
Q 4. What Hull insurance? 1
Ans. Hull insurance is an insurance policy for indemnifying the
insured for loses caused by damaged to the ship.
Q. 5 The insured should not be allowed to make any profit by selling
Damaged property being recovered. which principle of insurance
is associated with this?
Ans. Principle of Subrogation
Q. 6 What is e-banking? What are the advantages of e-banking. 3
Ans. E- stands ‘electronic’. Use of computer and internet in banking
is called e- banking.with the help of computerized banking ,banks
offer some electronic services which are:
(i) EFT ( Electronic fund transfer)
(ii) ATM (Automatic Teller Machine)
(iii) Debit Card
(iv) Credit Card
Q.7 What are services ? Explain their distinct characteristics.5
Ans. Services includes commercial firms engaged in banking, communication, transport, insurance, warehousing etc.
Characteristics of services:-
(i) Intangible
(ii) Lack of Homogeneity or inconsistency
(iii) Inventory(loss)
(iv) Non-transferability or Inseparability
(v) Customer’s participation
Q. 8 Explain the functions of commercial banks . 5
Ans. Functions of commercial banks :-
(a) Collection of deposits
(b) Granting Loan
(c) Collection of cheques and bills
(d) Agency function
(e) Issue of letter of credit
Q. 9 Write a note on various facilities offered by Indian
postal department. 5
Ans. Services offered by Post office-
(a) UPC
(b) Registered post
(c) Parcel post
(d) Speed post
(e) Courier services
(f) Other services
_____________________________________
Ch 5 EMERGING MODES OF BUSINESS
1. What is e-business.
Ans: business activities performed electronically with the help of computer and internet are known as e-business.
2. Give name of online business sites.
Ans: Ebay, Snapdeal
3. What is the full form of ATM.
Ans: Automated Teller Machine.
4. What is full form of BPO
Ans: Business Process outsourcing.
5. What is full form of KPO.
Ans: Knowledge Process Outsoursing.
6. What is outsourcing.
Ans: getting non-core work done from outside agency is known as outsourcing.
7. Give one benefit of e-business.
Ans: Convinient as 24x7x365.
8. Name one outsourced service in your school.
Ans: security service, cleaning service.
9. What does “e” stands for in e-business.
Ans: Electronic
10. What is B2B in e-business.
Ans: Business to Business
____________________________________________________
CH 6 SOCIAL RESPONSIBILITY OF BUSINESS AND BUSINESS ETHICS
Q 1 State one case for social responsibility of business.
A Justification for existence and growth of business.
Q 2 Define one social responsibility towards workers.
A Good working condition.
Q 3 State one responsibility of business towards consumers.
A Provide full information about the product.
Q 4 State one responsibility of business towards government.
A Timely payment of tax.
Q 5 What is pollution?
A Injection of harmful substances into the environment is called pollution.
Q 6 list any one cause of pollution.
A Air pollution,water pollution.
Q 7 What is land pollution?
A Land pollution is caused by dumping of toxic waste on land.
Q 8 Define business environment.
A It can be defined as socially determined moral principles which govern business activities.
Q 9 Give one example of business environment.
A Following fair trade practices.
Q 10 State one element of business environment.
A Establishment of compliance mechanism.
CH 7 SOURCES OF FINANCE
Q1. What are preference shares?
Ans Holder will get preference in dividend and repayment over equity shareholder.
Q2. What is trade credit?
Ans Selling and buying of goods on credit.
Q3. Define retained Earnings?
Ans Reserves and undistributed profits.
Q4. Give one example of owner funds.
Ans Equity share
Q5. What do you mean by debentures?
Ans Debenture is an acknowledgement of debt. It represents the borrowed funds of the company.
Q6. Give one example of borrowed fund.
Ans Debenture, loans.
Q7. Give one limitation of equity shares.
Ans It is permanent capital
CH 8 SMALL BUSINESS
Q. 1 Give full form of SSI? 1
Ans. Small scale industry.
Q. 2 Give full form of NSIC. 1
Ans. National small industries Corporation.
Q. 3 Name any 2 institutions specially set up to promote small
Scale enterprises. 1
Ans. (i) NSIC (National small industries Corporation.)
(II) DIC (District Industrial Centre)
Q. 4 Name any 2 units include in SSI category. 1
Ans. (i) Ancillary units
(ii) Tiny units
Q. 5 Give any 2 characteristics of SSI. 1\
Ans. (i) Personal touch
(ii) Dominance of labour
Q. 6 . How would you differentiate between an ancillary
unit and tiny unit? 3
Ans. In ancillary unit the investment in plant and machinery
is up to 1 core and supplies 50% of its production to the
parent unit.
In tiny unit the investment in plant and machinery is
up to 25 laths.
Q. 7 . Explain any 3 incentives offered by got to small scale
enterprise so that they can contribute in the
development of over populated country like India. 5
Ans. Protective measures
Ø Credit and finance
Ø Marketing assistance
Ø Incentives
Ø Institutional support
Q.8 .What is MSMED Act 2006?
Ans. Micro small and medium enterprises development act
9. What is the limit of ancillary small industrial unit?
Ans. 1 crore.
10. SSI Contribute to Gross Industrial Value Added of India about …………………..%.
Ans.: 40%.
Ch 9 INTERNAL TRADE
Q1. Give the full form of E&OE.
Ans. Errors & omission excepted.
Q2. Give the meaning of COD.
Ans. Cash on delivery
Q3. What is retail trade?
Ans. Buying & selling of goods in small quantities to make profits
Q4. Give 2 examples of departmental store.
Ans. Big bazaar, Vishal mega mart
Q5. What is a multiple store?
Ans. A type of retailing business providing same products at same prices across its different branches.
Q6. Give one example of AVM.
Ans. ATMs
Q7. Who is a wholesaler?
Ans. One who buys in bulk from producers and sells in smaller quantities to retailers.
Q8. Who is a retailer?
Ans. One who buys in small quantities from wholesalers & sells to the ultimate consumers.
Q9. Name any two middlemen who provide goods from the producers to ultimate consumers.
Ans. Wholesalers & Retailers.
Q10. What do you mean by internal trade?
Ans. Trade carried out within the boundaries of the country
UNIT 10 INTERNATIONAL BUSINESS
Q1. What is entreport trade?
Ans. Importing goods from one country so as to export to another country.
Q2. What is international business?
Ans. Business beyond the geographical boundaries of the country.
Q3. Differentiate between domestic business & international business on the basis of scope?
Ans. Scope of former is narrow whereas that of the latter it is wider.
Q4. When did WTO come into existence?
Ans. 1.1.1995
Q5. What is import trade?
Ans. Buying goods from other countries of the world.
Q6. What is export trade?
Ans. Selling goods to the other countries of the world.
Q7. What is proforma invoice?
Ans. A document used by the importer making enquiries about the goods to be exported from the exporter.
Q8. What is bill of lading?
Ans. A document issued by the shipping company to the exporter as a proof of the shipment of the goods on the ship.
Q9. Name any 2 documents used in export trade.
Ans. Letter of credit, bill of lading
Q10. Give any one difference between import trade & export trade?
Ans. Buying from other countries & export means selling to other countries.
Q 11. What is ‘Letter of credit’?
Ans It is a document sent by the importer’s bank to the exporter as a guarantee for the payment of goods purchased by him.
Q 12. What is ‘Certificate of origin’?
Ans This is a certificate which shows the place of origin of the goods being exported.
Q 13. What is ‘Bill of exchange’?
Ans It is a negotiable instrument in writing containing an unconditional order to the drawee (buyer) to pay certain sum sum of money after a certain period of time to the drawer
Q14. Define International Trade.
Ans It is the trade across the boundaries of different nations.
Q15. Write the full form of the terms FOB and CIF.
Ans FOB : Free on Board
CIF : Cost ,Insurance ,Freight
_____________________________________________________
No comments:
Post a Comment