case study based questions of business studies class 11

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The glorious education, case studies of bst class 11 ch - 1 nature and purpose of business, class -11 business studies , chapter - 1 nature and purpose of business, case study and value-based questions with answers .

  Q1. Mr. Bhuvan is a Chartered Accountant in a Multinational Company. He gets rs 85,000 per month as his salary. On weekends, Mr. Bhuvan goes to nearby village and teaches some slum children, he does not charge anything from them, he does it out of sympathy and children. This gives him mental and psychological satisfaction. concern for poor.

(a) Working as CA in a MNC refers to which type of human activity. (b) Teaching students in slum is which type of human activity. (c) Identify the values followed by Bhuvan.

Ans. (a) Economic

(b) Non-Economic

(c) (i) Value of love and care.

  (ii) Value of helping poor.

Q. 2. Rajiv wants to start a whole sale business of readymade garments, but he is hesitating as it involves various problems such as customers for moving goods from place of production to market, informing customers about new designs and varieties added every season, threat of risk loss by fire or accident, storing the excess stock of goods, etc. He approaches his friend Sandeep who explained him about some branches of commerce, which can help Rajiv to overcome his hesitation.

(a) State the type of business Rajiv is planning to start.

(b) State which dimension of business can help Rajiv to overcome these hindrances. (c) Specify different types of Auxiliaries to trade which can help Rajiv to overcome his problems. Quote the line for each type from above Para.

  Ans. (a) Trade - Whole sale Trade.

  (b) Commerce

  (c) (i) "Searching for Customer" – Trade (ii) "Moving goods"

(iii) "Informing customers"

  (iv) "Threat of Risk" Transportation -                     Advertisement Insurance -

  Q. 3. Indu bought a readymade dress for ₹ 5000. Her friend liked the design of dress very much, so Indu sold the same dress to her friend for 5500 and made a profit of 500. After completing her studies Indu opened a shop of selling readymade dresses for girls.

(a) Can transaction between Indu and her friend be termed as business?

(b)State the features related to 'a'.

  (c) Can the sale of dresses on her shop be called as business?

  Ans.(a) No.

(b) "Regular Basis".

  (c) Yes, as it is done on Regular Basis.

Q. 4. Name the following:

(a) The economic activity showing a risk element and carried on profit.

(b) The trade in which two countries are involved.

(c) The trade in which goods are imported from one country for the purpose of exporting to other country.

(d) The industry which involves breeding and reproduction of plants and animals.

(e) The branch of commerce which remove hindrance of place.

Ans. (a) Business

  (b) External Trade

(c) Entrepot

(d) Genetic Industry

(e) Transportation.

Q. 5. An organisation planned to use CFL and LED which consume less electricity to reduce operational cost. They also give preference to labour intensive technique of production. What values company is implementing?

Ans.1. Value of saving electricity.

2. Value of creating employment opportunities.

3. Value of reduction in cost.

Q. 6. An organisation arranges recreational activities for its employees to refresh them and also send them for training to update their knowledge. What values are followed by the company? .

Ans. 1. Value of meeting personal objectives.

2. Value of motivating employees.

3. Values of giving job satisfaction to employees.

Q. 7. A Chartered Accountant advised his elient how to convert black money into white money and he also guided him how to save income tax by hiding his income. Is his act justified.

Ans. No conduct of CA and businessmen are not justified:

(a) CA is violating his code of conduct by acting unethically.

(b) Cheating government by paying less income.

(c) Acting dishonestly.

(d) The act is not even unethical but illegal also.

Q. 8. A Tool and Equipment Manufacturing Company gave bribe to purchase manager of a factory to buy tools of low quality and which are not having safety norms. The purchase manager accepted the offer and gave a big order. What values are violated?

Ans. 1. Value of playing with the health of workers.

  2. Not fulfilling safety norms competition. 3. Offering bribe is an unlawful act.

  Q.9. A unit set up by Tata in rural area and the company plan to develop roads, parks of that area they also started a school for local children of that area. What values are followed?

Ans. 1. Fulfilling social objectives.

2. Increasing literacy rate.

3. Improving standard of living.

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CBSE Sample Papers for Class 11 Business Studies with Solutions 2023-2024

Solved CBSE Sample Paper Class 11 Business Studies 2023-2024 with Solutions: Solving Pre Board CBSE Sample Papers for Class 11 Business Studies with Solutions Answers 2023-2024 Pdf Download helps to understand the pattern of questions asked in the board exam. Know about the important concepts to be prepared for CBSE Class 11 Business Studies board exam and Score More marks. Here we have given CBSE Class 11 Business Studies Sample Papers 2023.

Board  – Central Board of Secondary Education (CBSE) Subject – CBSE Class 11 Business Studies Year of Examination – 2023-2024

CBSE Sample Paper Class 11 Business Studies 2023-2024 with Solutions

According to the new CBSE Exam Pattern, MCQ Questions for Class 11 Business Studies also carry marks in the board exam. Click on the link below to access the CBSE Class 11 Business Studies Sample Paper 2023 Solved.

CBSE Class 11 Business Studies Sample Papers 2023 with Solutions

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Important Questions for CBSE Class 11 Business Studies Chapter 5 - Emerging Modes of Business

• Class 11 Important Question
• Business Studies
• Chapter 5: Emerging Modes Of Business

CBSE Class 11 Business Studies Chapter 5 Important Questions - Free PDF Download

Important Questions for CBSE Class 11 Business Studies Chapter 5 - Emerging Modes of Business is given in this article in the form of a free pdf. 

Emerging Modes of Business studied in CBSE Class 11 Business Studies is another vital chapter that must be studied intently. We have prepared all the important questions and answers from this chapter and presented them to you in the form of a free pdf. 

These free-to-download pdf notes are prepared by expert Business Studies teachers from the latest edition of CBSE(NCERT) books. So study reliably. 

Additionally, you can register for Online tuition on Vedantu.com to score more marks in the CBSE examination.

CBSE Class 11 Business Studies Chapter 5 ‘Emerging Modes of Business’ - Topics Covered 

Following are the topics that are covered in CBSE Class 11 Business Studies Chapter 5 - Emerging Modes of Business:

Emerging Modes of Business

Features of e-Business 

Benefits of e-Business

Limitation of e-Business

Successful e-Business Implementation

Online Transactions 

Payment Mechanism

What is e-Commerce?

Types of e-Commerce Business

Difference between Traditional and e-Business 

Outsourcing 

Advantages of Outsourcing 

Disadvantages of Outsourcing 

Business Process Outsourcing

Knowledge Process Outsourcing 

Important Questions and Answers

Study Important Questions for Class 11 Business Studies Chapter 5 – Emerging Modes of Business

Very short answer questions (1 or 2 marks).

1. What does 'e' stand for in e-business?

Ans: 'E' stands for electronic in e-business. E-Business is described as the use of computer networks to conduct business, trade, and commerce. E-business is a more comprehensive phrase that encompasses a wide range of electronic business transactions and services, including the well-known e-commerce transactions.

2. What is "e' commerce?

Ans: E-commerce refers to a company's online interactions with its customers and suppliers. Other electronically conducted company tasks such as production, inventory management, product development, accounting, finance, and human resource management are included in e-business.

E-commerce (electronic commerce) refers to the purchasing and selling of goods and services, as well as the transmission of payments and data, over an electronic network, most commonly the internet. Business-to-business (B2B), business-to-consumer (B2C), consumer-to-consumer, and consumer-to-business transactions are all a part of e-commerce. Examples of E-commerce are Amazon, Flipkart etc.

E-business is a more comprehensive phrase that encompasses a wide range of electronic business transactions and services, including 'e-commerce' operations. 

3. Jyoti wanted to sell her mobile phone but did not get any buyer. On her friend's suggestion she posted the mobile on sale on wwrw.olx.com and found a buyer within two days. Name the type of e-business.

Ans: It is a form of C2C commerce. Consumers are the source of the business, and consumers are the ultimate destination. This form of business is best for dealing with items for which no recognized market mechanism exists. 

For example eBay, Quikr, etc where consumers sell their goods and services to other consumers are a form of C2C. The payment intermediary is another technology that has arisen to facilitate C2C activity.

4. What is outsourcing?

Ans: It refers to a long-term contracting out of non-essential but core activities to captive or third-party specialists in order to benefit from their knowledge, competence, efficiency, and, in some cases investment. 

5. Ram stays in a hostel in the USA and his parents stay in Mumbai. Ram's birthday is in five days and his parents wish to give him a pair of branded shoes. How can they give gifts?

Ans: They can use E-commerce for this situation. Companies like Amazon, Flipkart are examples of B2C type of E-commerce. 

In the above case, Ram’s parents can order the shoes for him, and in the address column, they can fill in the details of Ram’s USA address. For payment, Ecommerce sites provide various payment options such as online payment, cash on delivery etc. So in this case, as the shoes are a gift from Ram’s parents to him, they can make the online payment, and add Ram’s address in the address column. E-commerce websites provide diverse varieties of goods, and ordering from them is much faster, convenient and easier as against traditional methods of buying. 

Though his parents could also courier the gift, but due to time limitations, practicing this option is not possible.

6. What do you mean by Intra-B Commerce?

Ans: Intra-B Commerce refers to the type of e-commerce, where parties involved in the electronic transactions are from within a given business firm. It is partly owing to the usage of intra-B commerce that today's businesses are able to engage in flexible manufacturing. The use of computer networks allows the marketing department to communicate with the production department on a continuous basis, allowing for the creation of personalized products according to the needs of each unique customer. 

For example Virtual Private Network (VPN) technology would mean that employees do not have to come to the office. Instead, the office comes to them, and they can work from anywhere they want, at their own pace and on their own schedule. Tweetings can be held online via tele/ video conferencing

7. State an important feature of outsourcing?

Ans: The important feature is outsourcing of interchangeable or fungible Activities, that is the activities which are undifferentiated can be outsourced but unique and distinct activities can't be outsourced to a third party.

8. Briefly state the scope of e-business on the basis of business function?

Ans: E-business has a wide scope. 

Scope on the basis of business Function:

In this, the scope includes the electronic execution of the following activities, but is not only limited to:

Management Functions such as 

Planning, 

Organizing, 

Staffing, 

Controlling

Production,

Marketing and Sales,

Inventory Management, 

Product Development, 

Human Resource Management, 

Accounting And Finance,

Procurement,

Research And Development,

Customer Relationship Management,

Business Intelligence.

Information System

Training And Development

9. Briefly state the scope of e-business on the basis of parties involved in electronic transactions?

Ans: The scope of business on the basis of parties involved can be bifurcated in three aspects:

B2B (Business-to-Business): In this the transactions are conducted between two businesses, 

B2C (Business-to-Customers): In this, the interaction of transactions takes place between the business and its customers. For example, Amazon.

Intra-B: In this the interaction of transactions are within  a firm's internal processes.

Short Answer Questions (3 or 4 Marks)

10. Distinguish between e-commerce and e-business.

Ans: The Differences between E-business and E-commerce are:

11. What do you mean by -

(i) B2B Commerce 

Ans: B2B Commerce

In this, both parties involved in e-commerce transactions are businesses, hence the term B2B (business-to-business) was coined.

A business must engage with a number of other businesses in order to create utility or deliver value. These businesses may be suppliers or vendors of various inputs, or they may be part of the distribution channel through which a company distributes its items to clients.

For example turtle.com

(ii) B2C Commerce

Ans: B2C Commerce

Commercial-to-customer (B2C) interactions involve business organizations on one hand and their customers on the other.

It encompasses a wide range of internet marketing operations such as identifying activities, promoting them, and occasionally even delivering items.

It enables a business to be in touch with its customers on a round-the-clock basis which helps in knowing the customer satisfaction level.

For example Amazon, Nykaa etc.

(iii) Intra-B Commerce

Ans: Intra-B Commerce

The parties participating in electronic transactions are all from the same company.

Today's businesses are able to engage in flexible manufacturing in great part due to the use of intra-B commerce. The use of computer networks allows the marketing department to communicate with the production department on a continuous basis, allowing for the creation of personalized products according to the needs of each unique customer.

For example customized manufacture of mobiles and laptops requires interactions of varied departments of a firm. 

 (iv) C2C Commerce

Ans: C2C Commerce

The consumer is the source of the business, and consumers are the ultimate destination.

This form of business is best for dealing with items for which no recognized market mechanism exists.

For example ebay, Etsy etc.

12. Explain briefly points in opposition with outsourcing?

Explain any four limitations of electronic mode of doing business. Are these limitations severe enough to restrict its scope? Give reasons for your answer.

Ans:   The limitations of outsourcing are given below:

Confidentiality:

Outsourcing necessitates the exchange of a great deal of critical information and knowledge.

It can harm the interest of the party that outsourcers its processes and even has a risk of competitive firms getting started.

Sweat Shopping:

in order to save money the outsourcing companies seek help of low cost, low quality manpower in order to reap the maximum benefits. 

Hence instead of developing thinking skills to perform a work on its own, the firm prefers the doing skills, that is making the other firm do the task for them.

Ethical Concerns:

In order to cut the cost of outsourcing the work to some other country where the work is done in an unethical way.

For example work is accomplished by doing child labor.

Resentment in the Home Countries:

Employment or jobs are ultimately contracted out when manufacturing, marketing, research and development, or IT-based services are contracted out.

This may cause resentment back in the home country if the home country suffers from the problem of unemployment.

13. State three benefits of e-business?

Ans: The three benefits of e-business are as follows:

No geographical boundaries: Anyone, from anywhere, can order anything at any time. On the one hand, it allows the seller access to the global market, while on the other hand, it gives the buyer the option to select products from virtually any area of the globe.

Flexible Business Hours: Because the internet is constantly available, you may set your own business hours. The time limitations that location-based firms face are broken down by e-business.

Speed And Efficiency: Online ordering systems can process payments and orders in real-time, usually faster, more accurately and cheaper than human workers.

14. State three limitations of e-business?

Ans: The three limitations of e-business are:

Online Security Concerns: Many scammers prey on those who conduct business online. Additionally, hackers have an easier time obtaining someone’s financial information. It has a few concerns with security and integrity. This creates skepticism among potential clients.

Product Delivery Time: Product delivery takes time. This lag time often discourages customers. Though efforts are made by the companies to lessen the delivery time. For example, Amazon now assures one-day delivery.

Lack of Personal Touch: As a person cannot touch or feel the product, there are always doubts regarding the quality, size, design, etc. Hence, the sense of humanity and trustworthiness is absent from an e-business paradigm.

15. In detail explain the features of outsourcing?

Ans: Features of Outsourcing are:

Interchangeable Activities: Common or undifferentiated activities can be outsourced whereas unique and distinct activities cannot be outsourced as it needs personal efforts and touch of the management.

Explicit, formal, and codifiable knowledge is required: Although an IT programmer's job can be outsourced, a CEO's position requires management, technical, and human relations skills.

Measurable Activity: You can't outsource something you can't quantify.

Activity is not interconnected to other jobs: A fungible, specialized, and measurable job may not be outsourced if it is linked to other key operations within the company.

Long Answer Questions (5 or 6 marks)

16. Elaborate the steps involved in online trading.

Ans: The process of online trading is explained below:

Step 1 - Registration:  

When you register with an online retailer, you create an 'account.'

A "password" must be entered among the numerous details since the areas relating to one’s "account" and "shopping basket" are password protected.

Step 2 - Placing an order: 

You can add products to the shopping cart by dragging and dropping them.

A shopping cart is an online record of what one has added to his cart while visiting an online store. 

Once you've decided what you want to buy, you may 'checkout.'

Step 3 - Payment Mechanism:

Online purchases can be made in a variety of ways.

Cash-on Delivery: Payment for the goods ordered online may be made in cash at the time of physical delivery of goods.

Cheque: The online vendor may arrange for the customer's cheque to be picked up. The delivery of products may be undertaken after realization of the amount paid. 

Net-Banking Transfer: The funds can be transferred electronically through facilities such as NEFT, RTGS etc.

Credit or Debit Cards: Credit cards allow its holder to make purchases on credit. The amount owed by the cardholder to the online seller is assumed by the card-issuing bank, which then transfers the transaction's amount to the seller's credit. A debit card permits the holder to make purchases up to the amount of money in the linked account. The moment a transaction is made, the amount due as payment is deducted electronically from the card.

Digital Cash: This type of currency has no physical qualities, but it allows you to utilize real money in an electronic format, such as through e-wallets or PayTm.

17. Explain Nature and the need for outsourcing services.

Ans: The nature of outsourcing is:

Activities that are interchangeable or fungible: They can be outsourced, whereas activities that are unique cannot be outsourced.

Activity is not interconnected to other jobs: If a fungible, specialized, and measurable position is linked to other key operations within the organization, it cannot be outsourced. 

Need for outsourcing:

Delimiting the Scope of Business:

Business firms are realizing the usefulness of focusing on just a few areas where they have distinct capabilities or core competence, and contracting out the rest of the activities to their outsourcing partners.

Delimiting  the scope of business enables them to focus their attention and resources on select activities for better efficiency and effectiveness.

Quest of Excellence:

In two ways, outsourcing allows the company to strive for excellence. One, due to their narrow focus, individuals excel in the activities that they can do best.

They also succeed by increasing their capabilities by outsourcing out the remaining tasks to people who excel at them.

Cost Reduction:

Division of labour and specialisation improve quality while also lowering costs.

This occurs when outsourcing partners benefit from economies of scale by providing the same service to multiple organisations.

Cost reduction is also aided by differences in the prices of various production inputs across countries.

Growth through Alliance:

To the extent one can avail of the services of the others, the investment requirements are reduced.

As a result, a company can grow quickly because the same quantity of investible funds creates a big number of firms.

Inter-organizational information sharing and collaborative learning are facilitated by outsourcing.

Economic Development:

Outsourcing, more offshore outsourcing stimulates entrepreneurship, employment and exports in the host counties (i.e., the countries from where outsourcing is done).

Why are e-business and outsourcing referred to as the emerging modes of business? Discuss the factors responsible for the growing importance of these trends?

Ans: E-business and outsourcing have changed the way businesses were done traditionally, these are growing each day, and have a great future ahead as well. E-businesses and outsourcing are innovative concepts which have raised the value of the businesses, facilitated more convenience, and added more efficiency in business activities such as procurement, production, marketing etc. This is why they are called as emerging modes of businesses:

The factors responsible for the growing importance of outsourcing and e business:

They assist in making high-quality products more affordable: The demand for high-quality, custom-made products has risen, and e-commerce and outsourcing are playing an increasingly important role in supplying consumers with what they want at a fair price. E-business and outsourcing assist in achieving the goal of excellence by enabling the manufacture and supply of high-quality products.

Facilitate innovation and technology development: Every firm needs to innovate and develop new ideas and products in order to stay competitive. E-business and outsourcing have emerged as a boon for producers in this setting, as they allow for the ongoing development of company strategies and new technology.

They accelerate the business process: As customer demands expand, it has become important to facilitate trade from anywhere and at any time. E-commerce and outsourcing help to speed up the purchasing and selling procedure around the clock.

They lay the path for efficient after-sales support: It is critical for any firm to cater to its clients' demands. Customers benefit from e-commerce and outsourcing because they can get rapid and effective post-sale services.

18. Www.oLX.in, www.quicker.com etc are examples of websites used to conduct business. Dipti's sofa set got spoiled in the rain. Her friend suggested that she should change the fabric so that it looks new and put it for sale on www.olx.com Dipti followed her friend's advice and got her sofa repaired so that it looks better and uploaded nicely clicked pictures on www.olx.com in without disclosing the fact that it was damaged from inside. She found a customer and sold it for Rs.9,000. After one week the buyer found the real state of the sofa set and called Dipti but she did not answer any of the calls.

(i) Name the type of business in the above case.

Ans: C2C business. 

(ii) Which values did Dipti ignore while selling her sofa set?

Ans: Dipti gave false information about the product. Due to a lack of personal touch, one cannot feel the product before buying. Hence values of honesty and transparency was ignored by Dipti.

(iii) Explain two advantages and disadvantages of e-commerce

Ans:  The advantages and disadvantages are:

Advantages of E-Commerce

No Geographical Boundaries: Anyone, at any moment, can order anything from anywhere. On the one hand, it provides access to the worldwide market for the seller, while on the other side, it allows the buyer to select products from nearly any area of the globe.

Workable Business Hours: Since the internet is always available. E-business eliminates the time constraints that local enterprises face.

Disadvantages of e-commerce

Online Security Concerns: There are many scammers who prey on those who conduct business online. Additionally, hackers have an easier time obtaining a person’s financial information. It has a few concerns with security and integrity. This instills skepticism in the minds of certain potential clients.

Product delivery time: Product delivery takes time. This lag time often discourages customers. On the other hand, businesses are attempting to address these difficulties by offering extremely short delivery times. 

19. Explain briefly the benefits of e-business.

Ans: The benefits of e-business are:

Easy to Set Up: We can set up an online business even by sitting at home if we have the required software, a device, and the internet.

Cheaper than Traditional Business: It is less expensive to start an e-company than it is to start a traditional firm. Furthermore, transaction expenses are significantly reduced.

There are no Geographical Limitations: Anyone can order anything from anywhere at any time. On the one hand, it provides access to the worldwide market for the seller, while on the other side, it allows the buyer to select products from nearly any area of the globe.

Speed and Efficiency: Online ordering systems can process payments and orders in real-time, usually faster, more accurately, and cheaper than human workers.

Transition to a Paperless Society: The internet has significantly reduced reliance on paperwork. Administrative reforms aimed at speeding up the process of giving permissions, approvals, and licenses are being implemented using e-commerce platforms.

20. Difference Between e-Business and Traditional Business.

Ans: The differences Between e-Business and Traditional Business:

21. Explain risks involved in e-business in detail?

Ans: There are various types of risks involved in e-business:

Transaction Risks:

Either the seller or the buyer refuses to have taken or placed the order. This is also known as 'default on order taking/giving.'

It is possible that the planned delivery does not occur, that items are delivered to the incorrect address, or that goods other than those requested are delivered. This could be referred to as "default on delivery."

The seller does not get payment for the items provided, despite the fact that the consumer states that payment was made. This may be referred to as 'default on payment'.

As a result, in e-business, the seller or the buyer may be exposed to risk as a result of order taking/giving failure. 

Data Storage and Transmission Risks:

Data in the systems and on the way is vulnerable to a variety of threats. For nefarious motives or simply for fun/adventure, important data may be stolen or manipulated.

Antivirus software  installed and updated on a regular basis, scans files and discs, and proves helpful in protecting data files, folders, and systems against virus attacks.

During transmission, data could be intercepted. For this, one may use cryptography. Data in the systems and on the way is vulnerable to a variety of threats. 

For nefarious motives or simply for fun/adventure, important data may be stolen or manipulated. The communication can only be deciphered (or decrypted) into 'plaintext' by those who have a secret key.

Risks of Threats to Intellectual Property and Privacy Include:

Once the material is available on the internet, it is no longer considered private. It got more difficult to protect it from being copied after that.

Data provided during online transactions may be shared with others, who may begin flooding one’s inbox with advertising and promotional materials.

Important Questions for CBSE Class 11 Business Studies Chapter 5 ‘Emerging Modes of Business’ - Benefits of the Important Questions and Answers

Emerging Modes of Business is the 5th chapter in CBSE Class 11 Business Studies subject. This chapter is very crucial from the CBSE Class 11 examination point of view as well from knowing the real commerce world point of view, thus we have prepared a series of selective important questions and answers from this particular chapter, but how will it be useful for the CBSE Class 11 students? Check the following to know:

The important questions and answers are prepared by our expert teachers here at Vedantu, thus these questions are prepared after a thorough knowledge of the exam pattern and vitality of the concepts, the students can thus totally rely on these important questions and answers in order to prepare for their exam effectively. 

Important questions and answers will help the students to know the important concepts thoroughly without even referring to their main study book, thus these pdf notes provide extra leverage of knowing only the important crux of the content. 

The Chapter - Emerging Modes of Business in business studies consists of many important concepts, thus the students can get those notes in one pdf only this will ensure total knowledge of the important concepts of the chapter where nothing will be missed out. 

These notes can also be studied before the CBSE Class 11 Business Studies exam in order to revise the important topics of the chapter only, this will help the students to revise faster and in an efficient manner. 

CBSE Class 11 Business Studies Chapter 5 Emerging Modes of Business - Extra Questions (Solved) for Practice

In this section, we will be providing you with some extra questions which will further help you in practice before your Business Studies exam.

1. What is B2E Commerce?

Ans. B2E Commerce means ‘Business to Employee’ where businesses reach out to all the potential and best employees who will upgrade their business to higher levels. 

2. List down the common applications of E-Commerce.

Ans. The common applications of E-Commerce are as follows:

Retail and Wholesale

Online Marketing

Manufacturing

Online Booking

Online Publishing

Digital Advertising

How to Study Business Studies? Tips to Study Better

Study the context of the chapter well. 

Practice with HOTS types of questions and answers (High Order Thinking Skills).

Know the main crux of the chapter. 

Study the objectives, benefits, and disadvantages of the topics well. 

Study the previous year’s question papers.

Study from reliable notes like CBSE Class 11 Business Studies Revision Notes . 

With the help of these important questions and answers from CBSE Class, 11 Business Studies Chapter 5 - Emerging Modes of Business will help the CBSE Class 11 students to prepare for their exam in a full-fledged manner. 

Students are advised to download the free-to-download pdf and enjoy free learning from this content. Also, they are suggested to take note of suggested tips to study business studies better. 

FAQs on Important Questions for CBSE Class 11 Business Studies Chapter 5 - Emerging Modes of Business

1. What are emerging business models?

Emerging modes of business refer to new ways of doing business, such as e-business and outsourcing. Business is a type of activity that aims to create utility or value in the form of goods and services that consumers and businesses acquire to fulfil their needs and desires. Each mode has its own set of benefits and features. We must study each of them in great detail to get a better understanding of how businesses function in today’s world.

2. What are e-business and its benefits Class 11?

An e-business strategy attempts to reduce operational expenses while increasing productivity and improving the bottom line by connecting internally and externally through the internet, intranet, or extranet. It allows greater customer responsiveness, transparent company communication, and enhanced vendor connections. Electronic commerce can be conducted using either online storefronts or marketplaces. It is possible to purchase and sell products and services online through the use of a marketplace website. Among the most popular online markets are Amazon, eBay and so on. For revision notes and thorough explanations, visit Vedantu.

3. What do you mean by e-commerce?

E-commerce (electronic commerce) refers to the process of purchase and sale of goods and services, as well as the transaction and the transmission of cash and data, through an electronic network, most often the internet. Some major examples are Business-to-business (B2B), business-to-consumer (B2C), and consumer-to-business transactions, and so on, which are very popular these days. E-commerce is one of the major sectors of business that is emerging at a very rapid pace these days.

4. How can I download the PDF file for the Solutions of NCERT Class 11 Business Studies Chapter 5?

The solutions are easily available on the Vedantu site. 

Visit the page Important Questions for CBSE Class 11 Business Studies Chapter 5.

The webpage with Vedantu’s solutions for Class 11 Business Studies Chapter 5 will open.

To download this, click on the Download PDF button and you can view the solutions offline. 

All other types of problems and solutions with their plausible explanations are also provided on the Vedantu website and on the Vedantu app at free of cost.

5. Why is Outsourcing called the emerging model of business?

Outsourcing is a new way of doing business. It's quickly becoming a popular business model. Companies are progressively outsourcing one or more of their processes that can be carried out more efficiently and effectively by others. It allows an organization to focus on its core tasks while outsourcing less critical duties to specialized firms. Company self-sufficiency is no longer the norm. Normal company tasks are outsourced, but in recent years even some essential functions have been outsourced.

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Business Studies Class 11 Important Questions with Answers Chapter Wise BST

February 17, 2021 by Veerendra

CBSE Class 11 Business Studies Chapter Wise Important Questions and Answers 2020: Here we are providing CBSE Important Extra Questions for Class 11 Business Studies Chapter Wise Pdf download of Part 1 Foundations of Business and Part 2 Corporate Organisation, Finance and Trade in Hindi and English Medium. Students can get Business Studies Class 11 NCERT Solutions , Business Studies Class 11 Important Extra Questions and Answers designed by subject expert teachers.

CBSE Class 11 Business Studies Important Extra Questions and Answers Chapter Wise Pdf

Business Studies BST Class 11 Important Questions with Answers Chapter Wise Pdf Part 1 Foundations of Business

• Chapter 1 Nature and Purpose of Business Class 11 Important Questions
• Chapter 2 Forms of Business Organisation Class 11 Important Questions
• Chapter 3 Private, Public and Global Enterprises Class 11 Important Questions
• Chapter 4 Business Services Class 11 Important Questions
• Chapter 5 Emerging Modes of Business Class 11 Important Questions
• Chapter 6 Social Responsibilities of Business and Business Ethics Class 11 Important Questions

Important Questions of Business Studies BST Class 11 Part 2 Corporate Organisation, Finance and Trade

• Chapter 7 Formation of a Company Class 11 Important Questions
• Chapter 8 Sources of Business Finance Class 11 Important Questions
• Chapter 9 Small Business and Entrepreneurship Class 11 Important Questions
• Chapter 10 Internal Trade Class 11 Important Questions
• Chapter 11 International Business Class 11 Important Questions

We hope the given CBSE Class 11 Business Studies Important Questions Chapter Wise Pdf download of Part 1 Foundations of Business and Part 2 Corporate Organisation, Finance and Trade in Hindi and English Medium will help you. If you have any queries regarding NCERT Business Studies Class 11 Extra Important Questions and Answers, drop a comment below and we will get back to you at the earliest.

FAQ’s on Business Studies Class 11 Important Questions

Question 1. Where do I get Class 11 Business Studies 1 Mark Questions?

Answer: Important Questions for Class 11 Business Studies are provided on Learninsta.com by the subject experts. Check out chapter-wise Business Studies Class 11 Important Questions and Answers and prepare well for the exam.

Question 2. How do I score 90 plus in Business Studies Class 11 CBSE?

Answer: Score 90 Plus marks in the Business Studies Class 11 CBSE by referring to previous papers. Also, preparation notes are given on our website for better preparation for the exams.

Question 3. How should I learn class 11 Business Studies concepts easily?

Answer: Note down all the concepts of Class 11 Business Studies and prepare notes with all the Important Questions and Answers. Check out Business Studies Class 11 Important Questions with Answers on Learninsta.com

Question 4. Where can I get the list of Business Studies Class 11 Important Questions?

Answer: Stay tuned to Learninsta.com to get Business Studies Class 11 Important Questions. We update every important question of Business Studies Class 11 according to the new syllabus.

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Business Studies Class 11 Chapter 2 Important Questions and Answers

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Business Studies is a subject taught in a Commerce student’s syllabus beginning in Class 11 and continuing through Class 12. Students will master an understanding of the area of management and other business disciplines if they study this subject. Forms of Business Organisation is the second chapter of the Class 11 syllabus, and it teaches about different forms of Business. This chapter covers concepts such as various forms of business organisation, features, merits, and demerits, and factors determining the appropriate form of business organisation. It carries significant weightage in the Business Studies syllabus. Students can easily access all this and more on the Extramarks website.

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Students must read through all the chapters to score well in Business Studies. Extramarks understands the importance of solving questions. As a result, we’ve gathered them from various sources, such as the NCERT Textbook, NCERT Exemplar, other reference books, past exam papers, and so on. Our Business Studies experts have curated step-by-step solutions to help students better comprehend the topics. Students can register with Extramarks and access Important Questions Class 11 Business Studies Chapter 2. 

Apart from Chapter 2 Class 11 Business Studies Important Questions, there is so much that the Extramarks website has to offer. Students can easily find materials like NCERT Solutions, CBSE revision notes , past year question papers, NCERT books, and more on the Extramarks website.

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A team of Extramarks specialists have developed an entire list of Business Studies Class 11 Chapter 2 Important Questions taking cues from numerous sources. The questions comprise a wide variety of topics, including the different forms of business organisation, features, merits, and demerits of business organisation, factors determining the appropriate form of business organisation, and so on. These questions and their solutions help students better comprehend Forms of Business Organisations.

Mentioned below are a few Important Questions from Class 11 Business Studies Chapter 2 and their solutions:

Q1. What are the important privileges available to a private company?

Answer: When a business is formed as a private corporation, it has several advantages and exemptions that are not accessible to public companies. Some of the main benefits that a private corporation has are as follows:

• A private business can be formed with as few as two members, but a public corporation requires seven.
• In private business the public is not asked to subscribe to company’s shares and hence a prospectus is unnecessary.
• Shares can be distributed without a minimum subscription requirement.
• A private company can start operating as soon as it receives its establishment certificate. On the other hand, the public company must wait until it gets the starting certificate before it may begin operations.
• A private company only needs two directors, but a public company requires at least three.
• A member index is not necessary for a private organisation but is required for a public corporation.

Q2. With a notable example, explain mutual agency in partnership.

Answer: Mutual agency refers to the legal connection between participants in a partnership who have authorization powers and the authority to engage the collaboration in business contracts. In another way, each partnership member has the authority to make business choices that commit or bind the entire partnership to a commercial contract with a third party or entity. For example, even if the partnership agreement prohibits it, a grocery store partner who acquires a delivery truck in the partnership’s name enters a legally enforceable transaction. On the other hand, such behaviour would be unlawful if a law firm partner purchased a snowmobile for the firm.

Q3. What is meant by “partner by estoppel”? Explain.

Answer: A person who shows others that they are a company partner via their actions, behaviour, or statements, is referred to as Partner by estoppel. Such a person is not a partner, and they are not responsible for providing any cash to the company, nor are they accountable for any  portion of the company’s profit or loss. The same individual, however, may be held accountable for the firm’s debts. Hence, as a result, if the Business has adequate assets or finances, debt repayment can be obtained by selling off the partner’s private assets via estoppel.

Q4. What exactly is HUF?

Answer: Although the Income Tax Act does not define the Hindu Undivided Family (HUF), it is recognised under Hindu law. Unmarried daughters are included in the HUF, as are all those who are lineally settled from the same ancestor. A person does not create HUF but by a family’s standing, i.e., it is created automatically in any Hindu household.

Q5. Why do some consider partnership a relatively unpopular form of business ownership? Explain the merits and limitations of partnership.

Answer: A partnership is viewed as a relatively unattractive sort of company ownership due to the inherent limitations that come with it. These limits include infinite responsibility, limited resources, the possibility of conflict, and a lack of consistency.

• Ease of closure and creation: A partnership business can be established rapidly by agreement amongst potential partners. A company doesn’t need to be registered.
• Balance decision-making: The partners might manage various responsibilities depending on their expertise. As a result, the decision-making process in a partnership business is more balanced than in any other kind of corporate ownership.
• A large amount of funds: Each partner in a partnership provides a certain amount of money. Consequently, compared to a single owner, it is feasible to collect a more considerable sum of cash and carry out additional activities as needed.
• Confidentiality: There is no legal requirement for a partnership business to publish its financial accounts or submit reports. As a result, it may maintain secrecy regarding its operations.
• Sharing the risk: The risks that come with running a partnership business are shared by all partners. As a result, individual partners experience less worry, tension, and stress.

Limitations of business partnership:

• Restricted Resources: Capital investment contributions are frequently insufficient to sustain large-scale commercial activity due to the limited number of partners. As a result, partnership firms struggle to expand beyond a particular scale.
• Conflicts of Interest: The decision-making authority in a partnership business is distributed among the partners. This is also dependent on their level of competence, foresight, and ability.
• Unlimited liability: Partners are accountable for repaying debts from their assets if the Business’s assets are insufficient to fulfil its obligations.
• Lack of continuity: When one of the partners dies, retires, becomes bankrupt, or becomes mad, the partnership comes to an end. On the other side, the surviving partners might enter into a new agreement and continue to run the business.

Q6. In what form of Business do individuals associate freely for profit, with capital dividends into transferable shares, and ownership of which is a requirement of membership? Explain in terms of characteristics.

Answer. A joint-stock company is a non-profit organisation formed by a group of people to do profitable economic activities. It has a legal status distinct from its members and a capital structure separated into transferable shares. A corporation is an independent legal entity with its legal identity, perpetual succession, and a common seal. In a corporation, the shareholders are the company’s owners, and the Board of Directors, which the shareholders elect, is the company’s central management body.

The company’s capital is divided into smaller components known as “shares,” which can be freely transferred from one shareholder to the next (except in a private company). A joint-stock firm has the following characteristics:

• A corporation is a made-up entity. It is a legal entity that exists without the participation of its members.
•  The legal personality of a corporation is established. The law does not regard the Business and its owners as the same.
• Starting a business is a time-consuming, costly, and challenging endeavour. Therefore, incorporation is required for all enterprises.
• It will only be deactivated after completing a specialised operation known as winding up. Members may come and go, but the firm does not cease to exist.
• A company’s common seal may or may not exist.
• All shareholders share the risk of a company’s losses.

Q7. Even though there are limitations of size and resources, several people continue to prefer sole proprietorship compared to other forms of organisation? Why?

Answer: Due to the numerous sheer benefits, it provides despite the size and resource limits. The sole proprietorship is the company’s form of choice. The following are some of the advantages:

• A single proprietorship firm is simple to set up since there are few legal requirements. Similarly, closing a firm is a painless process.
• The sole owner controls the firm as the only decision-maker, allowing for swift choices.
• The sole proprietor enjoys all the Business’s gains while bearing all its misfortunes.
• Because the lone proprietor is the only person in charge of the business, it is highly flexible.

Q8. Which business model is best for the following businesses, and why?

• Coaching centre for the students of science subject
• A beauty salon
• A shopping centre
• Little repair shops

Answer. The suitable business model for the businesses as mentioned earlier would be:

• Coaching center for the students of science subject: Collaboration with a science coaching facility. It’s simple to set up and run, and it’s inexpensive. Partners report their share of profit or loss on their tax returns.
• A beauty salon: A salon can be run as a sole proprietorship. Created and ran straightforwardly and cost-effectively. The owner declares profit or loss on their tax return.
• A shopping center: shopping malls are JSCs (joint-stock corporations). Personal responsibility for commercial debts is restricted for business owners.
• Hotel: In the hotel industry, there are joint-stock companies. Small businesses are drawn to LLCs and corporations because they minimize their owners’ liability for corporate debts and court judgments against the company. Another factor to consider is income taxes: you may set up a limited liability company (LLC) or a corporation to benefit from reduced tax rates. Furthermore, an LLC or company may be able to deduct the cost of a range of fringe benefits passed on to its employees (including the owners) as a business expense.
• A little repair shop: A sole proprietorship is appropriate for a small repair shop. Created and ran straightforwardly and cost-effectively. The owner declares profit or loss on their tax return.
• Restaurant: Ownership of a restaurant as a sole proprietor. Created and ran straightforwardly and cost-effectively. The owner declares profit or loss on their tax return.

Q9. How does a cooperative society exemplify democracy and secularism? Explain.

Answer: A cooperative society is run by persons chosen by all members through a democratic process. Each member has an equal right to vote, regardless of the amount of money they have invested. As a result, it functions as a democracy in which all members are treated equally and have similar rights. Members are not discriminated against because of their caste, religion, or gender. People of the management committee can select the members they believe best represent them. As a result, it denotes secularism.

Q10. What does it mean to have unlimited liability?

Answer: General partners and sole proprietors with unlimited liability are jointly and severally liable for the company’s debts and obligations. However, this obligation is not limited and can be paid off by seizing the owners’ assets, distinguishing it from limited liability partnerships.

Q11. Compare the status of a minor in a Hindu joint family business with that in a partnership firm.

Answer: A person under 18 is considered a minor in Indian law. By being born into a Joint Hindu household, a minor becomes a member of the family company. Like other family members, the minor has equal ownership and rights to the property and company. However, his obligation is limited to his part of the property.

As per the Indian Partnership Act of 1932, a minor cannot become a partner in a partnership business. However, if all partners agree, a minor can be initiated and partake in a firm’s profits. Still, a minor does not need to contribute capital or carry any obligation if the Business supports the firm. Therefore, minors aren’t regarded as partners. However, once they reach the age of 18, they have the option of continuing the relationship or terminating it.

Q12. Who has equal ownership rights to an ancestor’s property? Emphasise its most important aspects

Answer: A Joint Hindu Family is a form of business owned and operated by members of the Hindu Undivided Family (HUF). The company’s membership is based on birth in a specific family, and three generations of the same family can be members. The family’s business is run by the eldest member of the family, known as Karta. Joint Hindu Family Business members with equal ownership rights over an ancestor’s property are known as coparceners.

A combined Hindu family company has the following characteristics:

• Because membership is by birth, there is no requirement for an agreement.
• Except for the Karta, all members are only responsible for their portion of the Business’s co-coparcenary property. The Karta’s responsibility is boundless.
• Karta oversees the family company, and his choices bind everyone.
• After Karta’s death, the business is carried on by the next eldest son, Karta.

Q13. Why is it important to choose an appropriate form of organisation? Discuss the factors that determine the choice of form of organisation.

Answer: Choosing an appropriate business organisation is necessary since it is one of the most important decisions to make when beginning a business or expanding an existing one. A business can be owned and run in several ways. It’s challenging to modify a company model after it’s been decided. As a result, the type of business company chosen should be done with care and consideration.

The following factors influence organisational structure selection:

• Control: With a sole proprietorship, you have complete control over your operations and decision-making authority. If the owners, on the other hand, want to share ownership to make better judgments, they can form a partnership or a corporation.
• Nature of Business: Businesses that involve direct personal connection with customers, such as beauty salons or grocery stores, are better suited to a single proprietorship. The corporate kind of structure benefits large manufacturing units. The partnership structure is significantly more served in the case of professional services.
• Management Skills: Being informed in all firm parts is difficult for a sole owner. Members split their labour in other organisations, such as partnerships and businesses, allowing management to specialise in specific areas and make better judgments.
• Capital Requirements: The corporation form is suitable for large-scale activity since it may generate a large amount of money by issuing shares. There are two options for medium and small firms: partnership or sole proprietorship. In the framework of a company, expansion capital requirements may be managed more easily.
• Continuity: The continuity of sole proprietorship and partnership enterprises can be disrupted by events such as the owners’ death, insolvency, or insanity. In organisations like joint Hindu family companies, cooperative societies, and corporations, such factors, on the other hand, have minimal influence on the business’s survival.
• Liability: The liability of the owners/partners of a sole proprietorship or partnership is unlimited. This might lead to the owners’ assets being used to repay the debt.
• Cost and Convenience of Starting a Company: A sole proprietorship is straightforward to start in terms of initial business costs and legal procedures, but because of its more minor activities, a partnership has the advantage of less legal formalities and lower prices. Registration is necessary in the case of cooperative societies and companies. The process of founding a company takes time and money.

Q14. What are the reasons for the formation of cooperative forms of organisation? Describe the different sorts of cooperative societies.

Answer. A cooperative society is a collection of individuals who get together voluntarily for the common welfare of its members. They are motivated by a desire to defend their economic interests from potential exploitation by intermediaries looking to increase their profits. The process of founding a cooperative organisation is simple, and all that is necessary is the agreement of at least ten adults. A society’s capital is raised by selling shares to its members. An organisation acquires a distinct legal character when it is registered.

One sort of cooperative society is the consumer cooperative society.

• It was designed to protect consumers’ interests.
• To improve operational savings, society strives to eliminate intermediaries. Instead, it purchases things in bulk from wholesalers and resells them to its members.
• Profits are dispersed depending on capital contributions to the organisation or purchases made by individual members.

Producer Cooperative Societies are a specific sort of producer cooperative society.

• It was established to protect the interests of small farmers.
• Members are producers looking for inputs to create commodities to fulfil customer demands.
• Profits are distributed according to their contributions to the society’s overall pool of products produced or sold.

Cooperative Societies Marketing-this organisation was established to help small manufacturers market their products.

• Producers that demand fair pricing for their commodities are among the group’s members.
• It combines individual members’ production and marketing activities such as shipping, storage, and packaging to sell the commodities for the best feasible price. Profits are dispersed according to the amount of money each member puts in.

Farmers’ Cooperative Societies were formed to protect farmers’ interests by providing high-quality inputs at a reasonable price.

• Members are farmers who want to collaborate on farming projects.
• The idea is to increase productivity while reaping the benefits of large-scale farming. Improving farmer output and returns while addressing challenges associated with farming on fragmented land holdings.

Cooperative Financing Societies were established to give members timely credit at reasonable rates.

• Members are individuals seeking financial assistance in the form of loans.
• The purpose of such groups is to protect members from being taken advantage of by lenders who demand high-interest rates on loans.

A cooperative housing organisation is a sort of Cooperative Housing Societies.

• It was established to assist low-income people in constructing homes at a reasonable cost.
• These societies are people looking for a cheaper location to reside in.
• The purpose is to alleviate members’ housing issues by constructing homes and allowing them to pay in instalments.

Q15. If registration is optional, why do partnership firms willingly go through this legal formality and register themselves? Explain.

Answer: Although partnership business registration is optional, many firms choose to do so. This is owing to the severe legal consequences of failing to register. Listed below are a few examples:

• The partners of a non-registered business cannot sue a third party, but the non-registration of a partnership firm does not prevent other firms from hiring it.
• The company is forbidden from filing a lawsuit against any of its partners. Similarly, a partner in a non-registered firm cannot sue their co-partners or the company.
• Claims against a third party by a non-registered partnership entity cannot be enforced in court. As a result, partnerships are established to overcome these disadvantages.

Forms of Business Organisation Class 11 Important Questions – Key Topics Covered 

Class 11 Business Studies Chapter 2 Important Questions covers the following key topics:

Forms of business organizations

There are several different types of business organizations from which to choose:

• Sole proprietorship 

Joint Hindu family business

• Partnership 
• Cooperative societies

Joint-stock company

Sole Proprietorship

It is a type of Business owned, managed, and controlled by a single person who carries all the risks and reaps all the rewards.

• It can be formed and disbanded without the need for any legal requirements.
• In this business organisation, the lone proprietor’s responsibility is unrestricted.
• As the single risk carrier and profit recipient, he bears all the risks and reaps all the rewards.
• There is no distinction between the owner and the Business in the eyes of the law.
• All choices must be made by the owner, which necessitates prompt decision-making.
• As a lone proprietor, it is simple to keep company secrets.
• Because there is no one to share gains with, the owner enjoys all the profits.
• There are no legal requirements for establishing and closing a business, making creating and completing one simple.

Limitations:

• The owner’s savings or money borrowed from friends and family might be used to support the Business.
• A business’s life expectancy is limited as it is dependent on the owner’s health and mental state.
• His assets are at stake if the firm fails to satisfy its debts.
• A single individual may not be able to oversee all of the functions.

It is a type of business that is owned and managed by members of an undivided Hindu family, with three generations of family members potentially participating.

• Hindu Undivided Families are created when at least two family members have ancestral property. The Hindu Succession Act of 1956 governs it.
• Except for the Karta, all family members have limited responsibility for their part of the company property.
• Karta oversees all actions inside the corporate organisation.
• It can be stopped if all members of the family agree to it.
• Organisation membership is based on birth.
• With ‘Karta,’ you have complete control over your firm and can make better decisions.
• If ‘Karta’ dies, the Business continues until all members desire to continue, and then control is given to the next eldest member.
• Family members are only liable for their share of the business party.
• Because family members feel connected and loyal, they work together to achieve a common goal of progress.
• Businesses might be supported primarily via inheritance, restricting financial resources.
• Karta’s personal property is at risk due to his unlimited liability.
• Differences of opinion among members and the ‘Karta’ might lead to conflict.
• Karta’s managerial abilities are limited, and he may not be familiar with all of the Business’s functions.

Partnership:

According to the Partnership Act of 1932, a partnership is a relationship between people who have agreed to share the earnings of a firm run by all or by one acting on behalf of all of them.

• The partnership Act of 1932 governs the establishment of the Business.
• The liability of all company partners is unlimited.
• All the partners share the risk in the Business.
• All decisions are made with the approval of all partners, and each partner bears responsibility for the company’s day-to-day operations.
• Because registration is optional, a business can be formed and ended with the approval of all partners.
• As partners take on tasks according to their competence, all choices are made by consensual partners.
• All partners contribute money, broadening the scope of large-scale company operations.
• There is no need to report financial results; therefore, maintaining corporate secrets is simple.
• Their complete responsibility covers each partner’s personal property.
• All parties may have differing viewpoints, which can lead to conflict.
• Any disagreement between partners or the death of a partner might put the company out of operation.
• Due to a lack of financial disclosures, an outsider can’t determine the actual economic situation.

Cooperative society

An organisation of volunteers working for a shared goal to protect members’ economic and social interests. The Cooperative Societies Act of 1912 requires it to be registered.

• Any individual with a shared interest, regardless of caste, gender, or religion, is free to join or leave a cooperative organisation at any time.
• A cooperative society has a different identity from its members, and the registration of such a group is required.
• The goal of forming a society is to provide mutual assistance to team members.
• Each member has the same right to vote and elect managing committee members.
• Cooperative societies maintain their existence in the face of death, bankruptcy, or insanity among their members.
• Members of society work willingly, which helps to save expenses.
• The only funding source is the member’s capital contribution, and the low dividend discourages members from contributing money to the organisation.
• Volunteer members may lack the requisite competence and skills, resulting in inefficient operations and management.
• It’s challenging to preserve secrets since members provide all information about the society’s operations at the meeting.

“A corporation is an artificial person with a separate legal existence, eternal succession, and a common seal,” according to the Companies Act of 2013.

• A corporation is a legal entity with legal standing but does not act as humans do. The board of directors conducts all corporate actions in the corporation’s name.
• Companies are founded following the legal requirements outlined in the Companies Act of 2013.
• A corporation is formed by law and may only be disbanded by legislation. Therefore, the company’s existence is unaffected by the status of its members.
• The responsibility of shareholders is limited to their investment in the firm. Therefore, there is no chance of personal assets being lost.
• The firm’s existence is unaffected by its stockholders’ status; it continues to exist.
• Companies can borrow vast sums of money from financial institutions or banks and solicit cash from the public.
• The formation of a corporation necessitates the completion of several documents and legal requirements, making the process lengthy and complicated.
• There is no confidentiality or secrecy because all financial information is given to the general public.
• Decision-making must adhere to a hierarchy, leading to delays in making judgments and implementing actions.

Choice of the Type of Business organisation

• Nature of Business
• Cost of setting up the organisation
• Capital consideration
• Degree of control
• Management ability

The briefly described topics in the above sections are covered in the Important Questions Class 11 Business Studies Chapter 2. 

Benefits of Solving Class 11 Business Studies Chapter 2 Important Questions

Business Studies is one subject that requires a lot of reading and revisions. This subject is introduced in Class 11, and it prepares the base for Class 12 board examinations. Therefore, students are advised to access Important Questions of Business Studies Class 11 Chapter 2 . Students will get a sense of confidence by solving essential questions from all the chapters and overlooking their solutions. 

Mentioning below are some benefits of solving Important Questions Class 11 Business Studies Chapter 2:

• Students will benefit from practising questions similar to exam questions to do better in their examinations and earn high grades.
• The questions and answers follow CBSE criteria and are based on the most recent CBSE syllabus . As a result, students can rely on them.
• These important questions are prepared by following the exam writing pattern. Therefore, going through these will help students prepare for exams too.

Extramarks provides comprehensive learning solutions for students from Class 1 to Class 12. We have abundant resources available on our website, along with essential questions and answers. Students can click on the links given below to access some of these resources:

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Q.1 The North Coast Cooperative that was Established in 1973 was the large consumer cooperative that offered a full service grocery store and deli. Director started to deal with bulk purchasing and packaging issues. Many people in the college-campus area wanted a supply of natural food products, which didnt exist. They wanted a cheaper, more reliable supply if they purchased togetherin bulk.

From the start, the co-op tried to provide a market for local produce. Initially, the farmers provided a fairly limited variety, mostly tomatoes, sweet corn, zucchini and other common garden vegetables. The co-op uses purchasing contracts, which act as a type of insurance to motivate farmers to produce new and different varieties

Explain the type of cooperative society that is refered to here. Also give three points to support the formation of such a form of business enterprise.

Marks: 1 Ans

This is a consumer cooperative society. These are formed to protect the interests of consumers. Members are consumers who want to get good quality products at reasonable prices. The society aims at eliminating middlemen for economy in operations.

Society purchases goods in bulk directly from the wholesalers and sells goods to the members directly.

Profits are distributed on the basis of either their capital contributions to the society or purchases made by individual members.

Merits of cooperative form of organisation are:

(i) Equal voting status: There is a principle of ‘one man one vote’ i.e., irrespective of the capital contribution by a member, each member is entitled to equal voting rights.

(ii) Limited liability: As the liability of members of a cooperative society is limited to the extent of their capital contribution, their personal assets of the members are safe from being used to repay business debts.

(iii) Stability: Death, bankruptcy or insanity of the members do not affect continuity of a cooperative Society i.e., it remains unaffected by any change in the membership.

(iv) Economy in operations: Focus of society is on elimination of middlemen which helps in reducing costs.

(v) Government support: Cooperative society exemplifies the idea of democracy and hence Government supports in the form of low taxes, subsidies, and low interest rates on loans.

(vi) Ease of formation: It can be started with a minimum of ten members and registration procedure is simple with few legal formalities.

Q.2 A friends group of a hotel management institute wants to start their own catering house that will serve parties, weddings, church functions and business events. All 4 of them are very good cooks and have managed the university parties very well. They want to start and see that how this business works with contributing small small savings initially.

What form of business organisation shall they form with limited funds

Looking at their conditions and case, the friends shall form a partnership initially. Partnership offers the advantage of less legal formalities and lower cost because of limited scale of operations.

After being successful, this partnership can take form of any other form of business organisation based on the decisions of partners.

Q.3 Karan is the sole owner of a shoe manufacturing factory. He took loan of `30 lakhs from a bank so as to expand his business further. However, he incurred losses in the business, due to which Karan was not able to pay the loan on time and his assets were also not sufficient enough repay back the loan. As a result, the bank asked him for repayment of loan, but he refused to pay on the ground that the loan was taken in the name of business and not for personal use. The bank file a case against Karan and the court gave the decision in favor of Bank on the on the basis that Karan is the sole proprietor and his business doesnt have separate identity from his own. The Court further stated that Karan is liable to repay the loan even by selling his personal property.

State the demerits of the business organisation being highlighted in the above case.

Marks: 6 Ans

The form of business organisation being highlighted above is Sole proprietorship.

Demerits of Sole proprietorship

• Limited life: Death, insolvency or illness of proprietor affects the business and may even lead to its closure as he/she is the sole owner of the business.
• Unlimited liability: Owner has unlimited liability. In case of business failure, creditors can recover their dues not only from the business assets, but also from the personal assets of proprietor. It makes the sole proprietor less inclined towards taking risks in the form of innovation or expansion
• Limited resources: Resources are limited to his/her personal savings or borrowing from other parties. Banks and other financial institutions might hesitate in lending long term loan to the sole proprietor. Size of the business rarely grows much and generally remains small due to lack of resources.
• Limited Managerial Ability: The proprietor has to assume responsibility of varied managerial tasks. Since a business owner may not be a specialist in every field, there is a possibility of unbalanced decision making. Moreover, proprietor may not be able to employ and retain talented and ambitious employees, due to limited resources.

Q.4 A private company is superior to a public company. Discuss this statement in the light of privileges of a private company.

Privileges of a private limited company as against a public limited company:i. A private company can be formed only by two members, whereas seven persons are needed to form a public company. ii. There is no need to issue a prospectus as public is not invited to subscribe to the shares of a private company. iii. Allotment of shares can be done without receiving the minimum subscription. iv. A private company can start business as soon as it obtains the certificate of incorporation, whereas a public company can start its business only after receiving the certificate of commencement of the business. v. A private company needs to have only two directors as against the minimum of three directors in case of a public company. vi. A private company is not required to keep an index of members, while it is necessary in case of a public company.

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Cbse class 11 business studies important questions, chapter 1 - business, trade and commerce.

Chapter 3 - Private, Public and Global Enterprises

Chapter 4 - business services, chapter 5 - emerging modes of business, chapter 6 - social responsibilities of business and business ethics, chapter 7 - formation of a company, chapter 8 - sources of business finance, chapter 9 - small business, chapter 10 - internal trade, chapter 11 - international business, faqs (frequently asked questions), 1. how many business studies books are there for class 11.

For Class 11 Business Studies, the Central Board of Secondary Education (CBSE) only recommends one book. Therefore, the National Council of Educational Research and Training (NCERT) has released this book, which is available in both English and Hindi. This book is broken into two sections and has ten chapters. Part A comprises six units that address business foundation information, while part B contains the remaining four units that discuss financial and trade knowledge.

2. What are the essential chapters in Business Studies in Class 11?

There are ten chapters in the Business Studies syllabus for Class 11. Chapter 7 – Sources of Business Finance, Chapter 8 – Small Business, Chapter 9 – Internal Trade, and Chapter 10 – International Business are the most significant. It is so because they have a greater weight than the rest of the syllabus. Students can refer to Important Questions Class 11 Business Studies Chapter 2 for easier comprehension of these chapters.

3. What is so special about Important Questions Class 11 Business Studies Chapter 2 that it makes Extramarks stand out from the rest?

 These Important Questions Class 11 Business Studies Chapter 2 are developed exclusively by the Extramarks subject experts. These solutions are 100 percent authentic and have been made after much research. They cover the concepts of the entire chapter and are written in simple and easy language.

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Chapter-wise MCQs for CBSE Class 11 Business Studies: Based on latest CBSE Syllabus 2023-2024

Find chapter-wise mcqs for cbse class 11 business studies. also, find attached the chapter-wise pdf download link for the same. these mcq-type questions will come in handy for class 11 students in preparation for end-term examinations in 2024.

MCQs for CBSE Class 11 Business Studies: Jagran Josh brings to you chapter-wise MCQs for CBSE Class 11 Business Studies. PDF download links for all chapters have been attached here, for your reference. These questions and answers have been specially prepared by subject experts, as per the Revised CBSE Syllabus 2023-2024. This article will be useful for CBSE students of Class 11. Also, find attached links to important resources for preparing for the end-term examinations in 2024.

• Direct Text-based Question Answer
• True or False
• Fill in the blanks
• Match the following
• Check which statement is true
• Pick the odd one out
• Assertion and Reasoning
• Case studies based/ Source-based

How to prepare for Multiple-Choice Questions (MCQs)

• Thoroughly read your chapters
• Prepare/ Read mind maps
• Solve in-text NCERT Questions
• Solve Sample papers
• Practice from Previous-Year Question Papers
• Take online Mock tests
• Prepare from Question Banks/Reference Books

CBSE Class 11 Business Studies Revised Syllabus 2023-2024 (PDF)

Mind Maps for CBSE Class 11 Business Studies 2023-2024 (PDF)

Find Chapter-wise MCQs for CBSE Class 11 Business Studies:

Here, we have provided MCQs for all chapters of Class 11 Business Studies. PDF download links for each chapter have been attached to the article for students. We have considered CBSE' s updated guidelines, curriculum, and other relevant details while preparing these Multiple Choice Questions for you. As per the competency-focused questions released by the boards, MCQs are going to play an essential role in the process.  

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• Business Studies

Class 11 Business Studies Notes & Model Test Papers

• CBSE Syllabus

CBSE Sample Papers

Cbse last year papers, user submitted papers,   mock tests, nature and purpose of business, forms of business organisations, public private and global enterprises, business services, emerging modes of business, social responsibility of business and business ethics, sources of business finance, small business and enterprises, internal trade, international trade.

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Other useful resourses,   online tests,   learning videos.

As we know business is something that sustains an economy. We are surrounded by a business world which makes it pertinent to have an operational knowledge of Business Studies. This subject is introduced in the plus-two level as an academic elective of the commerce stream. Students can access all valuable resources related to senior secondary Business Studies on the student’s best app myCBSEguide .

Study Material for CBSE Class 11 Business Studies

Knowledge of Business Studies gives a point of view of the business world and methods of interacting with the business environment. The senior secondary Business Studies curriculum develops an understanding of many social and ethical issues among the students. To prepare for this subject well, students can take the help of myCBSEguide where they can find the study material for Class 11 Business Studies. Right from the CBSE syllabus, NCERT textbook, Textbook Solutions, Revision Notes, Important Questions, online tests, test papers, learning videos, model question papers of class 11 Business Studies, etc. Our premium content has been trusted by millions of teachers and students alike.

CBSE Class 11 Business Studies Syllabus

The syllabus for CBSE Class 11 Business Studies prepares students to analyze and respond to the changes in the business world. The idea is based on the fact that business influences our social, political, and legal surroundings. Therefore the Business Studies syllabus attempts to keep the students up-to-date with the business market. The table below names the chapters included in the class 11 Business Studies syllabus for the current session. Knowing the syllabus right is the first step in beginning your preparation. To get more details about the topics of the mentioned units click on CBSE Class 11 Business Studies-syllabus 2022-23 .

Class 11 Business Studies NCERT Solutions & Important Questions

As we know NCERT solutions are very important while preparing for the CBSE examination. These questions give an outline of the basic types and formats of questions that are probable. Knowing the NCERT textbook solution is a must for every CBSE student. Sometimes, the final board examination question paper is completely based on the NCERT. You can download the NCERT solutions for Class 11 Business Studies on the myCBSEguide mobile app .

We also get some important questions prepared by experienced teachers from significant sections of each chapter. These questions can be found under the extra questions or important questions section of our student dashboard . To know the important questions for Class 11 Business Studies, check out our course content now.

Class 11 Business Studies Sample Papers

Sample papers are the best tool to prepare for the final examination. The sample papers available on myCBSEguide are the true copy of the latest CBSE sample papers with the same blueprint and Marking Scheme. We have a team of experts who do a detailed analysis of the Business Studies question paper to prepare the model question papers provided by us. It is one of our most valued and marketed products. The best part is, we prefer to abide by the latest CBSE syllabus and guidelines for examination (if any). Therefore, students get huge benefits from our sample papers which are reflected on their mark sheets. You can check the details of Class 11 Business Studies Sample Paper 2023 from the app or website and download the same. At the senior secondary level, students need to be more attentive and serious towards their preparation and so they should not miss out the solving sample papers before writing their final papers.

Class 11 Business Studies Test Papers & Mock Tests

Students can also find chapter-based test papers for class 11 Business Studies on the dashboard. These test papers are a good tool for the formative learning process. The sample papers can be accessed after the CBSE releases its official sample paper. But test papers can be used at any point in time.

We also provide online tests for Class 11 Business Studies. These tests are good for objective types of questions like MCQs or one-word answers. Before the final examination, we also arrange for mock tests and test series for core CBSE subjects. Registered students are notified about these tests.

This year CBSE has already released its practice papers, check them on Practice Paper 2023 Class 11 Business Studies question papers are also available here.

Class 11 Business Studies Case Study Questions

Being a subject of profession Business Studies have a huge scope of presenting real-life situational questions. Hence, senior secondary Business Studies students need good practice with these types of questions.

According to the new education policy , competency-based education is promoted. With this aim, case-based questions were introduced last year. These types of questions are designed to hone the analytical thinking of the students and apply the knowledge and technique that they have acquired in the due course in solving real-life situation-based questions. It enhances the rational thinking of the learners and they eventually gain a critical and analytical understanding of the subject. We have best case study questions for Class 11 Business Studies. You may find many such questions in publication books, but we have an assortment of Business Studies CBQs which require the application of key business concepts covering all important topics. Check the link for Class 11 Business Studies Case-Studies Questions .

Class 11 Business Studies Case Study Sample Question

OLX and qickr are examples of well-known websites used to conduct business. Tarasha’s sofa set got spoiled in the rain. Her friend suggested that she should change the fabric so that it looks new and put it for sale on Olx. Tarasha followed her friend’s advice and got her sofa repaired so that it looked better and uploaded nicely clicked pictures on the website without disclosing the fact that it was damaged from the inside. She found a buyer and sold it for Rs 10,000. After five days the buyer found the real state of the sofa set and called Tarasha but she did not answer any of the calls.

• identify the type of business highlighted in the above case.
• Identify any two values which are overlooked by Tarasha.
• Explain any two benefits and limitations of e-business.

A well-furnished course plan of preparation is a must if you plan to shine in your exams. We have been assisting students in their learning process through our reliable content for a decade. We are a one-stop platform where you can get literally everything (for Class 11 Business Studies (be its textbook, syllabus, revision notes, or model question papers and mock tests. To get study material in other classes and subjects check our CBSE module . From the google play store download the myCBSEguide app now.

CBSE Class 11 Business Studies Case Study Questions are available on myCBSEguide App. You can also download them from our student dashboard. For students appearing for grade 11 CBSE exams from the Commerce stream, Business Studies is a fundamental subject. Business Studies is considered to be quite interesting as well …

CBSE Class 11 Business Studies Syllabus 2022-23

CBSE Class 11 Business Studies Syllabus 2022-23 includes Nature and Purpose of Business, Forms of Business Organisations, Public, Private and Global Enterprises, Emerging Modes of Business etc for the session 2022 – 2023. Here is the detailed syllabus. To download class 11 Business Studies CBSE latest sample question papers for …

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Creating question papers online is easy. You can create question papers online with your name and logo in minutes. So, why to waste time consulting many books and finding suitable questions. Just log in to myCBSEguide Test Generator here and create question papers online. Follow 3 simple steps: Select your …

CBSE Syllabus for Class 11 Business Studies 2019-20

CBSE Syllabus for Class 11 Business Studies 2019-20 contains all the topics of this session. myCBSEguide provides you latest Syllabus for Class 11 Business Studies. The study of business is about how individuals and groups of people organize, plan, and act to create and develop goods and services to satisfy …

CBSE Released Syllabus for 2019-20

CBSE syllabus for 2019-20 is now available for download in CBSE official website and myCBSEguide Mobile App. The new syllabus for 2019 and exams to be held in March 2020. CBSE 2019-20 syllabus for March 2020 examination is released by CBSE, New Delhi. CBSE class 10 Syllabus for 2019 and …

Revision Notes of Class 11 Business Studies

Revision Notes of for Class 11 Business Studies in PDF are available for free download in myCBSEguide mobile app. The best app for CBSE students now provides class 11 Notes latest chapter wise notes for quick preparation of CBSE exams and school-based annual examinations. Class 11 Business Studies notes are …

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Class 11th Business Studies - Business Service Case Study Questions and Answers 2022 - 2023

QB365 provides a detailed and simple solution for every Possible Case Study Questions in Class 11 Business Studies Subject - Business Service, CBSE. It will help Students to get more practice questions, Students can Practice these question papers in addition to score best marks.

QB365 - Question Bank Software

Business service case study questions with answer key.

11th Standard CBSE

Final Semester - June 2015

Business Studies

Demonetization in India led to the need for cashless economy. It had a great impact on banking industry. Banks were overflowing with old currency on the one hand and were in cash crisis for new currency. Gradually the problem smoothened but now a hawker and peddler are accepting Paytm, mpesa and other forms of digital cash. Promotion of "mera mobile mera batuaa" concept motivated even the cobbler, hair cutters, vegetable and fruit vendors and other small service providers to accept digital cash and cashless forms. Popularity of plastic money (debit and credit cards) also increased. (a) In the light of above facts, discuss the importance of banking in business and trade. (b) How will demonetization create new aids to trade?

Sanjana obtained a life insurance policy of her husband. After 5 years, her husband dies of cancer. At the time of policy also Sanjana and her husband were aware of the disease but they did not disclose it to the insurance company. (a) Can she claim the amount of policy from the insurance company? (b) Identify the principle of insurance involved. (c) Explain two more principles of insurance.

A person gets his house insured, but he hides the fact that he stores petrol in his house. His house catches fire. He does not bother to minimize the loss as he felt that his house is insured so it is not his headache to make an effort to minimize the loss. (a) Can he claim compensation? (b) State the name of principles involved. (c) Explain these principles.

Mr. X applied for a loan from State Bank of India to expand his shop under Pradhan Mantri Mudra Yojna. Later he purchased a home by taking a home loan from bank. Then he purchased a car on EMI financed by a bank. He also has a saving account with the bank. All his EMIs are getting deducted from his saving account. He has also taken a locker facility from the bank where he keeps his important documents and valuables. (a) Identify primary functions of commercial bank that Mr. X is availing of. (b) Identify agency functions of commercial bank Mr. X is availing of. (c) Identify general utility functions of commercial bank Mr. X is availing of.

One fine day, government announced some policy which was against the interests of truck drivers. As a result, all truck drivers went on strike. Strike continued for three days. It created a calamity kind of situation in the country. People started facing problems even for basic needs. Businesses had to pay labour without work. Many factories could not•..be operational. Many others had to send goods at a higher price to maintain their market. It led to rise in prices of even basic goods. Ultimately government has to accept the demands of truck drivers so that they discontinue the strike. (a) In the light of above facts, discuss importance of transportation in business and trade. (b) How can transportation strike create calamity kind of situation?

Shilpi is planning to start a business. She is having a place where she will establish her factory. But she has no space for warehouse. She is under an impression that she must have a private warehouse if she wants to run business successfully. She is not having enough funds to own a private warehouse. (a) Is she right in her opinion? (b) What are other options she has?

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• NCERT Class 11 Business Studies

NCERT Solutions for Business Studies Class 11

NCERT Solutions for Class 11 Business Studies provide a wide range of concepts and introduction to the subject that include all the questions provided in the NCERT books. Business Studies is a curriculum subject that adopts areas like marketing, accounting and economics. Its study amalgamates the concepts of finance, marketing, accountancy, economics and organisational studies. Business Studies is a comprehensive subject in Social Science, allowing the meticulous study of a span of skills, such as finance, organisation, accountancy, marketing and human resources management. Students can understand all of these without any confusion from the NCERT Class 11 Solutions at BYJU’S.

NCERT Solutions for Class 11 Business Studies chapter-wise is given below.

A study of business is an expanse of focus within an academic agenda taught at an academic establishment, which occurs mainly around some characteristics of the conduct of business at the community level, national or universal marketplace.

Students attain good scores in their examinations when they are provided with the best books. Some of the prominent best books are NCERT Solutions for Class 11 Business Studies. NCERT Class 11 syllabus is a valuable resource for students. Business Studies are taught in various countries like Argentina, Brazil, Canada, India, Ireland, Singapore, South Africa, the United Kingdom (UK), and Zimbabwe.

The above-mentioned is the syllabus for the Class 11 CBSE syllabus. For more solutions and study materials of NCERT Solutions for Class 11 Business Studies, visit BYJU’S or download the app for more information and the best learning experience.

Access and download  NCERT Class 11 Books  here.

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