nature and purpose of business class 11 notes

Candidates can also check out the Key Points, Important Questions & Practice Papers for various Subjects for Class 11 in both Hindi and English language form the link below. Concept of Business Business is a wide term. Those activities whose Objective is to earn money and to create wealth. 3.Download Pdf file - Open by double click - Press down F5 to start presentation - Scroll down by Arrow Key. As they know that in case of good profits they will get good compensation for their efforts so it finally helps in increasing the efficiency of business. 5. Tax Planning: Tax liability and its impact on business to be considered.10. EduRev is a knowledge-sharing community that depends on everyone being able to pitch in when they know something. Services include transportation, banking, Insurance etc. (a) Primary Industry These includes all those industries which are concerned with extraction of natural resources and reproduction of living species. The best app for CBSE students now provides Business Services class 11 Notes Business Studies latest chapter wise notes for quick preparation of CBSE board exams and school-based annual examinations. Financial Requirement: The businessman must analyze the amount of capital he might require to buy fixed assets and for working capital (Day to day expenses) Proper financial planning must be done to determine the amount of funds needed. (ii) External Trade It refers to the buying and selling of goods and services beyond the geographical limits of the country. Nature and Purpose of Business – CBSE Notes for Class 11 Business Studies -> Types Of Human Activities. CBSE Class 11 Business Studies Notes Maths Notes Accountancy Notes Sociology Notes. Financing the Proposition: Requirement of Capital and its sources must be decided.6. This problem can be solved by storing the goods in warehouses from the time of production till the time they are demanded by customers. Objectives of Business: The objective of business means the purpose for which a business is established and carried on. Every business is directed towards the achievement of certain business objectives. These notes of Chapter 1 - Nature and Purpose of Business are put together by the subject experts and based on the latest CBSE Commerce syllabus. Primary Industry: The primary industry includes those activities through which the natural resources are used to provide raw material for other industries Primary industries are of two types. These notes will certainly save your time during stressful exam days. Competent and committed Workforce: The entrepreneur must find out the requirement of skilled and unskilled workers and managerial staff to perform various activities. This decision depends upon the size, scale and type of business activities he wants to carry on. Analytical industry: Separate different elements from the same materials. Genetic Industry refers to those industries under which the breed of animals and vegetables are improved and made more useful e.g., poultry farms, dairy farming, fish hatchery, cattle breeding etc. (i) Extractive industry: Mining, lumbering, hunting and fishing operations. Business risks arise due to uncertainties. To get fastest exam alerts and government job alerts in India, join our Telegram channel. Transport and communication4. One single transaction of sale or purchase does not constitute business. The best app for CBSE students now provides Nature and Purpose of Business class 11 Notes Business Studies latest chapter wise notes for quick preparation of CBSE exams and school based annual examinations. Hallmark on Jewellery. Pps and Odp file format support animation. 3. It is possible only when business provides goods and services to satisfy the needs & wants of customers. Candidates who are pursuing in Class 11 are advised to revise the notes from this post. 7. 3. Before taking this decision he must find out availability of raw materials, power, labour, banking, transportation etc. 4. 6. 5. Trade: Refers to buying and selling of goods and services with the objective of earning profit. Capital needed according to its size and capacity. CBSE Syllabus for Class 11 Tangkhul 2020-21 [Revised], CBSE Syllabus for Class 11 Mizo 2020-21 [Revised], CBSE Syllabus for Class 11 Japanese 2020-21 [Revised], CBSE Syllabus for Class 11 Kashmiri 2020-21 [Revised], CBSE Notes Class 12 Physics Electrons, Photons and X-rays. Non-Economic Activities The activities which are undertaken by an individual with a motive of getting psychological satisfaction are known as non-economic activities e.g., going to temple, charily, social service etc. (i) Internal Trade Internal Trade refers to buying and selling of goods or services with in the geographical boundaries of a country. 7. It is of two types. (ii) Commerce Commerce refers to all those activities which help directly or indirectly in the distribution of goods to the ultimate consumer. (i) Internal Trade Internal Trade refers to buying and selling of goods or services with in the geographical boundaries of a country. Comparison of Business, Profession and Employment, Various business activities may be classified into two broad categories.

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