Business Studies, Class XI

Assignment - Chapter – 1

 Nature and Purpose of Business

MM: 30                                                                                                                             

Q1. Name the Auxiliary to trade which removes the hindrance of:-

a)      Time

b)       exchange

c)       knowledge

d)      place

e)      risk                                                                                                                                                           (2)

Q2. What is the base of differentiating the economic and non-economic activity?                               (1)

Q3. Why does a businessman willingly undertake business risk?                                                              (2)

Q4. Name the following

a)      The economic activity having risk element and carried on to earn profit.

b)      The trade in which goods are imported and exported to some other country                       (2)

Q5. Name the type of manufacturing industry in which:

a)      One material is separated into several useful products

b)       Two or more ingredients are combined into one product

c)       Production involves successive stages                                                                                              (3)

Q6. Enumerate any three social responsibilities of business?                                                                    (3)

Q7. What are the three broad classifications of economic activities? Explain all.                                   (4)

Q8. Define Commerce. What are its different activities?                                                                             (4)

Q9. Compare business with profession and employment. (Write any 4 points)                                     (4)

Q10. Explain the concept of business risk and its causes?