Please refer to Business Trade And Commerce HOTs Class 11 Business Studies provided below with Business Trade And Commerce. All HOTs for Class 11 Business Studies with answers provided below have been designed as per the latest syllabus and examination petter issued by CBSE, NCERT, KVS. Students of Standard 11 Business Studies should learn the solved HOTS for Class 11 Business Studies provided below to gain better marks in examinations.
Business Trade And Commerce Class 11 Business Studies HOTs
Question. What are the different types of economic activities?
Answer : There are various types of economic activities. Namely,
• Profession
• Business
• Employment
Question. Name one economic pursuit, in which expertise is required.
Answer :Profession is an economic pursuit, in which expertise is required.
Question. Can fishing be contemplated as a primary industry?
Answer : Yes.
Question. Sort the following into a business concern, employment and profession.
• Farmer
• Clerk
• Lawyer
• Doctor
Answer : • Farmer – Business
• Clerk – Employment
• Lawyer – Profession
• Doctor – Profession
Question. What is the difference between Business and Profession?
Answer :
| Business | Profession |
| In the business, capital investment is necessary according to the size and nature of the business. | In the profession, limited capital is required for the establishment of the business enterprise. |
| Here, profits are uncertain. | Here, the risk factor is not to that extent. |
Question. What are the objectives of a business?
Answer : Objectives of business are mentioned below:
• Innovation: Every business concern must come up with novice ideas, inventions and implement them; which are helpful for survival and growth.
• Productivity: Productivity is certainly determined by contrasting the value of the output with the value of the input.
• Earning Profits: Any business entity that is operating must earn a reasonable amount of profits in order to sustain survival and growth.
Question. Under which type of industry do oil refinery and sugar mills are classified?
Answer : Secondary industry
Question. How does a trader get rid of the hindrance of a person?
Answer : • Getting rid of hindrance of a person by making the commodities obtainable to the customers from the manufacturers via trade.
• Transportation removes hindrance of a location by transporting the commodities from the place of manufacturing to the market place for selling purpose.
• However, insurance removes the hindrance of perils of loss or damage of commodities due to dire, theft and accidents etc.,
• Advertising removes the hindrance of the data by keeping the customers informed regarding the commodities and services that are obtainable in the market place.