Please refer to Small Business and Entrepreneurship HOTs Class 11 Business Studies provided below with Small Business and Entrepreneurship. 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.
Small Business and Entrepreneurship Class 11 Business Studies HOTs
Question. If a manufacturing company invested Rs.24 lakhs and now wants to invest more. What type of small business will it become?
Answer : It will become a small type company of small business.
Question. Give two advantages of small scale industries in trade export in India.
Answer : The two advantages of small scale industries in trade export in India are.
• They are best for customization. They can customize the product according to the taste and preference of the customer.
• These industries have the potential of building and maintaining a personal relationship with both the employees and customers.
Question. Mention five characteristics of cottage industries.
Answer : The five characteristics of cottage industries are.
• This industry is built and organized by individuals and private resources
• They usually focus on employing family and local labour
• The machinery used is local and cheap • No big capital investment is required
• The product proceed is simple and low in price
Question. What are the major things that National Small Industries Corporation NSIC provide?
Answer : The major things that National Small Industries Corporation NSIC provide are.
• To Imported machinery to business in easy and low hire terms
• To procure, supply, and distribute imported machinery and raw materials
• To help small business export their product
• To Supervise and implement advisory service
Question. Mention two problems of small industries.
Answer : The two problems of small industries are.
• Finance-
• They tend to get exploited by the money lenders or investors.
• Most of the time these units have low working capital because of late payment of dues or locking up capital in unsold hares.
• Raw Material-
• Required new materials are expensive or no available so sometimes they have to manage with low-grade raw materials.
• They cannot buy bulk as they don’t have big space to stock up.
Question. Identify the small scale industry according to their capital
(a) The total contribution of raw material and machinery is Rs. 9 lakh
(b) The total contribution of raw material and machinery is Rs. 2 crores
(c) The total contribution of raw material and machinery is Rs. 26,50,000
Answer : (a) The small scale industry that contributes Rs. 9 lakh for raw material and machinery is Micro-Enterprise
(b) The small scale industry that contributes Rs. 7.5 crore for raw material and machinery is Medium Enterprise
(c) The small scale industry that contributes Rs. 26,50,000 for raw material and machinery is small-Enterprise