Business studies class XI

CHAPTER 1

BUSINESS, TRADE AND COMMERCE

Worksheet 1

I. Choose the correct answer

1. Support services to industrial/business activities are clubbed under

(a) Commercial industries

(b) Primary industries

(c) Tertiary industries

d) Secondary industries

2. Shenoy sells his play station to his friend at a profit of Rs 6,000. Will it be considered as a

business?

(a) Yes

(b) Can't say

(c) No

(d) 50-50

3. Soaps are included under which type of industry? (a) Analytical industry

(b) Synthetical industry

(c) Processing industry

(d) Assembling industry

4. Find the odd one.

(a) Profit earning

(b) Uncertainty of return

(c) Natural causes

(d) Element of risk

5. Secondary industries include

(a) Manufacturing industries

(b) Construction industries

(c) Tertiary industries

(d) Both (a) and (b)

6. Which one of the following is not an auxiliary to trade?

(a) Mining

(b) Insurance

(c) Warehousing

(d) Transport

7. Which one of the following is an economic activity in which specialised knowledge is

required?

(a) Business

(b) Profession

(c) Employment

(d) None of the above

8. Code of conduct DOES NOT include

(a) Rules

(b) Dishonesty (c) Morality

(d) Integrity

9. Why a business should earn profit?

(a) To provide return to investor

(b) To provide funds for future growth

(c) To increase the reputation of business

(d) All the above

10. The Chinese traders frequently visited Calicut to acquire this item from India.

(a) Cotton

(b) Pepper (c) Diamonds

(d) All of these

 CHAPTER 1

BUSINESS, TRADE AND COMMERCE

Worksheet 2

Fill in the blanks with appropriate words

1. A hundi which is payable to the owner or a holder or bearer owner is called .....................

2. The hundi which is payable to a rich, respectable and responsible person, a man of worth in

the bazaar is known as __

3. ................... and .................. of animals were important components of the economic life

of ancient people.

4. ................were prominent where skilled artisans worked and converted raw materials into

finished goods.

5. During ancient times.................. apprenticeship system was in practice.

6. In the ancient times transport by ...................... and ....................was popular.

7. ...................is the kind of trade which involves the transport of goods through the sea,

using ships.

8. During the Roman Empire ............. was particularly valued and was known as .................

9. On the Coromandel Coast ................. was a major part in the 17th century.

10. Punjabi and Multani merchants handled business in the ............... region, while the Bhats

managed the trade in the states of ................ and ........................

 CHAPTER 1

BUSINESS, TRADE AND COMMERCE

Worksheet 3

State whether the following statements are `True` or `False`.

1. Employment is an economic activity.

2. A business activity may be without a profit motive,

3. A boy helping a blind woman to cross the road is an economic activity:

4. Commerce includes trade and auxiliaries to trade.

5. Risk is an essential element of every business activity,

6. Certain activities are pursued without any objective.

7. Conversion of cotton into cloth is an example of genetic industry,

8. Sale of one's ancestral property will not fit into the description of a business.

9. Trade between two countries is called internal trade.

10. 'Industry' may be classified under five categories.

 CHAPTER 1

BUSINESS, TRADE AND COMMERCE

Worksheet 4

Write the answers for the following.

01. “Regularity of dealings is the basic characteristic of business.” State.

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02. State the role of workshops in promotion of trade during ancient times,

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03. Give four difference between economic and non-economic activities.

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04. What is meant by auxiliaries to trade? Explain any two auxiliaries to trade.

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05. Explain any five characteristics of business.

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06. What is meant by Hundi? State any four types of hundi.

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07. State five major trade centres in ancient India.

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08. Idenify the causes of risk highlighted in the given statements:

(i) Higher interest rates increase the cost of production, reduces the purchasing power of

consumers.

(ii) Taj Hotel in Mumbai had to shut its operations for more than six months due to 26/11

terror attack

(iii) Thousands of businessmen had to suffer heavy losses due to Gujarat earthquake on 26th
January 2001.

(iv) Perishable goods such as ice cream and milk may be spoiled because of break down of

cooling machine or refrigerator.

(v) An increase in excise duty or custom duty on a product may reduce the profit margin of a

business undertaking.

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09. Classify the following industries into various types.

Paper industries, Hunting, Building Tunnels and Canals, Farming, Computer industries.

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