class 11 business studies case study questions pdf chapter 3

Monday 12 September 2016

Business studies case studies class 11; chapters 3,4 and 5, 14 comments:.

Sir inke solutions kha milenge

Sir where are the answers of all these questions

Yes sir we want answers

anssererdsd

sir answers pls

answer de na

Ans. Dasso yrr

Give answer of these case studies

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Sir answer kaha h

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CBSE 11th Standard CBSE Business Studies question papers, important notes , study materials , Previuous Year questions, Syllabus and exam patterns. Free 11th Standard CBSE Business Studies books and syllabus online. Practice Online test for free in QB365 Study Material. Important keywords, Case Study Questions and Solutions. Updates about latest education news and Scholorships in one place.

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CBSE Class 11 Business Studies Chapter 3 Private, Public and Global Enterprises PDF

CBSE Class 11 Business Studies Chapter 3 Private, Public and Global Enterprises are one of the most important tools in study material that students can get as it will aid them to study properly and reduce any stress that they face during the academic year before.

CBSE Class 11 Business Studies Chapter 3 Private, Public and Global Enterprises

SelfStudys provides chapter-wise Business Studies and short key notes for the CBSE board examination in free downloadable PDF format so students can practice it for their studies and get better in their board examinations. The CBSE Class 11 Revision notes are made for some important subjects such as Maths, English, Hindi, Physics, Chemistry and Biology. These core subjects can be very difficult for students and the revision notes for every chapter will enable them to have a skilful studying pattern with which they can achieve so much better and also enjoy studying the subject.

Last-minute revision is never easy. Our CBSE Chapter 3 Private, Public and Global Enterprises revision notes summarise key points of a chapter in an easy to remember form. They provide students with an additional edge and help boost confidence before appearing for their examinations. The CBSE Business Studies Chapter 3 Private, Public and Global Enterprises have been widely compiled by teachers with close to 15 years of experience and after studying the last ten years of examination papers. Further, they are all made with the latest educational year's subject material so that any deviation in the syllabus is considered as well. CBSE Class 11 Chapter 3 Private, Public and Global Enterprises revision notes are very important and useful because, for the science and maths subjects, it is essential that all questions are explained in a quick and efficient manner. By studying from certain revision notes and using sample papers, students will no doubt be able to relieve any tension before the examinations as they will be fully prepared in advance for their board exams. Also, the CBSE Class 11 Business Studies Chapter 3 Private, Public and Global Enterprises PDF is easy to read and includes all the material, all clearly described and in a short manner. Students can also use the sample papers that Selfstudys provides for Class 11 along with the CBSE Class 11 Chapter 3 Private, Public and Global Enterprises revision notes provided. Together, students will be prepared to answer every type of question, both objective and subjective and aim for the best in their last year of school.

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Importantance of CBSE Class 11 Business Studies Chapter 3 Private, Public and Global Enterprises for Students

All the revision notes have been made in accordance with the latest CBSE syllabus so that there is no mistake if changes have been created by the CBSE board. The Chapter 3 Private, Public and Global Enterprises revision notes have been made by teachers who have vast experience and know exactly what is needed. Further, students will be able to see chapter-wise Business Studies with short key notes that could raise their preparations. The CBSE Business Studies are prepared with each chapter explained in a concise manner from the latest edition of the books. The CBSE Class 11 Business Studies Chapter 3 Private, Public and Global Enterprises are available in a PDF format so that students can simply refer to it whenever required thorough SelfStudys. The teachers who prepare these Business Studies have done so after rigorously going through the last ten year's question papers and then taking them down. Because of the large amount of content present in most of the books, it can be difficult for students to keep up with all of it. The Business Studies can play a role in helping easier studying methods. SelfStudys is one of India’s leading education platforms for students all over the country.

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The studying process is student-specific I.e., some students prefer kinesthetic studying, some are auditory students, and others may find visual studying to be more efficient. But these different processes are just a part of the studying experience, the other important aspect is the revision. Students have to strengthen their studying, hence revisions are a way to begin about this phase.

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NCERT Solutions for Class 11 Business Studies Chapter 3

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11th B St Chapter 3 Short Answer Questions

Explain the concept of private sector and public sector.

Private Sector : The private sector is the part of the economy, sometimes referred to as the citizen sector, which is owned by private individuals or groups, usually as a means of enterprise for profit, rather than being owned by the state. The sole or main motive of private sector is profit earning. In other words, it encompasses all organisations that are not owned or operated directly by the government. The private sector consists of the following types of organisations. • Sole proprietorship • Partnership • Joint Hindu Family • Cooperative societies • Company Public Sector : The Public Sector is usually comprised of organizations that are owned and operated by the government and exist to provide services for its citizens. Through the process of outsourcing, public sector organizations will often engage private enterprises to deliver goods and services to its citizens. This sector is directly owned and operated by the government. Example: Bharat Heavy Electricals Ltd, Oil India Ltd and Life Insurance Corporation of India

State the various types of organisations in the private sector.

The private sector is the part of the economy, sometimes referred to as the citizen sector, which is owned by private individuals or groups, usually as a means of enterprise for profit, rather than being owned by the state. The private sector consists of the following types of organisations • Sole proprietorship • Partnership • Joint Hindu Family • Cooperative societies

What are the various types or organistions that come under the public sector?

The public sector consists of organisations that are directly owned and operated by the government. These organisations are either wholly or partially under government control. The following are the various forms of public sector organisations. • Departmental undertakings • Statutory corporations • Government companies • Government banks and Public sector undertakings

List the name of some enterprises under the public sector and classify them.

• Departmental undertakings: Posts and Telegraphs, Indian Railways
• Statutory corporations: Food Corporation of India (FCI), Life Insurance Corporation of India (LIC)
• Government companies: ONGC, Bharat Heavy Electricals Ltd
• Government Banks: Indian Overseas Bank, State Bank of India

11th B St Chapter 3 Important Questions

Why is the government company form of organisation preferred to other types in public sector.

The following statement is according to Indian Companies Act of 1956. A government company is one in which at least 51 per cent of the company’s shares are held either by the central or by the state government. The government company form of organisation preferred to other types in public sector. It has the following reasons: (a) A government company has all the power to make adjustments in the rules and regulations. It can change the rules regarding managerial actions and decision-making processes. (b) No interference by external forces or by the department concerned in its operations. (c) It enjoys the benefit of separate entity. (d) Goods and services are provided at reasonable rates ensuring there is no monopoly in pricing.

How does the government maintain a regional balance in the country?

The following are the ways in which the Government of India has employed to maintain regional balance in the country. (a) Generating Employment Space : By setting up steels plants and many other enterprises in rural areas, the government has provided the rural population with employment moments. It helps them earn livelihood income and a better standard of living. (b) Setting up steel industries in rural areas : The Government of India has established various major steel plants in rural areas. The basic motive behind this move was to facilitate the economic development and growth of rural and backward areas. (c) Opening development through linkages : The setting up of the industries contributed to the development of various forward and backward linkages. It is also providing employment opportunities. These linkages encouraged the agricultural sector. This in turn spurred the development of ancillary industries (d) Ensuring Base development : The establishment of industries in rural and backward areas promoted Base development. This led to further growth via roads, railways and bridges. The base made the backward areas well connected with the rest of the country, aiding the growth and development of these areas.

State the meaning of public private partnership.

A public-private partnership is a partnership between a government body or public authority and another such body or a non-profit business. It happens to provide services and/or facilities. It works with the goal of transferring technical skills and expertise within global development projects. In a PPP, the public partner may include government entities, Like ministries, government departments, etc. The private partner may include local or foreign businesses or investors with relevant technical or financial expertise.

Describe the industrial policy 1991, towards the public sector?

The following are the major points that describe the industrial policy of 1991. (a) Fall in the number of industries reserved for the public sector. Number of industries reserved for the public sector 17 in 1956 and 8 in 1991. From the above, it can be seen that the number of industries reserved for the public sector fell from 17 in 1956 to eight in 1991. This implies that in 1991, there were more industries in which the private sector could play a role, compared with 1956. In this way, the industrial policy of 1991 aimed at (i) increasing competition (as the public sector had to compete with the private sector) (ii) enhancing the efficiency of public sector enterprises (PSEs), by facilitating stiff competition from the private sector. (b) Disinvestment of shares of the selected public sector enterprises (PSEs): For disinvestment from PSEs, the government reduced its stakes in these enterprises and aimed at encouraging greater participation of the private sector and the general public in industrial sectors. The following were the main rationale behind disinvestment. (i) Divert resources to social priority areas: By disinvesting from PSEs (the less important ones), the government aimed at diverting funds from the less important PSEs to social priority areas, such as health and education, for improving the people’s welfare. (ii) Transfer risk: Often, the funds allocated to PSEs had not been optimally utilised. This misutilisation of funds, together with bureaucratic corruption, led PSEs to incur heavy losses, which exerted an acute financial burden on the government. Therefore, by disinvesting from PSEs, the government aimed at shifting this commercial risk to the private sector, which would invest their funds only in feasible projects. (iii) Reduce public debt: As the government did not have to allocate funds to PSEs where disinvestment had taken place, the need for incurring fresh public debts was reduced. (iv) Introduction of corporate governance: Disinvestment helped the government to reduce its role in PSEs and encouraged the introduction of corporate governance. This made these enterprises work in a more disciplined and professional manner. (c) Policies for sick PSEs: The Board of Industrial and Financial Reconstruction was assigned the task to evaluate the sick PSEs and decide whether they could be revived or should be shut down. The decision to shut down sick PSEs freed the government from intense financial pressure, as it no longer needed to financially support these units. (d) Memorandum of Understanding (MoU): Under an MoU with sick PSEs, their managements were given greater freedom to operate and achieve specified targets. This led to the PSEs operating freely and efficiently.

What was the role of the public sector industries before 1991?

The public sector had a major role in the development of industries in India during the period of initial years of economic planning. The following points highlight the role of the public sector in industrial development in the pre-1991 period.

• (a) Infrastructure development : Infrastructure facilities such as communication, transport, energy supply and banking are the basic requirement for industrial development. But infrastructure requires heavy initial capital investment and long gestation periods to recover returns on such investment. The private sector had a shortfall and only the public sector could mobilise the huge amount of investment required. Hence, this sector was assigned the role of developing infrastructure.
• (b) Maintaining regional balance : During the early development period, India faced hurdles in equal development. Some regions were comparatively much better developed than other regions leading to regional disparities which impacted the nation’s growth and development. Public sector enterprises (PSEs) were set up in backward and rural areas to create equality and narrow the regional differences. These PSEs not only provided employment but also supported industrial development in these areas.
• (c) Economies of scale : Large-scale industries, such as natural gas and petroleum, enjoy economies of scale. In the development phase, the private sector was not big enough to operate these large-scale industries because they required huge capital investments and operating on a small-scale was not a feasible option as this would have caused losses. Hence, the public sector was required to start and operate these industries.
• (d) Import substitution and exports : Attaining self-sufficiency was one of the important objectives of India’s economic planning and the main aim was to restrict imports and at the same time maximise exports. PSE’s were established with the motive restricting imports by manufacturing heavy machinery and engineering goods domestically.

Can the public sector companies compete with the private sector in terms of profit and efficiency? Give reasons for your answer.

No, the public sector companies cannot compete with the private sector in terms of profit and efficiency because the private sector is usually focused towards being more efficient and the main purpose/aim of private sector is earning more profit. The following points make the argument clear:

• Profit motive: Profit is the core objective of private sector industries. Private companies choose various combinations of capital, labour and other inputs that minimise the business costs and maximise profit. Further, these companies have various research and development centres which come up with new technologies to keep up with the market competition. In the case of the public sector, profit is not the only important objective. Public sector is focused on welfare of the society and its citizens by producing and supplying goods and services at reasonable rates.
• Efficiency: An organisation automatically becomes more efficient when it profit driven and goal oriented. Optimum amount of inputs at low costs to produce a given amount of output also gives added advantage. Private sector industries have to compete with the market, therefore they need to ensure quick decision making. In public sector industries, on the other hand, the decision-making process is slow and rigid. This is because of the hierarchy and numerous procedures that employees have to follow, which slow down decision making and affect the overall efficiency of the industries. Moreover, public sector industries are slower to adopt new and efficient technologies, and consequently, they lag behind private sector industries.

Why are global enterprises considered superior to other business organisations?

Multinational corporations (MNCs) are operational in more than one country and have a huge industrial base. MNC’s are backed up by large investments, wide variety of products and use of advanced technologies. They rely on best marketing strategies and expert decision making. All the above resources help MNC’s to capture a bigger share of market compared with other enterprises. The following features make MNCs superior to other business organisations.

• Huge capital resources : MNC’s have huge resources as they accumulate capital from all over the world. As they have goodwill, they can also borrow from international banks and from a large number of investors who are willing to invest in them for huge returns. These investments help them buy everything it requires for growth.
• Foreign collaborations : MNC’s are generally backed up by local private companies. They enjoy certain leisure in the market and get support from brand image of the Indian company.
• Advanced technology : These companies have huge investments in research and development of technology to keep themselves ahead in the market. New technology helps them to increase their efficiency and capture more customers, maintaining superior position in the market. Technology also gives the MNC’s an upper hand in acquiring new customer base.
• Product innovation : Multinational corporations have separate refined research and development centres for the innovation of new products along with top development personnel. They are not shy of spending money on research and it helps them to sustain in the market and retain their large consumer base

What are the benefits of entering into a joint venture?

A joint venture is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance. Organisations come together for mutual benefits and gains. Business organisations in a joint venture share not only the physical, financial and human resources available but also the risks and profits of the business. The following are some of the benefits for a company entering into a joint venture.

• Increased resources and capacity : In a joint venture, the resources and operational capacities are almost doubled as two organisations work in tandem by pooling all the resources. A joint venture is able to expand and grow better than an individual business enterprise.
• Access to new markets and distribution networks : Entering into a joint venture opens up expansion opportunities with a new customer base and new regional market. New distribution network provides new suppliers with better credit terms and refined raw material.
• Access to technology : Through a joint venture, a company can acquire new and modern technology more easily with less investment and less time and effort compared with the technology that individual enterprises may be able to acquire working independently.
• Innovation : A joint venture gives access to sharing of new ideas and technology which help in the innovation of new products and cost effectiveness. These new product is able to gain edge in the market, enabling businesses to sustain in today’s complex and competitive market.
• Low cost of production : Costs effectiveness is achieved with better access to raw material and cheap labour which is low in India compared to other countries. Thus, international corporations that enter into joint ventures with Indian companies reap huge benefits.

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CBSE Sample Papers Class 11 Business Studies 2023-24

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CBSE Sample Question Paper for class 11 Business Studies – in PDF

CBSE Sample Papers 2024 of class 11 Business Studies have some changes this year. CBSE has updated the new marking scheme and blueprint for Class 11 Business Studies for the session 2023-24. We are also providing Business Studies sample papers for Class 11 CBSE exams on myCBSEguide app and website in PDF format. Although the business studies question paper has no numerical yet you will find lots of case study-based questions. So, knowledge of practical aspects is equally important in class 11th Business Studies.

Download Business Studies Sample Papers as PDF

CBSE Sample Papers Class 11 Business Studies 2024

Our mobile app myCBSEguide provides CBSE Class 11 Sample Papers of Business Studies for the academic session 2023-24 with solutions in PDF format for free download. As we know, the examination pattern is updated this year. CBSE will ask not only objective questions but there will be subjective questions as well. So, Students have to put some extra effort into their studies. Especially Business Studies is a very dynamic subject. It needs special attention to solve real-life situation-based questions.

Marking Scheme for the Class 11 exam

If you have gone through the new format of the examination, you may have noticed that the class 11 marking scheme has also changed. CBSE has added a good amount of objective questions to the examination. Especially, CBSE has introduced competency-based questions this year. Such questions have both objective and subjective types of questions. We recommend students download class 11 Business Studied model question papers from the myCBSEguide app or from the CBSE official website and practice them.

Class 11 – Business Studies Sample Paper (2023-24)

Maximum Marks: 80 Time Allowed: : 3 hours

General Instructions:

• This question paper contains 34 questions.
• Marks are indicated against each question.
• Answers should be brief and to the point.
• Answers to the questions carrying 3 marks may be from 50 to 75 words.
• Answers to the questions carrying 4 marks may be about 150 words.
• Answers to the questions carrying 6 marks may be about 200 words.
• Attempt all parts of the questions together.
• When two or more firms come together to create a new business entity that is legally separate and distinct from its parents it is known as ________. It brings in people with different cultures to work together. It also gives access to better resources like specialized staff and technology. a) contract manufacturing b) franchising c) joint ventures d) licensing
• Expand KVIC a) King of Village Investment Culture b) Khadi and Village Industries Commission c) Khadi and Village Industries Core d) King of Village Industries Commission
• Funding for Departmental Undertakings comes from which of the following sources: a) Debentures b) Shares c) Government Treasury d) Loans from Financial Institutions
• Which of the following is the advantage of Mall? a) Attract a large number of customers b) All of these c) Wide choice d) Convenience in shopping
• Which of the following is part of Village and Small Industries Sector? a) Handlooms b) All of these c) Sericulture d) Handicrafts
• Which of the following is a limitation of e-business? a) Low personal touch b) Ethical fallouts c) Risk d) All of these
• The District Industries Centers Programme was launched on: a) September 1, 1978 b) July 1, 1978 c) May 1, 1978 d) 15 August 1978
• Interest paid on debentures is tax-deductible.
• Debentures do not carry voting rights.
• It preferred by investors who want fixed income at lesser risk.
• Issue of debentures dilutes the control of equity shareholders on management.
• Assertion (A):  Sole proprietorship is the least regulated form of business. Reason (R): There are minimal legal formalities and it is easy to start and close the sole proprietorship business as per the wish of the owner. a) Both A and R are true and R is the correct explanation of A. b) Both A and R are true but R is not the correct explanation of A. c) A is true but R is false. d) A is false but R is true.
• To sell ready-made garments for children, men, women, etc. is the example of: a) General Store b) Single-line shop c) Departmental Store d) Single-product shop
• ________ are agents who merely bring the buyer and the seller into contact. a) Commission agent b) Broker c) Stockist d) Selling agent
• Preliminary Contracts are signed a) After incorporation but before commencement of business b) After incorporation but before capital subscription c) After commencement of business d) Before the incorporation
• Which of the following are small industries? a) More labour intensive and less capital intensive. b) Less labour intensive and less capital intensive. c) More labour intensive and more capital intensive. d) Less labour intensive and more capital intensive.
• Social interests and business interests are ________. a) Contradictory b) Complementary c) Counteractive d) Conflicting

Assertion (A): The contract of fire insurance is a contract of strict indemnity. Reason (R): A person should not be allowed to gain by insurance.

• The investment limit of SSI does not exceed a) ₹10 crore b) ₹3 crore c) Above ₹25 lakh and upto ₹5 crore d) ₹2 crore
• Which industries include activities concerned with the extraction and production of natural resources and reproduction and development of living organisms? a) Tertiary b) Primary c) Secondary d) None of these
• What do you mean by an entrepreneur ? a) Job-hunter b) Job-seeker c) Job creator d) Job-applicant
• Statutory corporations are ________. a) none of these b) sole proprietorship c) private enterprises d) public enterprises
• How does market information provided by wholesalers benefit the manufacturers?
• Identify the type of retail selling where goods are supplied to the customers without the help of middlemen and without customers undertaking journeys to the retailer.
• Enlist any three merits of such retail business.
• What are auxiliaries to trade?
• Identify the different auxiliaries to trade that are being used by Harshit in his business by quoting lines from the paragraph.

Karan is running a grocery shop in the nearby local market whereas his friend Priyanshu works as a finance manager in a reputed IT company. In the context of the above case:

• Identify the different types of economic activities both the friends are engaged in.
• Distinguish between the two different types of economic activities as identified in part (i) of the question (any two points).
• How is the mode of business that Esha intends to adopt different from the one that her father has been following over the years?
• Distinguish between the two different modes of business as identified in part (a) of the question by giving any four points.
• Name and state the type of enterprise referred to in the above para.
• State its three features.
• Business has to safeguard not only the interests of the parties but the interests of several other parties also. The other parties are the employees, consumers, supplies, competitors/rivals, government, community and the world. Today, only that business is regarded as good which along with the interests of the owner takes care of the interests of all these parties also. Which concept of business has been talked about in this statement? Identify that concept and state its meaning.
• Discuss the various characteristics or features of Entrepreneurship.
• Why is approval from SEBI considered necessary?
• Who are underwriters? Is their appointment necessary whenever a public company wishes to raise the required funds from the public by means of an issue of shares and debentures?

Jagat is running a grocery store under the name ‘Morning Needs’ in a local market. He takes all decisions about business himself, without any interference from others and also earns a direct reward for his risk-bearing. In the context of the above case:

• Identify and define the form of business organization in which Jagat has promoted his business.
• State any four features of this form of business organization.
• Describe in brief the features of equity shares.
• Identify the feature of services being discussed above.
• Explain briefly three other features of services.

Class 11 – Business Studies Sample Paper  Solution

• (c) joint ventures Explanation: A joint venture is a commercial enterprise undertaken jointly by two or more parties which otherwise retain their distinct identities.
• (b) Khadi and Village Industries Commission Explanation: The various policies, programmes and schemes related to agro and rural industries are implemented by the ministry through the Khadi and Village Industries Commission (KVIC), Handicrafts Board, Coir Board, Silk Board, etc.
• (c) Government Treasury Explanation: The funding of these enterprises come directly from the Government Treasury and are an annual appropriation from the budget of the government.
• (b) All of these Explanation: With the coming of Malls, the consumers get a wide variety to chose from. The customers get a variety of brands under one roof which makes it convenient for them to shop.
• (b) All of these Explanation: The village and small industries (VSI) sector consist broadly of traditional industries (viz. handlooms, khadi, and village industries, sericulture, handicrafts, and coir) and modern small scale industries including ‘tiny’ units and power loom. To practice more questions & prepare well for exams, download myCBSEguide App . It provides complete study material for CBSE, NCERT, JEE (main), NEET-UG and NDA exams. Teachers can use Examin8 App to create similar papers with their own name and logo.
• Low personal touch
• Ethical fallouts
• (b) Government Explanation: Government
• (c) May 1, 1978 Explanation: The District Industries Centers Programme was launched on May 1, 1978, with a view to providing an integrated administrative framework at the district level.
• (c) Only D Explanation: Debenture holders are a debt of the company and are not allowed to take their own decisions in the company.
• (a) Both A and R are true and R is the correct explanation of A. Explanation: A sole proprietorship business has minimum legal restrictions and formalities. Its life depends upon the life and wish of the sole proprietor. Therefore it is the least regulated form of business.
• (b) Single-line shop Explanation: This is an example of Single-line shop.
• (b) Broker Explanation: Brokers are agents who merely bring the buyer and the seller into contact. They execute the orders as per the buyer without physically involving the buyer in the transaction.
• (d) Before the incorporation Explanation: Before the incorporation
• (a) More labour intensive and less capital intensive. Explanation: Small scale industries employed more labour and less capital .
• (b) Complementary Explanation: Complementary, because both are linked to each other.
• (a) Both A and R are true and R is the correct explanation of A. Explanation: The purpose behind strict indemnity in case of fire insurance is that a person should not be allowed to gain by insurance.
• (c) Above ₹25 lakh and upto ₹5 crore Explanation: Above ₹25 lakh and upto ₹5 crore
• (b) Primary Explanation: Primary industries are those industries that get raw material from nature.
• (c) Job creator Explanation: An entrepreneur is a Job creator and not a job seeker or hunter.
• (d) public enterprises Explanation: Statutory corporations are public enterprises brought into existence by a special act of the parliament.
• United Nations Conference on Trade and Development ( UNCTAD ): UNCTAD that comes into being in 1964 is the international institution shaping international trade. The widening trade gap between developed and developing countries. The general dis-satisfaction of developing countries with the GATT and the need for international economic cooperation led to the setting up of UNCTAD. Few basic functions of UNCTAD are: (i) To promote international trade with a view to accelerating economic development. (ii) To formulate principles and policies on international trade and related problems of economic development.
• MIGA : The Multinational Investment Guarantee Agency was established in April 1988 to supplement the functions of the World Bank and International Finance Corporation. Few objectives of MIGA are : (i) To encourage the flow of direct foreign investment into the less developed member countries. (ii) To provide insurance cover to investors against political risks. (iii) To provide promotional and advisory services. (iv) To establish creditability.
• Production of goods and services
• Distribution of goods
• A wholesaler provides almost all the relevant information regarding the preferences and expectations of the customers to the manufacturer. He also collects information regarding the products of the competitor, price of his product, promotional schemes running by competitor for increasing the sale of his product etc. Wholesalers make suggestions about the type and quality of goods required by the consumers, and he also gives an rough idea regarding the future expected demand of the product. Such information helps the producer to regulate production according to the changing requirement of the consumer.

Equity shares are the main source of finance of a firm. It gives the right to the holders to claim dividend on the surplus profits of the company. The rate of dividend on the equity capital is determined by the management of the company. Features:

• Equity shares are transferable in nature. They can be transferred from one person to another with or without consideration.
• Equity shareholders are the actual owners of the company and they bear the highest risk.
• This is mail-order business which is also known as shopping by post.
• Elimination of middlemen which results in lots of savings for both buyers and sellers.
• It does not require heavy expenditure on building and other infrastructure. Therefore, it can be started with limited capital.
• Since the mail order business does not extend credit facilities to the customers, there is no risk of bad debts to them.
• There is no direct contact between parties so it is through advertisement which saves time.

Both the expectations of the people can be fulfilled only by a wholesale trader. Therefore, it is clear that Bindu and Rekha are doing wholesale trade. A wholesale trader can do both the desired services in the following manner:

• Control on Market Fluctuations: A wholesaler controls huge fluctuations in the market by stocking goods. Therefore, the prices remain under control. This directly benefits consumers.
• Easy Availability of Goods: The presence of the wholesaler makes it easy for a retailer to get the goods according to the taste of the consumers at any time. Consequently, all things are readily available to consumers. In the absence of the wholesaler, the retailers cannot perform this job easily.
• Auxiliaries to Trade – It implies activities required to facilitate the purchase and sale of goods i.e. are meant for assisting trade.
• Transport as he procures different kinds of products from all over the country through railways, roadways, and airways.
• Warehousing as he owns a godown to hold the stocks.
• Insurance as he has taken an insurance policy worth Rs. 10 crores for his business.
• Banking and Finance as he has taken a loan of Rs. 2,00,000 from ICICI Bank in order to meet short term financial needs of his business.
• Advertising as he has placed information about his store on the hoardings, billboards, etc. in order to popularize them.
• The different types of economic activities both the friends are engaged in are: Karan is doing Business whereas the occupation of Priyanshu is Employment.
• Esha intends to start e-business, whereas her father is following the traditional business.
• Public Private Partnership (PPP) Public-Private Partnership means an enterprise in which a project or service is financed and operated through a partnership of Government and Private enterprises.
• PPP is suitable for big projects whose gestation period is very long.
• The purpose of PPP is to combine the skills, resources, expertise and experience of both the public and private sectors to deliver a better quality of services.
• In PPP both government and private enterprises share the revenue in the agreed ratio.
• Responsibility towards the shareholders or owners
• Responsibility towards the workers
• Responsibility towards the consumers
• Responsibility towards the government and community
• Ability to take Risks:  This is the first and foremost trait of entrepreneurship. Starting any business involves a considerable amount of risk of failure. Therefore, the courage and capacity to take the said risk are essential for an entrepreneur.
• Innovation:  In a world, where almost everything has been done, innovation is a priceless gift to have. Innovation basically means generating a new idea with which you can start a business and achieve a substantial amount of profits. Innovation can be in the form of a product, i.e., launching a product that no one is selling in the market. It can also be in the form of a process, i.e., doing the same work in a more efficient and economical way.
• Visionary:  Every entrepreneur needs to be a visionary. Without a vision for the future of his venture, he or she would just be working aimlessly without reaching any point of success.
• Leadership:  An entrepreneur has a vision. However, it takes a lot of resources to turn that vision into reality. One of these resources is the people that the entrepreneur hires to perform various functions like production, supplying, accounting, etc.
• ​​ Trade Enquiry:-  The first stage in an import transaction is to conduct enquiry and collect information about Canada which can export the required goods and then the exporter sends a reply in the form of a quotation called proforma invoice.
• Procurement of Import License:- We will consult the Export-Import (EXIM) policy in force to know whether the textile machinery imports are subject to import licensing. In case it can be imported only against the licence, we will procure an import licence.
• Obtaining Foreign Exchange:- As payment for imports will be made in Canadian dollars, our firm will have to make an application to a bank authorized by RBI to issue a foreign exchange.
• Placing Order:-  After obtaining the import license, our firm will place an import order or indent with the exporter for the supply of the specified products. This order is known as indent.
• Obtaining a Letter of Credit:- If the payment terms agreed between us and the overseas supplier then our firm should obtain the letter of credit from its bank and forward it to the overseas supplier.
• Arranging for Finance:- Our firm would make arrangements in advance to pay to the exporter on arrival of goods at the port.
• Receipt of Shipment Advice:- After loading the ordered textile machinery on the vessel, the overseas supplier will dispatch the shipment advice to our firm which contains information about the shipment of goods.
• Retirement of Import Documents:- After shipping the machinery, the overseas supplier will prepare a set of necessary documents including bill of exchange, commercial invoice.
• Arrival of Goods:-  The officer in charge at the dock will provide the document called import general manifest on the basis of which unloading of cargo will take place.
• Customs Clearance and Release of Goods:- Textile machinery imported into India will have to pass through customs clearance.

In order to promote foreign trade, the Government has set up the following institutions:

• Indian Institute of Foreign Trade (IIFT): Established in 1963 under the Societies Registration Act, the IIFT is an autonomous body responsible for the management of the country’s foreign trade. It is also a deemed university that provides training in international trade, conducts research in areas of international business.
• Export Inspection Council (EIC) : The EIC was established by the Government of India under Section 3 of the Export Quality Control and Inspection Act, 1963, with the objective of promoting exports through quality control and pre-shipment inspections.
• Indian Institute of Packaging (IIP) : The IIP is a training and research institute established in 1966 by the joint efforts of the Ministry of Commerce of the Government of lndia, Indian Packaging Industry and Allied Industries. The institute caters to the packaging needs of domestic manufacturers and exporters.
• Indian Trade Promotion Organisation(ITPO):  The ITPO was formed on January 1, 1992, under the Companies Act, 1956. Its main objective is to maintain close interactions among traders, industry and the government.
• Department of Commerce : The Department of Commerce is the apex body in the Ministry of Commerce of the Government of India and is responsible for formulating policies related to foreign trade as well as evolving import and export policies for the country.
• State Trading Organisation: State Trading Organisation (STC) was established in May 1956. The main purpose of STC is to promote trade, primarily export trade among different trading partners of the globe.
• Export Promotion Councils (EPCs):  Export Promotion Councils are non-profit institutions register under the Companies Act or the Societies Registration Act. The fundamental objective of the export promotion councils is to market and produce the nation’s exports of particular products falling under their jurisdiction.
• SEBI (Securities and Exchange Board of India) is the regulatory authority in India and has issued guidelines for the disclosure of information and investor protection. Therefore, any company who wishes to invite funds from the general public must make adequate disclosure of all relevant information and must not conceal any material information from the potential investors.
• In case a company is not reasonably assured of a good public response to the issue, it may appoint underwriters to the issue. Underwriters undertake to buy the shares if these are not subscribed by the public. They receive a commission for underwriting the issue. Appointment of underwriters is not necessary whenever a public company wishes to raise the required funds from the public by means of the issue of shares and debentures.
• Jagat has promoted his business organization in the form of Sole proprietorship. A sole proprietorship form of business organisation which is owned, managed and controlled by an individual who is the recipient of all profits and bearer of all risks.
• Ease of formation and closure: A sole proprietorship form of business organisation is not covered by a separate law. As a result, it is easy to form or close down it with minimum formalities.
• Unlimited liability: The liability of a sole proprietor is unlimited because in the eyes of the law the owner and his business are one and the same. Therefore, the personal assets of the sole proprietor may be utilised to settle the claims of the creditors if the business assets are insufficient to meet the debts.
• Sole risk bearer and profit recipient: A sole proprietor is not expected to share the gains of his business with anyone and remains the sole recipient of it and also the risk of failure of a business is borne all alone by him.
• Lack of business continuity: Since a sole proprietorship business doesn’t have a separate legal entity the death, insolvency or insanity of the sole proprietor may adversely affect the business and lead to its closure.
• Voting Rights: They have voting rights and hence they are the owners of the business.
• Participation in Management: Using their voting rights, equity shareholders get a right to participate in the company’s management.
• Return: These shareholders do not get a fixed dividend. They get according to the earnings of the company. They receive what is left after all other claims on the company’s income and assets have been settled.
• Risk: They enjoy the reward and also bear the risk of ownership. Therefore, it is also called risk capital.
• Permanent Capital: Equity capital serves as permanent capital as it is to be repaid only at the time of liquidation of a company.
• No charge on assets of the company: Funds can be raised through equity issues without creating any charge on the assets of a company. The assets of a company are, therefore, free to be mortgaged for the purpose of borrowings, if the need be.
• More Costly: The cost of equity shares is generally more as compared to the cost of raising funds through other sources.
• The feature of services being discussed above is ‘Inconsistency’. It means unlike goods, services are not standardised. It may differ from individual to individual and is based on consumer demands and expectations. Moreover, the quality of services may also vary depending upon the approach of the service providers. The efficiency of a dedicated and committed service provider will be more.
• Intangibility: Like goodwill of a business, services are intangible in nature. They cannot be touched. Since they are purely experiential is nature the quality of services cannot be determined before consumption. Therefore, it is essential that the service providers work deliberately towards creating desired services in order to ensure that the consumer undergoes a favourable experience. For example, watching a movie should be a pleasant experience for the audience.
• Inseparability: The presence of the customer is required and his/her interaction with the process of providing services has to be managed. It is the simultaneous activity of production and consumption, thereby making both of them inseparable.
• Inventory: Unlike goods, services cannot be produced and stored beforehand. The services have to be performed as and when a consumer asks for it. Services are perishable therefore, the marketers may keep an inventory of the related goods but not the services itself. For example, a beauty salon may only keep a ready stock of accessories like a comb, water dispenser, hairdryer, scissors, etc. which are needed to provide a haircut service to a client, but the service itself cannot be stored.

CBSE Sample Papers for Class 11 2023-24

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• Computer Science
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• English Core
• Hindi Elective
• Political Science
• Physical Education
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To download sample papers for class 11 Physics, Chemistry, Biology, History, Political Science, Economics, Geography, Computer Science, Home Science, Accountancy, Business Studies and Home Science; do check the myCBSEguide app or website. myCBSEguide provides sample papers with solutions, test papers for chapter-wise practice, NCERT solutions, NCERT Exemplar solutions, quick revision notes for ready reference, CBSE guess papers and CBSE important question papers. Sample Papers all are made available through the best app for CBSE students and the myCBSEguide website.

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• CBSE Class 11 Business Studies Chapter 3 – Private, Public and Global Enterprises Class 11 Notes

Private, Public and Global Enterprises Class 11 Revision Notes

In this chapter, we will discuss private, public and global enterprises class 11 notes. In the beginning, we will study the division of the economy into two different sectors, namely, Public and private. Then, we will study the three forms which a public enterprise can take. Thus, we will study about Departmental Undertakings, Statutory Corporations and Government Company.  Also, we will be studying the features, merits and limitations of each of the three. Moreover, we will discuss the changing role of the public sector.

Then, we will study about Global Enterprises and its various features. Furthermore, we will study the meaning as well as the formation of joint ventures. Moreover, we will be able to know the benefits of entering into a joint venture.

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Sub-Topics Covered Under Private, Public and Global Enterprises :

• Types of Companies and Forms of Organising Public Sector : Here, we will study the different types of companies. Also, we will learn the three forms a public enterprise can take.
• Departmental Undertakings : Here, we will study the features, merits, and limitations of the departmental form of organization.
• Statutory Corporations : Under this subtopic, we will gain knowledge about the features, merits, and limitations of statutory companies.
• Government Company : In this, we will learn how features of Government Companies are different from other forms. Also, we will be discussing the merits and limitations of the same.
• Changing Role of Public Sector : Here, we will study how the role of the public sector is redefined. Also, we will view that it competes actively now with private sector companies.
• Joint Ventures :  In this subtopic, we will study about the meaning as well as the formation of joint ventures. Moreover, we will be able to know the benefits of entering into a joint venture.
• Global Enterprises : We will study about MNC’s here. Furthermore, we will learn about the various features of Global Enterprises.

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CBSE Class 11 Business Studies Revision Notes

• CBSE Class 11 Business Studies Chapter 4 – Business Services Class 11 Notes
• CBSE Class 11 Business Studies Chapter 11 – International Business Class 11 Notes
• CBSE Class 11 Business Studies Chapter 10 – Internal Trade Class 11 Notes
• CBSE Class 11 Business Studies Chapter 9 – Small Business Class 11 Notes
• CBSE Class 11 Business Studies Chapter 8 – Sources of Business Class 11 Notes
• CBSE Class 11 Business Studies Chapter 7 – Formation of a Company Class 11 Notes
• CBSE Class 11 Business Studies Chapter 6 – Social Responsibilities of Business and Business Ethics Class 11 Notes

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• Important Questions for CBSE Class 11 Business Studies (2023-24)

CBSE Class 11 Business Studies Important Questions - Free PDF Download

Class 11 is the introduction of higher secondary education for the students. For commerce students, business study is an essential subject. They should read this subject sincerely for better higher education. Class 11 business studies syllabus contains vital topics. The students should read the syllabus including important questions for class 11 business studies. The chapter wise important questions are essential exam preparation tools, which will help in scoring good marks. In Class 11 , students are introduced to the commerce subjects, which they will have to study in their higher academic life.

Class 11 Business Studies comprises eleven chapters that cover important topics. These topics need the highest attention from the students to prepare. To assess their preparation level, they can download and solve the Class 11 Business Studies term 2 Important Questions with Solutions developed by the subject experts of Vedantu. Find the solutions to these questions and take a step ahead in your preparation.

CBSE Class 11 Business Studies Chapter-wise Important Questions 2023-24

Chapterwise important questions for cbse class 11 business studies.

Class 11 Business Studies Syllabus

Central Board of Secondary Education (CBSE) has included business studies as a vital subject in the class 11 commerce curriculum. The syllabus of business studies includes introductory chapters of some vital topics. The students will get primary knowledge about some vital topics of business studies. The entire syllabus of business studies is divided into part A and part B. Part A is about business foundation knowledge, which contains 6 different units. Part B is about trading and financial knowledge contains 4 units. Each part of the syllabus carries equal division for the exam. The students should read both parts with equal sincerity. They should learn all the topics thoroughly for future convenience and good marks in the final exam. To score well in the exam, they should practice class 11 business studies important questions after completing the entire syllabus.

Class 11 Business Studies Part A

The first part of class 11 business studies includes 6 units about the foundation of the business. The units of part A are Business Evolution and Fundamentals, Different forms of Business Organizations, private, public and multinational business companies, service of business, Business emerging Modes, Business Ethics and Social Responsibility in Business. Here, we have discussed the units briefly.

1. Unit 1: Business Evolution And Fundamentals

The first unit has 8 chapters, which are commerce and trading history of India, definition, and characteristic of business, Profession and Employment concept of Business, Business Objective, Business Activity classification (commerce and industry), Industry Types in Business, the meaning of commerce-trade, Risk concept of Business. All these chapters are important for knowing the subject primarily.

2. Unit 2: Different Forms of Business Organizations

This unit contains 6 chapters about business organization. The chapters are the concept of a sole proprietorship, the concept of partnership, the concept of partnership, the concept of Hindu Undivided Family Business, concept of cooperative society, concept, and classification of company, stages of company Formation.

3. Unit 3: Private, Public, and Multinational Business Companies

The third unit of part business studies class 11 has two chapters. The chapters are the concept and difference of private and public sector, different forms of the public sector. This unit gives an idea of business sector types to the students.

4. Unit 4: Service of Business

This unit includes 3 different chapters about business services. The chapters of this unit are concepts of banking and account types, different forms of banking services and payments, concept and classification of Insurance. All these chapters include primary knowledge of different business services.

5. Unit 5: Business Emerging Modes

This unit has only one chapter about business emerging modes, which is E-business. In this chapter, the concept, features, benefits, and scopes of E-business are described in detail. The students should read this chapter as a vital topic for better knowledge of business studies.

6. Unit 6: Business Ethics And Social Responsibility In Business

The last unit of part A class 11 business studies includes 4 chapters. The chapters are the concept of social responsibility, case of social responsibility, different forms of business responsibility, the role of business in environment protection. The chapters of this unit inform about the ethics and responsibilities of business.

Class 11 Business Studies Part B

The second part of the class 11 business studies syllabus is about trading and financial knowledge business. This part contains four units about trading and financial knowledge. The units are Financial Source of Business, Enterprise, and small business, Internal trading, International Trading. All the units have many chapters. Here, we have discussed the units in a brief.

1. Unit 7: Financial Source of Business

The first unit of class 11 business studies part B has three chapters. The chapters are the concept of Finance in business, the concept of different business materials: owners’ funds, shares, receipts, the concept of borrowed funds. All three chapters give a rough idea of the financial sources and factors of the business.

2. Unit 8: Enterprise and Small Business

This unit has four different chapters about enterprise and small business. The chapters are concept and features of enterprise, classification of enterprise, the role of small business in India, Government schemes for enterprise and small business. The students should read these chapters for deep knowledge in business studies.

3. Unit 9: Internal Trading

This unit includes two chapters, which are the concept of internal trade and the concept of large-scale retailers. The first chapter defines the meaning and features of internal trading. In the second chapter, the students will learn about different stores on a large scale.

4. Unit 10: International Trading

The last unit of class 11 business studies part B has two chapters. In the first chapter, the students will learn the concept, features, and benefits of International Trading. The second chapter is the Definition and Objectives of the World Trade Organization (WTO). Both chapters are important for advancing knowledge in business studies.

Business Studies Class 11 Important Questions Chapter Wise

Class 11 business studies syllabus includes a huge number of chapters separated into different units. The students have to read all the chapters thoroughly to learn the topics correctly. They have to complete the entire syllabus and revise them within an academic year. That is why chapter wise important questions for class 11 business studies during revision. From the chapter wise important questions for class 11 business studies during revision. From the chapter wise important questions, the students will get a chapter insight as well as the question pattern. The chapter wise important questions will make the revision and exam preparation easier. Important questions for class 11 business studies are vital exam preparation tools.

Benefits of Important Questions for Class 11 Business Studies

The benefits of practicing chapter wise important questions are –

The students will get to know the question pattern.

The revision and exam preparation will be easier.

The students will achieve efficiency by practicing the questions repeatedly.

The students can practice the questions considering the time to increase time management capability.

Significance of CBSE Class 11 Business Studies term 2 Important Questions with Solutions

There are a total of 11 chapters in the Class 12 Business Studies syllabus. These chapters are based on important topics such as business, trade, commerce, modes of business, business services, company formation, international business, internal trade, etc.

The syllabus has been divided into two parts for the convenience of the students. To make the preparation of all the chapters on these two parts easier, students complete solving the exercises and then proceed to solve the important questions. These Important Questions for Class 11 Business Studies Board Exam have been framed by the top subject experts of Vedantu to cover the entire syllabus properly.

These questions come with proper solutions framed by the same experts to offer convenience in solving them. These solutions will aid the students to focus on the answering formats and how to use the concepts of this subject in a better way.

Hence, these important questions will enable students to test their preparation level and to find out how to solve fundamental questions to score more in the exams.

Advantages of CBSE Class 11 Business Studies Important Questions with Answers PDF

All 11 chapters have been approached individually to form separate files. These files can be found on the list here to download. Hence, you can add more convenience to your study sessions by accessing these files easily.

Resolve doubts on your own when you have the solutions for all these chapters here. These solutions will come in very handy when any query arises. You can answer those queries instantly and proceed with your preparation.

Focus on how the experts have used the simplest explanation of all the answers in the solutions. Learn from the formats and practice to answer all exam questions within the given time and score more.

Recall all the concepts and principles you have studied in these solutions easily and answer the questions accurately in an exam.

Solved Examples

1. Why is Insurance Known as the Tertiary Industry?

Solution: Insurance is a support service to the primary and secondary services. Tertiary industries are concerned with providing support services. The services are to primary and secondary industries as well as activities relating to trade, which provide service facilities. Therefore, insurance is known as the tertiary industry.

2. Categories the Following into Profession, Business, and Employment: Farmer, Clerk, Advocate, Hawker, Person Working in Repairing Shop, Doctor.

Farmer – Business

Clerk – Employment

Advocate – Profession

Hawker – Business

A person working in repairing shop – Employment

Doctor – Profession

3. Explain the Meaning of Unlimited Liability.

Solution: Unlimited liability refers to the indefinite extent of liability to pay a firm’s obligations, extending beyond the investments of the firm’s owners, partners, or shareholders to their assets. This extent of liability is supposed to be an unlimited liability company, which can be a sole proprietorship or general partnership.

4. A Special Act of Parliament Bought Which Public Sector Form Into Existence?

Solution: Statutory corporations are the special act of the parliament. The act defines its functions and powers, rules and regulations, and its relationship with departments of the government. They have the power of the government and a considerable amount of operating flexibility of private enterprises.

5. Define the Meaning of Banking.

Solution: A banking company is the one transacting the business of banking. It means accepting for investment and lending of deposits of money. The acceptance is from the repayable on demand, or the public, or otherwise and withdrawal by drafts, cheques, order, or otherwise. Basically, a bank accepts money repayable on demand, public, and also earns a profit by lending money.

6. Define Outsourcing.

Solution: Outsourcing is a long-term contracting out of the non-core and of late even some of the core activities. The captive or third-party specialists benefit from their experience, expertise, efficiency, and even investment.

7. Define the One Need for Social Responsibility.

Solution: A socially responsible company can create a company’s image and build its brand. By projecting a positive image, a company can make a name for not only being financially profitable but socially conscious as well.

8. What is the IEC Number?

Solution: ICE number refers to import export code number, which is obtained from the Directorate General Foreign Trade (DGFT) or Regional Import Export Licensing Authority. It is a prerequisite to obtaining an export license.

Download Class 11 Business Studies Important Questions with Answers PDF 2023-24

Get the free PDF versions of these questions for all the chapters. Focus on how you can make your preparation better by practising these questions. Learn to use the solutions and methods provided by the experts to grow your answering skills. Develop your concepts for Class 11 Business Studies and ace all the exams by becoming more confident.

Other CBSE Class 11 Important Questions Links

Important related links for cbse class 11.

FAQs on Important Questions for CBSE Class 11 Business Studies (2023-24)

1. Explain 6 important factors that are to be considered for starting a business.

The 6 important factors that are to be considered for starting any business are as follows.

The Selection of Business Line: Select your business line wisely, that is, ensure the possibility of business growth and profitability when you select the nature and type of business.

The Size of the Business: Depending on the market demand and supply of your business products, select the size of your business. For high demands and fewer risk factors, select a large-scale business, and for high-risk factors select a small-scale business.

Choice of the Ownership Form: The type of ownership of your business depends on the line of business, capital requirements, legal formalities, the liability of owners, etc.

Location of the Business Firm: The location of the business firm depends upon the availability of labourers and raw materials.

Financing the Proposition: Financing the business proposition includes arranging the necessary capital for the business.

Physical Facilities: To start a business, it is important to check for the availability of machines, equipment, and other services.

Plant Layout: The layout of the business details has to be chalked out well in advance.

Competent Workforce: Arranging for a competent workforce is one of the basic necessities for starting a business. The growth of the business depends greatly on the workforce.

Tax Planning: Proper tax planning is necessary for every business, be it large-scale or small-scale.

Launching a Business Firm: With all the above factors taken care of, the business or the enterprise can be launched successfully.

2. What are the types of a service business?

There are three types of service businesses or enterprises, and they are as follows.

Micro Enterprises: The investment in the business equipment is within 10 lac rupees. 

Small Enterprises: The investment in the business equipment is between 10 lacs and 2 crores rupees.

Medium Enterprises: The investment in the business equipment is between 2 and 5 crore rupees.

3. Give two advantages of supermarkets.

The two advantages of supermarkets are as follows.

Sales are all carried out in cash or cards, leaving no chances of debts.

A wider variety of goods are available in the supermarkets, making it more likely for the buyers to end up making a purchase.

4. Are the important questions for CBSE Class 11 Business Studies beneficial for exam preparation?

Yes, the important questions for CBSE Class 11 Business Studies available on Vedantu are highly beneficial for exam preparation. Our in-house team of subject matter experts has curated and prepared these questions and solutions after making a detailed study of the entire syllabus of Class 11 Business Studies. The important questions from each chapter are arranged in a separate PDF file, for the convenience of students. You can download these files for free from Vedantu and refer to them for effective learning. These important questions also make an excellent study material for the Class 11 Business Studies examination. Therefore, download the PDF files and revise all the topics of Class 11 Business Studies by referring to these important questions and answers.

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

When looking for important questions for Class 11 Business Studies, the best place to be at is Vedantu’s e-platform. Students can find accurately chosen and explained questions that are important to prepare before their Class 11 Business Studies exams. The solutions for these questions have been carefully crafted by subject experts at Vedantu. The important questions and their solutions can be downloaded free of cost by students for offline access. You can also easily access them from Vedantu’s website. These solutions are available at free of cost on Vedantu(vedantu.com) and mobile app.

6. What are the chapters covered in Important Questions for Class 11 Business Studies?

Important Questions for CBSE Class 11 Business Studies provided by Vedantu cover the following chapters:

Chapter 1 - Business, Trade and Commerce

Chapter 2 - Forms of Business Organisation

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

7. How many books are there for Class 11 Business Studies?

The Central Board of Secondary Education (CBSE) prescribed only one book for Class 11 Business Studies. This book has been published by NCERT and it is available in both English and Hindi mediums. There are a total of 10 chapters in this book divided into two parts. Part A contains six units that discuss knowledge about the business foundation and part B consists of the remaining four units that talk about financial and trading knowledge.

8. What are the most important chapters in Class 11 Business Studies?

The syllabus for Class 11 Business Studies contains a total of 10 chapters. Out of these, the most important chapters are Chapter 7 - Sources of Business Finance, Chapter 8 - Small Business, Chapter 9 - Internal Trade, and Chapter 10 - International Business. These are considered important since they contain higher weightage than all other chapters in the syllabus. Students can refer to Important Questions for CBSE Class 11 Business Studies for better preparation of these chapters.

9. What is meant by Banking?

As discussed in Class 11 Business Studies, banking is the term given to all activities related to business that involve accepting and safekeeping money owned by other entities for the purpose of lending or investment. The money that is deposited is also repayable on demand or otherwise, and withdrawable by cheque, order, draft, etc. It is an important service facilitating the economy by offering people an opportunity to save.

Important Questions for CBSE Class 11

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CBSE Class 11 Business Studies Revision Notes Chapter 3

Home » CBSE » CBSE Class 11 Business Studies Revision Notes Chapter 3

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CBSE Class 11 Business Studies Revision Notes Chapter 3 – Private, Public and Global Enterprises

Chapter 3 of Class 11 Business Studies discusses the private and public sectors, global enterprises, joint ventures and many more important topics. For a better understanding of the topics of this chapter, students can refer to the Class 11 Business Studies Chapter 3 notes prepared by Extramarks . These notes summarise all the important concepts covered in this chapter in a single place for students’ reference. These will not only help students with their revisions but also with their last-minute preparations and assignments.

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Access Class 11 Business Studies Chapter 3- Private, Public and Global Enterprises Notes

The important topics covered in this chapter have been discussed below.

Public and Private Sector

The Indian economy consists of both private and government-owned businesses. Individuals or groups can own the private sector business. Any state or federal government can own an organisation entirely or partly. The government is responsible for taking care of public sector organisations. The federal or state governments may take over these organisations entirely. 

They could be a part of the ministry or created by a Parliamentary Special Act. The government of India initiated an approach to economic development in the Industrial Policy Resolution of 1948. The Industrial Policy Resolution of 1956 set forth some goals to help achieve to speed up the expansion rate and industrialisation. 

The industrial policy of 1991, as opposed to all the other strategies where the government considered disinvesting in the public sector and allowing independence to the private sector.  

Companies outside India were asked to invest in India. The Indian economy consists of the public sector, private sector and multinational corporations. 

Indian Economy- Public and Private Sector

Public sector                                                                          , departmental undertakings.

• Statutory Corporation
• Government Companies

Private Sector

• Sole Proprietorship
• Partnership
• Joint Hindu Family
• Cooperative
• Multinational Corporations
• Company (public ltd.), (private ltd.

Changing Role of Public Sector

• Development of Infrastructure:  It is a prerequisite for industrialisation. Without transportation, communication, fuel, energy and industries, industrialisation cannot be continued. The government can collect money and coordinate and train workers and technicians. The expansion of rail, sea, road and air transport is necessary to see industrialisation and future growth. 
• Regional Balance: The Indian government oversees development in all states and regions. Special attention is paid to any delays. Four major steel facilities were built to help promote growth and get jobs. 
• Economies of Scale: As large-scale companies require a lot of investment, the government was forced to step in and take advantage of economies of scale. Power, electricity and natural gas were necessary for proper functioning. 
• The concentration of Economic Power: The industrial conglomerates should engage in heavy sectors resulting in wealth. The public sector established industries required a lot of investment for their functioning. 
• Import Substitution: Importing heavy machinery, which is necessary for an industrial basis was challenging. Different engineering firms helped in the substitution process. Different public sector firms like MMTC played a significant role in improving the country’s exports. 
• Government Policy Towards Public Sector Since 1991: The government has implemented reforms in the public sector as a part of a new industrial policy. In 1956, about 17 industries were reserved for the public sector. Three industries – rail, armaments and atomic energy were reserved for the public sector in 2001. The goal was to collect funds and foster public and worker participation in ownership of the businesses. 

The public sector units came under the Board of Industrial and Financial Reconstruction. It helps determine whether a sick unit should be finally built again or closed. In certain cases, the board reassessed the revival and the rehabilitation plans. Performance could be improved using MOU. The public sector units were given targets.  

Global Enterprises

Global enterprises are industrial conglomerates that expand their marketing operations across various nations. MOFA is the other name of these branches. They spread their branches far and across. They help positively grow the economy. 

• Huge Capital Resources: They can raise funds from various sources. There are options to sell stock, debentures, and bonds to the public. They can borrow money from banks and other institutions in the world. 
• Foreign Collaborations: It is possible to enter into agreements with Indian companies for selling of technology, manufacturing, use of brand names for finished products and other things. They work with the government as well as private companies. There are restrictive terms related to technology transfer and Priceline. Collaborations with other countries led to monopolies and concentration of power in a few hands. 
• Advanced Technology: Businesses have a lot of advantages in the manufacturing process. As they can adhere to worldwide norms and specifications, the countries where these operations are advanced. 
• Product Innovation: High research and advancement in technology help invent new products and improve existing ones. Proper research can help in financial investments that only corporations can make. 
• Marketing Strategies: Implementation of marketing strategies help improve sales. The marketing methods help boost sales. They have a niche worldwide, so their brand presence has grown over time. 
• Expansion of Market Territory: The company’s market territory grows daily. This helps to increase brand awareness. They have a monopoly in the market due to their huge size. 
• Centralised Control: The headquarters of the company are located in the home nation. They have control over all branches. The control is limited to the broad policy framework. There is no change in daily operations. 

Joint Ventures

A joint venture is made when two businesses work together to achieve a certain goal. This is done to enjoy profits. The agreement helps stipulate required permissions and licenses will be obtained within a time frame. An MOU needs to be signed by both parties where an outline is mentioned. The gain and loss of the business are also mentioned. Some common examples of joint ventures are AVI of India Pvt Ltd. 

Joint Venture-Types

Equity-based.

• Limited liability partnership

Contractual

• Cooperation Agreement/Strategic Alliances

Equity-Based Joint Venture

• A joint venture agreement is where two parties agree to create a company which the parties jointly own. The business form may, however, vary.

Contractual Joint Venture

• This venture is based on commitment. There is no direct ownership, but the involved parties need little control. 
• The joint venture firm can help increase resources and capabilities, growing and expanding. 
• Once a company forms a joint venture with someone from another country, it gains a huge market.
• The access to latest technology and manufacturing helps in higher quality products to help save time, energy and money. 
• Joint ventures will let businesses come up with new and creative marketing strategies. New ideas and technology can help international partners come up with creative solutions. 
• International companies invest in India because they can enjoy profits due to cheap production costs. They can obtain high-quality products to meet all global needs.
• Each party will gain from another party. 

Public Private Partriershíp

A Public Private Partnership (PPP) collaborates between the public and private entities based on infrastructure and its services.

• Government entities such as ministries, state enterprises and municipalities are public partners in PPP.
• Along with social responsibility, expertise and environmental awareness, the government’s involvement helps in investment and asset transfer, supporting partnership.  
•  Design transfer and construction risk. 
•  The potential to accelerate projects.
• There may be a conflict between parties due to environmental considerations.
• It might not attract private finances.

How does this Class 11 Business Studies Revision Notes Chapter 3 – Private, Public, and Global H3 -Enterprises Help You?

Class 11 Business Studies notes are available at Extramarks. Students can study at their own pace and in their own comfort using these revision notes. These notes are reliable and help students to have a thorough and in-depth explanation of the concepts.

Business Studies Chapter 3 Revision Notes

The revision notes for Business Studies have been formulated by experts, which help students to have a better understanding of the concepts. 

Business Studies Chapter 3 Revision notes 

The Chapter 3 Business Studies Class 11 notes are prepared in a way that it helps students to have a better grasp of the chapter and secure good marks in the exams. The notes of chapter 3 Business Studies Class 11 are made to focus on the fundamental concepts and have an in-depth understanding of all the points and basics. 

Our Revision Notes Cover The Following

The revision notes provided by Extramarks cover all concepts related to private and public sector enterprises. 

Private Sector Enterprises

Individuals or groups of individuals own businesses. The different forms of organisation are partnership, joint, sole proprietorship, cooperative and company. 

Public Sector Enterprises

Those organisations which the central or state government owns are public sector enterprises. The government participates in various economic activities through these enterprises. 

The capital is contributed by the state and central government. The main objective of such enterprises is the welfare of the public. It is possible to manage enterprises by the government. 

Forms of Public Enterprises

Statutory corporations.

These businesses are set up as ministry departments and are regarded as an extension or a part of the ministry. Government employees operate these. Such endeavours might be governed by the federal or the state government, and the federal or state government rules should apply. Some common examples of these are the Railway, Telegraph and Post departments.

Such enterprises are directly funded by the budget of the government of India. It is subjected to accounting and audit controls applicable to other government activities. The enterprise employees are government employees, and their working conditions are very similar to that of other government employees. This department is under the direct control of the ministry. 

• To ensure that the Parliament is effectively controlling the operations. 
• A high degree of public accountability. 
• The enterprise’s revenue will be handed over directly to the treasury. 
• Considering the national security level, this is the best option as it is under the direct supervision of the ministry. 
• Lack of flexibility
• Head of the departments cannot take individual decisions or work without the ministry’s approval.
• The conservative and cautious approval of the bureaucrats prevents any sort of initiative. 
• No action can be taken until and unless the right authority approves. 
• A lot of political involvement is there in the ministry.
• Any sort of consumer requirements is ignored. 

A special act of Parliament creates a statutory form of corporation. These are general public enterprises. The act is meant to establish power and functions and the rules that help govern the personnel and help in interaction with other government agencies. They have the power of the government and some amount of private sector flexibility. 

The statutory corporations are set up under the Parliament and governed by the act’s provisions. A state entirely owns such corporations. The government takes financial responsibility. They have the power to generate the desired profits. These entities can get into contracts and take over legal properties by their name. They work by obtaining funds from the public or government. The provisions themselves govern the service. 

• They have the flexibility and independence in functioning. 
• The government does not control their finances, income or receipt.
• The body created its policies and procedures. 
• They help in economic development. 
• Operational flexibility is impossible.
• Government interferes in the case of huge monetary transactions.
• Corruption is pervasive wherever there is public interaction.
• Advisor accounting to the corporation board limits the ability to enter into contracts or make decisions. 

Government Company

As per section 2(45) of the companies act 2013, a government company is partly or wholly government by the central and state governments. One holds around 51 per cent of the paid-up capital. There are certain restrictions regarding the appointment and retirement of senior management professionals. The company’s shares are issued in the name of India’s president. The government is the majority stakeholder and has authority over the business administration. 

Under the Companies Act of 2013, the government company was formed. A third person can sue the company. It is possible to make real estate purchases by entering a contract. A corporation can make real estate purchases. The company management works as per the regulations. The companies acting like other public limited companies, take care of the management. The government appoints the auditor, and employees are hired based on company rules and regulations. The funds are collected from stakeholders.

• The business operates as per the Indian Companies Act.
• It has its own legal body. 
• It takes management decisions by itself. 
• Companies can control the market and disrupt the goods and services. 
• The government is the sole stakeholder in some enterprises. 
• It avoids the constitutional duty that a government-funded enterprise should have.
• The government is in charge of management and administration. 

In India the public sector was primarily created  to achieve two objectives:

• To boost the economic growth of the country
• To achieve equal distribution of wealth and income among people

The role and importance of the public sector also changed with time, like:

• Development of Infrastructure
• Regional balance
• Economies of scale
• Control of Monopoly and Restrictive Trade Practices
• Import Substitution 

Public Sector Reforms

In the industrial policy of 1991, the government of India launched four major reforms in the public sector:

• Limiting the number of industries reserved for the public sector
• Memorandum of Understanding (MOU)
• Disinvestment
• Restructural and Revival

Multinational Companies/Global Enterprises

A company with its business operations in several countries through its factories, branches or offices in those countries, but headquartered in one country is called a multinational company. For Example, PHILIPS, Coca-Cola, Nestle, Microsoft, etc.

When two or more independent firms join together to form a new enterprise by merging their technology, capital and expertise, this is referred to as a joint venture. For example, Hero Cycle from India and Honda Motors Co. from Japan jointly established Hero Honda. 

Public-private Partnership (PPP):

An enterprise in which a project or a service is financed and operated through a partnership of government and private enterprises.

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FAQs (Frequently Asked Questions)

1. how are class 11 business studies revision notes helpful.

The Class 11 business studies notes of chapter 3 will help in simple learning to help clarify concepts. One can properly understand the concepts and get their basics cleared on every topic.

2. What topics does Class 11 Business Studies chapter 3 contain?

Chapter 3 Business Studies contains public, private companies and other global enterprises. The other topics are the changing role of the public sector, infrastructure development, economies of scale, import substitution, a global enterprise, capital resources, foreign collaboration, marketing strategies, joint ventures, etc. 

3. What are the different organisations under the public sector?

The different organisations are given below:

• Public sector corporations
• Departmental undertakings
• Government company

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MCQs for CBSE Class 11 Business Studies Chapter 3 Private, Public and Global Enterprises: As per latest CBSE Curriculum 2023-2024

Mcqs for cbse class 11 business studies chapter 3: here, you can find mcqs for cbse class 11 business studies chapter 3 private, public and global enterprises. it is also available for free download in pdf.

MCQs for CBSE Class 11 Business Studies Chapter 3: Jagran Josh brings to you MCQs for CBSE Class 11 Business Studies Chapter 3, Private, Public, and Global Enterprises. Students can also find attached a PDF download link for the same. Here, we have also linked some important resources for the preparation of the new academic session 2023-2024. Students are advised to first visit these resources and then start with their academic journey.

• Direct Question Answer Based
• Assertion and Reasoning
• True and False
• Match the following
• Check whether the statements are correct or not
• Case studies based/ Source-based

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

MCQs for CBSE Class 11 Business Studies Chapter 1

MCQs for CBSE Class 11 Business Studies Chapter 2

MCQs for CBSE Class 11 Business Studies Chapter 3 are presented below:

1.The main motive of the Private sector is

(a) Social service

(b) Earning Profit

(c) both a and b

(d) None of the above

Answer. b) Earning Profit

2.Indian economy is a ____________ kind of economy.

(c)Capitalist

(d) Socialist

Answer. b) Mixed

3.An organization is working for the purpose of public welfare as a ministry of government. It is financed by govt. and all its income is deposited in govt. treasury. Identify which kind of public sector enterprise is it.

(a)Partnership

(b) Departmental undertaking

(c) Sole proprietorship

(d) Company

Answer. b) Departmental undertaking

4.An enterprise having huge capital, huge turnover and its branches are spread all over the country. What do we call such kinds of enterprises?

(a) Joint venture

(b) Global enterprise

(c) Large corporation

(d) Huge company.

Answer. b) Global Enterprise

5.Govt. has given autonomy to a PSU to improve its performance but held it accountable for specified results under an agreement. What is this agreement called?

Answer. c) MouU

6.Assertion (A): The Central Government of India has established a department that is considered an extension of the ministry itself.

Reason(R): LIC is an example of such a department. On the basis of the above Assertion and Reason choose the correct answer from the options given below.

(a) Both Assertion and Reason are correct and the Reason is a correct explanation of the Assertion.

(b) Both Assertion and Reason are correct but Reason is not a correct explanation of the Assertion.

(c) The Assertion is correct but the Reason is incorrect.

(d)Both the Assertion and Reason are incorrect.

Answer. c) The Assertion is correct but the Reason is incorrect

7.Post and Telegraph department is part of a government ministry. It is fully managed, controlled and financed by the concerned Ministry. The annual budget of the ministry makes provision for the funds needed by the government. The ministry is answerable to the Parliament for its functioning. What is the legal status of such organizations?

(a) No separate legal entity

(b) Separate legal entity

(c)Both a and b

(d)None of the above

Answer. a) No separate legal entity

8.Which is the oldest and most traditional form of public sector enterprises?

(a) Statutory Corporation

(b) Public Company

(c) Government company

(d) Departmental Undertaking

Answer. d) Departmental Undertaking

9.How powers and objectives of a public corporation defined?

(a) By Companies Act

(b) By Partnership Act

(c) By Special Act

(d) All of the above

Answer. c) By Special Act

10.ONGC is an example of an Indian energy multinational company.

(c) Partly True

(d) Can’t Say

Answer. a) True

11.Where national security is concerned............. is the best form of the organisation.

(a) Private Company

(c) Departmental Undertaking

(d) None of these

Answer. c) Departmental Undertaking

12.Assertion (A): Political interference is a demerit of a government company.

Reason(R): The operational policies of the government companies are formed according to the whims and fancies of the ministers.

(c)The Assertion is correct but Reason is incorrect.

(d) Both the Assertion and Reason are incorrect.

Answer. a) Both Assertion and Reason are correct and the Reason is a correct explanation of the Assertion

13.An enterprise that comes into existence after an act is passed in Parliament is known as

(a) Govt. company

(b) Parliament company

(c) Public corporation

(d) Government Corporation

Answer. c) Public Corporation

14.Assertion (A): Public Sector Enterprises are organizations that are owned by the public.

Reason(R): Public sector enterprises cannot be managed by the government properly.

(c) The Assertion is correct but Reason is incorrect.

Answer. d) Both the Assertion and Reason are incorrect

  15.LIC is an example of

Answer. a) Statutory Corporation

MCQs are quite important for students in higher secondary classes since the question paper format has been updated by the board. According to the new question paper pattern, MCQs will be a part of every subject for both the higher secondary classes. Check the list of MCQs attached here to know about the types of 1-mark questions that can be a part of your question paper.

CBSE Class 11 Syllabus 2023-24 (All Subjects)

CBSE Class 11 Deleted Syllabus 2023-24 (All Subjects)

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