Students can find the most related topics which helps them to analyse the concepts if they practice according to the chapter-wise page. It is necessary for the students to practice more Questions and Answers for Tamilnadu State Board Solutions of 11th Commerce are given in the pdf format in chapter 2 Objectives of Business Questions and Answers so that students can prepare in both online and offline modes. So, Download Samacheer Kalvi 11th Commerce Book Solutions Questions and Answers, Notes Pdf, to score good marks.
Samacheer Kalvi 11th Commerce Solutions Chapter 2 Objectives of Business
Get the Questions and Answers, in Tamilnadu State Board 11th Commerce Solutions for Chapter 2 Objectives of Business. Learn the concepts of 11th Commerce Chapter-Wise by referring to the Tamilnadu State Board Solutions for Chapter 2 Objectives of Business Questions and Answers. Hence we suggest the students to Download Samacheer Kalvi 11th Commerce Book Solutions Questions and Answers pdf to enhance your knowledge.
Samacheer Kalvi 11th Commerce Objectives of Business Textbook Exercise Questions and Answers
I. Choose the Correct Answer
Question 1.
The Primary objective of a business is …………………….
(a) Making Profit
(b) Not Making Profit
(c) Special skill
(d) None of the above
Answer:
(a) Making Profit
Question 2.
Occupation of a Doctor is …………………….
(a) Employment
(b) Business
(c) Profession
(d) Sole Proprietor
Answer:
(c) Profession
Question 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:
(d) Salary or wages
Question 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:
(c) Non Economic Activities
II. Very Short Answer Questions
Question 1.
Define Economic Activities.
Answer:
Economic activities are those activities which are undertaken to earn money or financial gain for livelihood.
Question 2.
What do you mean by Business?
Answer:
Business refers to any human activity undertaken on a regular basis with the object to earn profit through production, distribution, sale or purchase of goods and services.
Question 3.
Define Profession.
Answer:
Professions are those occupations which involves rendering of personal services of a special and expert nature. A profession is something which is more than a job. It is a career for someone who is competent in their respective areas.
Question 4.
What do you mean by Employment?
Answer:
It refers to the occupation in which people work for others and get remuneration in the form of vvage.s or salaries.
III. Short Answer Questions
Question 1.
What do you mean by human activities? Explain.
Answer:
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 categorized into economic and non – economic activities.
Question 2.
Write short notes on:
- Business
- Profession
Answer:
1.Business refers to any human activity undertaken on a regular basis with the object to earn profit through production, distribution, sale or purchase of goods and services.
2. Professions are those occupations which involves rendering of personal services of a special and expert nature. A profession is something which is more than a job. It is a career for someone who is competent in their respective areas.
Question 3.
Explain the concept of ‘Business’.
Answer:
Business refers to any human activity undertaken on a regular, basis with the object to earn profit through production, distribution, sale or purchase of goods and services. Business activities are connected with raising, producing or processing of goods. Industry creates form utility to goods by bringing materials into the form which is useful for intermediate consumption or final consumption by consumers.
Question 4.
Briefly state the human objectives of a business.
Answer:
Human objectives refer to the objectives aimed at the well – being as well as fulfillment of expectations of employees as also of people who are disabled, handicapped and deprived of proper education and training. The human objectives of business may thus include economic well – being of the employees, social and psychological satisfaction of employees and development of human resources.
IV. Long Answer Questions
Question 1.
Explain the characteristics of Business.
Answer:
1. Production or Procurement of Goods : Goods must be produced or procured in order to satisfy human wants.
2. Sale, Transfer or Exchange : There must be sale or exchange of goods or services. When a person weaves cloth for his personal consumption, it is not business because there is no transfer or sale.
3. Dealing in Goods and Services : Goods produced or procured may be consumer goods like cloth, pen, brush, bag etc., or producer-goods like plant and machinery. Services refer to activities like supply of electricity, gas or water, transportation, banking, insurance etc.
4. Regularity of Dealings : An isolated dealing in buying and selling does not constitute business. The transactions must be regular.
5. Profit Motive : An important feature of business is profit motive. Business is an economic activity by which human beings make their living.
6. Element of Risk : The profit that is expected in a business is always uncertain because it depends upon a number of factors beyond the control of the businessman.
Question 2.
Compare business with profession and employment.
Answer:
Question 3.
Discuss any five objectives of business.
Answer:
1. 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, which includes creation of customers, regular innovations and best possible use of available resources.
2. Social Objectives:
Social objective are those objectives of business, which are desired to be achieved for the benefit of the society. Since business operates in a society by utilizing its scarce resources, the society expects something in return for its welfare.
3. Organizational Objectives:
The organizational objectives denote those objectives an organization intends to accomplish during the course of its existence in the economy like expansion and modernization, supply of quality goods to consumers, customers’ satisfaction, etc.
4. Human Objectives:
Human objectives refer to the objectives aimed at the well – being as well as fulfillment of expectations of employees as also of people who are disabled, handicapped and deprived of proper education and training.
The human objectives of business may thus include economic well – being of the employees, social and psychological satisfaction of employees and development of human resources.
5. National Objectives:
Being an important part of the country, every business must have the objective of fulfilling national goals and aspirations.
Question 4.
Distinguish between economic and non – economic activity.
Answer:
Samacheer Kalvi 12th Commerce Objectives of Business Additional Questions and Answers
I. Choose the Correct Answer:
Question 1.
Human activities can be categorised into …………….. types.
(a) One
(b) Two
(c) Three
(d) Four
Answer:
(b) Two
Question 2.
Activities undertaken with the object of earning money are called …………….. activities.
(a) Economic
(b) Non – economic
(c) Financial
(d) Money
Answer:
(a) Economic
Question 3.
Occupations may be classified into ……………. categories.
(a) One
(b) Two
(c) Three
(d) Four
Answer:
(c) Three
Question 4
………………. refers to the occupation in which people work for others and get remuneration in the form of wages or salaries.
(a) Employment
(b) Profession
(c) Business
(d) Industry
Answer:
(a) Employment
II. Very Short Answer Questions
Question 1.
What do you mean by non – economic activities?
Answer:
Activities undertaken to satisfy social and psychological needs are called non – economic activities.
Question 2.
How many types of occupation are there?
Answer:
- Employment
- Profession
- Business
Question 3.
What is Private Enterprises?
Answer:
An enterprise is said to be a private enterprise where it owned, managed and controlled by persons other than Government.
Question 4.
What is Public Enterprises?
Answer:
An enterprise is said to be a public enterprise where it is owned, managed and controlled by Government or any of its agencies or both.
Question 5.
What is Joint Enterprise?
Answer:
An enterprise is said to be a joint enterprise where it is owned, managed and controlled by Government and private entrepreneurs. Example – Maruti Suzuki
III. Short Answer Questions
Question 1.
Give three examples of Economic Activities.
Answer:
- Production of goods by manufacturer
- Distribution of goods by wholesaler
- Selling by retailers
Question 2.
Write any three characteristics of Business.
Answer:
1. Production or Procurement of Goods:
Goods must be produced or procured in order to satisfy human wants.
2. Sale, Transfer or Exchange:
There must be sale or exchange of goods or services. When a person weaves cloth for his personal consumption, it is not business because there is no transfer or sale.
3. Dealing in Goods and Services:
Goods produced or procured may be consumer goods like cloth, pen, brush, bag etc., or producer goods like plant and machinery. Services refer to activities like supply of electricity, gas or water, transportation, banking, insurance etc.
For Own Thinking
Question 1.
Do you know that there are white collar, blue collar, pink collar jobs? Collect the information and discuss.
Answer:
Examples:
- White collar jobs – managerial positions
- Blue collar jobs – skilled or unskilled working class, mechanics
- Pink collar jobs- nursing, teaching, etc.
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