11th Commerce - Book Back Answers - Chapter 2 - English Medium Gudies

 

  

 

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Tamil Nadu Board 11th Standard Commerce - Chapter 2: Book Back Answers and Solutions

    This post covers the book back answers and solutions for Chapter 2 – Commerce from the Tamil Nadu State Board 11th Standard Commerce textbook. These detailed answers have been carefully prepared by our expert teachers at KalviTips.com.

    We have explained each answer in a simple, easy-to-understand format, highlighting important points step by step under the relevant subtopics. Students are advised to read and memorize these subtopics thoroughly. Once you understand the main concepts, you’ll be able to connect other related points with real-life examples and confidently present them in your tests and exams.

    By going through this material, you’ll gain a strong understanding of Commerce  Chapter 2 along with the corresponding book back questions and answers (PDF format).

Question Types Covered:

• 1 Mark Questions: Choose the correct answer, Fill in the blanks, Identify the correct statement, Match the following 
• 2 Mark Questions: Answer briefly 
• 3, 4, and 5 Mark Questions: Answer in detail

All answers are presented in a clear and student-friendly manner, focusing on key points to help you score full marks.

All the best, Class 11 students! Prepare well and aim for top scores. Thank you!

Chapter 2: OBJECTIVES OF BUSINESS

I. Choose the correct answer

1. The Primary objective of a business is

a) Making Profit  

b) Not Making Profit

c) Special skill

d) None of the above

Answer Key:

a. Making Profit

2. Occupation of a Doctor is

a) Employment

b) Business

c) Profession

d) Sole Proprietor

Answer Key:

c) Profession

3. The following does not characterize business activity?

a) Production of goods and services

b) Presence of Risk

c) Sale or exchange of goods and services

d) Salary or wages

Answer Key:

d) Salary or wages

4. Activities undertaken out of love and affection or with social service motive are termed as:

a) Economic activities

b) Monetary activities

c) Non Economic Activities

d) Financial Activities

Answer Key:

c) Non Economic Activities  

 

II. Very Short answer questions

1. What is meant by Economic Activities?

• Economic activities are those activities which are undertaken to earn money or financial gain for  livelihood
•  e.g., Fruit seller selling fruits.

2. What do you mean by Business?

• Business refers to any human activity undertaken on a regular basis with the object to earn profit  through production, distribution, purchase and sale of goods and services. 

3. What do you mean by Employment?

• It refers to the occupation in which people work for others and get remuneration inthe form of  wages or salaries.
• e.g: Managers, Clerks, Bank officials, Factory workers etc. 

III. Short answer questions

1. What do you mean by human activities? Explain.

• Human activity is an activity performed by a human being to meet his/her needs and wants or may be for personal satisfaction.
• Human activities can be categorised into economic and non-economic activities.

             a)Economic Activities                b) Non-Economic Activities

 

 

2. Write a short notes on: a) Business            b) Profession 

a) Business:-

• Business refers to any human activity undertaken on a regular basis with theobject to earn profit  through production, distribution, purchase and sale of goods and services.  
  

b) Profession:-

• Professions are those occupations which involve rendering of personal services of a special and  expert nature.
• A profession is something which is more than a job.

 

3. Explain the classification of ‘Business’.
1. Activities on the Basis of Size 

a. Small Scale     

b. Large Scale

2. Activities on the Basis of Ownership 

a. Private Enterprise     

b. Public Enterprises         

c. Joint Enterprises

3. Activities on the Basis of Function 

a. Industry          

 b. Commerce

 

IV. Long answer questions

1. Explain the characteristics of Business. (any 5)

Production or Procurement of Goods

• Goods must be produced or procured in order to satisfy human wants.

Sale, Transfer or Exchange 

• There must be sale or exchange of goods or services.

Dealing in Goods and Services

• Goods produced or procured may be consumer goods like cloth, pen, brush,bag etc.
• The transactions must be regular.

Regularity of Dealings

• An isolated dealing in buying and selling does not constitute business.

Profit Motive

• An important feature of business is profit motive.
• Business is an economic activity by which human beings make their living.

 

2. Compare business with profession and employment. (any 5)

 

3. Discuss the objectives of business.
A. Economic Objectives:

• Economic objectives of business refer to the objective of earning profit and also other objectives that are  necessary to be pursued to achieve the profit objective

B. Social Objectives:

• Social objectives are those objectives of business, which are desired to be achieved for the benefit of the society.

C. Organizational Objectives:

• The organizational objectives denote those objectives an organization intends to accomplish during the  course of its existence in the economy

D. Human Objectives:

• Human objectives refer to the objectives aimed at the well-being as well as fulfilment of expectations of employees as also of people who are disabled, handicapped and deprived of proper education and training.

E. National Objectives:

• The goal of the country may be to provide employment opportunity to its citizen,earn revenue for its exchequer, become self-sufficient in production of goods and services,  promote social justice, etc.