CBSE Class 11 Business Studies Nature and Purpose of Business VBQs

CBSE Class 11 Business Studies Nature and Purpose of Business VBQs read and download in pdf. Value Based Questions come in exams for Business Studies in Class 11 and are easy to learn and helpful in scoring good marks. You can refer to more chapter wise VBQs for Class 11 Business Studies and also get latest topic wise very useful study material as per latest NCERT book for Class 11 Business Studies and all other subjects for free on Studiestoday designed as per latest Class 11 CBSE, NCERT and KVS syllabus and examination pattern

VBQ for Class 11 Business Studies Chapter 1 Business Trade and Commerce

Class 11 Business Studies students should refer to the following value based questions with answers for Chapter 1 Business Trade and Commerce in Class 11. These VBQ questions with answers for Class 11 Business Studies will come in exams and help you to score good marks

Chapter 1 Business Trade and Commerce VBQ Questions Class 11 Business Studies with Answers

Very Short Answer Type Questions



Question : Which type of risks means chance of loss without any possibility of gain?
Answer : Pure risks.
 
Question : Why do we insure goods?
Answer : We insure goods in order to minimise the risk of loss. Goods may be damaged or destroyed by fire, theft and natural calamities in the process of transport and storage. Insurance protects against such loss.
 
Question : Mining of iron ore is an example of which industry?
Answer : Primary industry.
 
Question : Is dairying a genetic or an extractive industry?
Answer : Genetic industry.
 
Question : Mention two types of secondary industries.
Answer : (a) Manufacturing industries. (b) Construction industries.
 
Question : Give two examples of tertiary industries.
Answer : (a) Banking. (b) Transportation.
 
Question : Name the business activity which is concerned with conversion of resources into useful products.
Answer : Industry. 
 
 

Short Answer Type Questions 


Question : If a person sells his domestic computer at a profit, will it be considered a business? Also explain the characteristic of business which is being highlighted above. 
Answer : No.
Characteristic of Business —
Dealing in goods and services on a regular basis/regular dealing. 
 
Question : Tea is mainly produced in Assam, while cotton in Gujarat and Maharashtra but they are required for consumption in different parts of the country. How can this hindrance of place be removed?
Also under what business activity will it be categorised. State. 
Answer : Through ‘Transport’ this hindrance of place can be removed. (Auxiliaries/Aids to Trade)
It will be categorised under ‘Employment’. 
 
 
Question : Deepak Wadhwa and Sons have been carrying on the business of diamond cutting since the last three generations in Bhuj, Gujarat. Since Bhuj is prone to earthquakes, the firm has decided to insure their business premises and inventory with Star Insurance Company.
Which kind of risks the company is trying to minimise? 
Answer : Natural causes.
 
Question : Ram, Mohan and Sohan are good friends. Ram is working as a doctor in a private hospital and getting salary ` 1,50,000 per month. Mohan is a farmer and producing 50 quintals wheat for his own consumptions. Sohan is working as a teacher in a school and getting salary ‘ 40,000 per
month. In addition to that Sohan teaches some slum area children in the evening and does not charge anything from them. It gives him a psychological and mental satisfaction. 
(a) Which type of human activity is performed by Ram.
(b) Which type of human activity is performed by Mohan?
(c) Quoted from the lines from the above paragraph which types of human activities are performed by Sohan.
Answer : (a) Economic activity.
(b) Non-economic activity.
(c) Sohan is a teacher in a school and getting salary-Economic activity.
Sohan teaches some students of slum area and does not charge from them as it gives him psychological and mental satisfactions-Non-economic activity. 
 
 

Long Answer Type Questions

1. Discuss the development of indigenous banking system in Indian subcontinent.
2. Define business. Describe its important characteristics.
3. Compare business with profession and employment.
4. Define Industry. Explain various types of industries giving examples.
5. Describe the activities relating to commerce.
6. Explain any five objectives of business.
7. Explain the concept of business risk and its causes.
8. What factors are to be considered while starting a business? Explain.
Chapter 01 Business Trade and Commerce
CBSE Class 11 Business Studies Nature and Purpose of Business VBQs
Chapter 02 Forms of Business Organisation
CBSE Class 11 Business Studies Forms of Business Organisation VBQs

VBQs for Chapter 1 Business Trade and Commerce Class 11 Business Studies

We hope students liked the above VBQs for Chapter 1 Business Trade and Commerce designed as per the latest syllabus for Class 11 Business Studies released by CBSE. Students of Class 11 should download the Value Based Questions and Answers in Pdf format and practice the questions and solutions given in above Class 11 Business Studies VBQs Questions on daily basis. All latest VBQs with answers have been developed for Business Studies by referring to the most important and regularly asked topics which the students should learn and practice to get better score in school tests and examinations. Expert teachers of studiestoday have referred to NCERT book for Class 11 Business Studies to develop the Business Studies Class 11 VBQs. After solving the questions given in the VBQs which have been developed as per latest course books also refer to the NCERT solutions for Class 11 Business Studies designed by our teachers. We have also provided a lot of other VBQs for Class 11 Business Studies which you can use to further make yourself better in Business Studies.

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