Assignment

Class XI
Chapter - 1
Business, Trade and Commerce

Q1. Classify the following activities as Business, Profession or Employment.

(a) Hawkers selling toys to children
(b) Person repairing scooter on roadside
(c) Lawyer fighting a legal case
(d) Charted Accountants
(e) Government officers
(f) Doctor treating patient

Q2. Match the following:

(a) Cement Industry (i) Tertiary Industry

(b) ICICI Bank (ii) Manufacturing Industry

(c) Mining (iii) Genetic Industry

(d) Fish Hatchery (iv) Extractive Industry

Q3. Choose the appropriate answer

In this type of hundi the merchant on whom Hundi is drawn has to have certain level of
creditworthiness in the market.
(a) Nam-jog Hundi (b) Sahyog- Hundi
(c) Furman- jog Hundi (d) Dhani- jog Hundi
[ Hint: (b) ]

Q4. Fill in the blanks:

(a) A trader who sells goods directly to the consumer is known as ___________.
(b) ________________ is an agreement between two parties whereby one agrees to protect
the other against the loss.
(c) ____________ implies the exchange of ideas or facts by two or more person/s.
(d) All human activities can be classified into ___________ and ___________.

Q5.A housewife sells old newspapers every month. Is it a business activity? Give reason.

Q6. ABC limited is planting trees on the roadside. Which objective is being followed by the
company?

Q7. Ritika produces goods for personal consumption. Is it a business activity? Give reason.
Q8. Why does a businessman willingly undertake the Business Risk?

Q9. Tea is mainly produced in Assam, while cotton in Gujrat & Maharashtra but they are
required for consumption in different parts of the country. How can this hindrance of
place be removed?

Q10. “Earning of profit cannot be the objective of business any more than the eating is the
objective of living”. Do you agree with this statement? Give reasons to support your
answer.

Q11. NathuLal prepares ‘sonpapri’ for customers during Diwali season every year. He
prepared more ‘Sonpapari’ than he could sell this year. He employed women and
children also and paid them less salary for manufacturing the packages. This way he
generated profit for himself.
(a) Do you think he is fulfilling all the objectives of business?
(b) If not, which objective are not being fulfilled? Explain.
[Hint: No. Social objectives are not being fulfilled]
Q12. Different situations in different business are being elaborated below:
(i) Raghunath Gorkha had a match stick factory in Nepal which got destructed by the recent
earthquake.
(ii) Mr Arya, a senior manager in a telecom company shared confidential information about
the company with a competitor which led to huge losses for the company.
(iii) Acronym Ltd has to decrease its price of goods due to increasing competition in the
market.

(a) Which characteristic of business is being referred to in all the above cases
(b) How can you classify the different cases based on this characteristic?
[Hint: Business Risks - Causes]

NOTE: Do Assignment in Class Register.