business studies class 11 chapter 6 case study questions

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Class 11 Business Studies Case Study Questions

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CBSE Class 11 Business Studies Case Study Questions are available on myCBSEguide App . You can also download them from our student dashboard .

For students appearing for grade 11 CBSE exams from the Commerce stream, Business Studies is a fundamental subject. Business Studies is considered to be quite interesting as well as an occupying subject as compared to all other core subjects of the CBSE class 11 commerce stream. To ace this CBSE exam, students are not only required to work hard but they ought to learn to do smart work too.

Among all the other core subjects of the Commerce stream i.e accountancy, economics and business studies, Business Studies is the one that is purely theoretical. It is termed to be comparatively easier and more scoring than the other mandatory subjects of the commerce stream. Many students who opt for the commerce stream after their 10-grade exams desire to learn in-depth about the business organizations and their work, for them the subject is of utmost importance. Business Studies is an essential component of the class 11 commerce stream curriculum.

In order to ace the subject the student needs to have conceptual clarity. CBSE has designed the syllabus for class 11 Business Studies so as to provide students with a basic understanding of the various principles prevalent in the Business organizations as well as their interaction with their corresponding environment.   

Case Study Questions in class 11 (Business Studies)

Case-based questions have always been an integral part of the Business Studies question paper for many years in the past. The case studies have always been considered to be challenging for the students, for such questions demand the application of their knowledge of the fundamental business concepts and principles. Last year i.e-  2021 CBSE introduced a few changes in the Business Studies question paper pattern to enhance and develop analytical and reasoning skills among students.

It was decided that the questions would be based on real-life scenarios encountered by the students.CBSE not only changed the way case-based questions were formulated but also incremented their weightage in the Business Studies question paper. The sole purpose of increasing the weightage of case-based questions in the class 11 curriculum by CBSE was to drift from rote learning to competency and situation-based learning.

What is a case study question? (Business Studies)

In Business Studies, a case study is more like a real-world test of how the implementation works. It is majorly a report of an organization’s implementation of anything, such as a practice,a product, a system, or a service. The questions would be based on the NCERT textbook for class 11 Business Studies. Case-based questions will definitely carry a substantial weightage in the class 11 Business Studies question paper. questions.

A hypothetical text will be provided on the basis of which the student is expected to solve the given case-based question asked in the Business Studies class 11 exam. Initially, the newly introduced case-based questions appeared to be confusing for both the students and the teachers. Perhaps, they were reluctant to experiment with something new but now a lot more clarity is there that has made the question paper quite student-friendly.

Case study questions could be based on any chapter or concept present in the NCERT textbook. Thus, it is expected from the students to thoroughly revise and memorize the key business fundamentals. 

Business Studies syllabus of class 11 CBSE   

The entire Business Studies course is divided into 2 parts:

• Part A, Foundation of Business
• Part B, Finance and Trade

The class 11 Business Studies exam is for a total of 100 marks, 80 marks are for the theory and the remaining 20 for the project. Most of the questions are based on the exercises from the NCERT textbook. It is recommended to rigorously go through the contents of the book. A single textbook has been published by NCERT for Class 11 Business studies. There are a total of 10 chapters in this book divided into 2 parts. 

CBSE Class – 11

Business Studies (Code No. 054)

Theory: 80 Marks Time: 3 Hours Project: 20 Marks

Case Study Passage (Business Studies class)

As part of these questions, the students would be provided with a hypothetical situation or text, based on which analytical questions will have to be answered by them. It is a must for the students to read the passage in depth before attempting the questions. In the coming examination cycle (2022-23), case-based questions have a weightage of around 30%. These questions can be based on each chapter in the NCERT book for Business Studies, grade 11.

Students must prepare well for the case-based questions before appearing for their Business Studies exam as these questions demand complete knowledge of the various concepts in their syllabus. CBSE plans to increase the weightage of such questions in the upcoming years.

Sample case-based Questions in Business Studies

Business Studies as a subject provides a way of perceiving and interacting with the business ecosystem. It is a core subject of the commerce stream that is purely theoretical and relevantly easier than the other compulsory subjects of the stream. Class 11 Business Studies syllabus is closely related to trade and commerce. The subject cannot be ignored as it is the foundation of many concepts and theories which are studied at an advanced level in class 12.

The case-based questions asked in the CBSE Business Studies question paper for class 11 are of two types:

As per the latest circular issued by CBSE on Assessment and Evaluation practices of the board for the session 2022-23, CBSE has clearly mentioned that competency-based questions including case studies will be different from subjective questions.  

The questions can also be categorized on their difficulty level:

• Direct: such questions can be easily solved. Their answer is visible in the given passage itself.
• Indirect/ Analytical: such questions are confusing and tricky. These can be solved by the application of the theory or principle that is highlighted in the provided text. 

How To Prepare For Case-based Questions? (Business Studies grade 11)

Students need to prepare well for the case-based questions before appearing for their class 11 Business Studies exam. Here are some tips which will help the student to solve the case-based questions at ease:

• Read the provided text carefully
• Try to comprehend the situation and focus on the question asked
• Analyze and carefully answer the question asked
• In general, the passage given would be lengthy in Business Studies case-based questions but their solutions are comparatively short and simple
• One can significantly save time if they follow a reversal pattern, that is going through the questions before reading the comprehensive case study passage.
• Answer in a concise manner
• One should concentrate on solidifying key fundamental principles/theories
• Go through the NCERT textbook in depth. The language used is crisp and simple.
• While providing solutions to the case-based question, pick the keyword/keyline based on which you are driving insights.

 In order to excel in the Business Studies class 11 exam, one needs to ignore the shortcut techniques and get to read the NCERT textbook rigorously. Case studies can be easily solved if your key fundamentals are strong and clear. The best part of having these questions is that the asked question itself projects a hint of its answer. These simple points if kept in mind will definitely help the students to fetch good marks in case study questions, class 11 Business Studies. 

Case study question examples in Business Studies

Here a re some given case study questions for CBSE class 11 Business Studies. If you wish to get more case study questions and other study material, download the myCBSEguide app now. You can also access it through our student dashboard.

Business Studies Case Study 1

Read the hypothetical text given and answer the following questions:

Manish, Rahul and Madhav live in the same locality. They used to meet and discuss their ideas. After discussing the recent fire breakout in their area, they decided to take fire insurance for their house or work area. Manish gets his house insured against fire for ₹1 lakh and during the policy period, his house gets damaged due to fire and the actual loss amounts to ₹2.5 lakh. The insurance company acquired the burning material and approved his claim. Rahul gets his godown insured against fire for ₹1 lakh but does not take enough precautions to minimize the chances of fire like installing fire extinguishers in the factory. During the policy, a fire takes place in his godown and he does not take any preventive steps like throwing water and calling the employees from the fire fighting department to control the fire. He suffered a loss of ₹1,20,000. Madhav took a fire insurance policy of ₹20 lakh for his factory at an annual payment of ₹24,000. In order to reduce the annual premium, he did not disclose that highly explosive chemicals are being manufactured in his factory. Due to a fire, his factory gets severely damaged. The insurance company refused to make payment for the claim as it became aware of the highly explosive chemicals.

How much can Manish claim from the insurance company?

• None of the above

How much compensation can Rahul get from the insurance company?

Which principle is violated in the case of Rahul?

• Insurable Interest
• Utmost Good Faith

How much amount is the insurance company liable to pay to Madhav if he files a case against it?

• Insufficient information

Which principle of Insurance is violated by Madhav?

• Insurable interest
• Subrogation
• Proximate Cause

The insurance company acquired the burnt material and approved his claim. Which principle of Insurance is highlighted in the given statement.

• (a) Mitigation
• (a) Utmost Good Faith
• (d) Subrogation

Business Studies Case Study 2

 Sarthak Electronics Ltd. has a loss of Rs 15,00,000 to pay. They are short of funds so they are trying to find means to arrange funds. Their manager suggested a claim from the insurance company against stock lost due to fire in the warehouse. He actually meant that they can put their warehouse on fire and claim from insurance companies against stock insured. They will use the claim money to pay the loan.

• Will the company receive a claim if the surveyor from the insurance company comes to know the real cause of fire?
• Write any two Values which the company ignores while planning to arrange money from false claims.
• State any three elements of fire insurance

Business Studies Case Study 3

OLX and qickr are examples of well-known websites used to conduct business. Tarasha’s sofa set got spoiled in the rain. Her friend suggested that she should change the fabric so that it looks new and put it for sale on Olx. Tarasha followed her friend’s advice and got her sofa repaired so that it looked better and uploaded nicely clicked pictures on the website without disclosing the fact that it was damaged from the inside. She found a buyer and sold it for Rs 10,000. After five days the buyer found the real state of the sofa set and called Tarasha but she did not answer any of the calls.

• identify the type of business highlighted in the above case.
• Identify any two values which are overlooked by Tarasha.
• Explain any two benefits and limitations of e-business.

Advantages of case study questions in Business Studies

Class 11 Business Studies syllabus is not very vast but has to be focussed upon as it forms the base for your 12th grade Business Studies syllabus. Students are supposed to prepare themselves thoroughly from the NCERT textbook. The Case-based questions prominently focus on the real and current scenarios of the Business world. Approximately 30% of the question paper will comprise case study questions that demand high-order thinking and reasoning skills from the students. The students ought to practice class 11 Business Studies case-based questions from the various options available to them, so as to excel in the subject.

• Enhance the qualitative and quantitative analysis skills of students
• Provides an in-depth understanding of the key Business theories/concepts
• Inculcate intellectual capabilities in students
• Help students retain knowledge for a longer period of time
• The questions would help to discard the concept of rote learning
• Case studies promote and strengthen practical learning.

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Important Questions for CBSE Class 11 Business Studies Chapter 6 – Social Responsibilities of Business and Ethics

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Important Questions Class 11 Business Studies Chapter 6 – Social Responsibilities of Business and Business Ethics

Due to its diversity, Business Studies is one of the most internationally studied courses in the world. Business studies is a broad subject in the social sciences that focuses on various disciplines such as accounting, finance, organisation, human resources management, and marketing. The sixth chapter of the Class 11  curriculum is Social Responsibilities of Business and Business Ethics; this chapter discusses various social responsibilities of business and business ethics. This chapter covers concepts such as the  need for Social Responsibility, identifying social responsibility towards different interest groups, concepts of business ethics and so on. Chapter 6 carries a significant amount of weightage in the examination. Students can easily access Chapter 6 Class 11 Business Studies Important Questions and much more once they register themselves on  the Extramarks website.

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Business studies are more of a theoretical subject which requires constant reading and revision of chapters. . At Extramarks, we understand the value of solving important questions.  Extramarks, one of the leading educational platforms, has a repository of resources such as the NCERT Textbook, NCERT Exemplar, other reference books, past year exam papers , and so on. These resources are prepared in accordance with the NCERT textbook and CBSE guidelines. Our Business Studies subject matter experts have collected step-by-step solutions after extensive research to help students understand the topics and help them to study independently without any further assistance. Students can register with Extramarks and access Important Questions Class 11 Business Studies Chapter 6.

Not just the Business Studies Class 11 Chapter 6 Important Questions, Extramarks has a repository of  resources to offer for all classes and competitive exams. Students can easily find materials like NCERT Solutions, CBSE revision notes , past year question papers, NCERT books, and more on the Extramarks website.

Get Access to CBSE Class 11 Business Studies Important Questions 2022-23 with Solutions

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Social Responsibility of Business Class 11 Questions and Answers

An extensive collection of Class 11 Business Studies Chapter 6 Important Questions has been created by subject matter experts  Extramarks business studies using references from various primary and secondary sources. These questions and their step-by-step solutions help students better comprehend all the topics covered in Class 11 Business Studies Chapter 6.

Given below are a few Important Questions from Class 11 Business Studies Chapter 6 and their solutions:

Q1. State the meaning of Corporate Social Responsibility as per the Companies Act 2013.

Answer. Corporate social responsibility refers to the obligation businesses have to play in achieving social development goals and maintaining a balance between environmental preservation, social advancement, and economic development.

The Companies Act’s section 135 governs CSR and applies to businesses that has:

• Yearly revenue of Rs. 1000 crore
• A net value of 500 billion rupees
• A 5-crore rupee net profit

Schedule VII covers eliminating gender disparity, eradicating hunger and poverty, and fostering a sustainable environment.

Q2. Briefly describe the idea of corporate social responsibility.

Answer. In today’s culture, business is acknowledged and regarded as a social and economic activity. To meet the requirements of society, the business operates within accepted social standards. Society provides the business with all the factors of production, including personnel, machinery, materials, money, and equipment, since the business’s life depends on society.

Society establishes, maintains, and administers its activities in the public interest. In other words, social responsibility is the company’s duty to many societal groups and profit-making.

Q3. What do you mean by social responsibility in business? How is it different from legal responsibility?

Answer. It refers to a corporate organization’s obligations and responsibilities to society and its constituents. Additionally, it demands that the business engages in several socially valuable actions. As a result of the constant exploitation of social resources by businesses, it is part of their duty to contribute to society’s advancement.

Legal obligations can only be fulfilled according to the law. Still, social responsibilities are more focused on improving society by creating work opportunities for women, the physically challenged, and the impoverished.

Q4. ‘Social responsibility is a burden on consumers’ Describe this claim.

Answer. Environmental protection and pollution prevention are costly social obligations that frequently require significant financial outlays. Businesspeople transfer the expense of doing their socially responsible job onto their customers by requesting higher prices.

Q5. Discuss the guidelines enumerated by the Companies Act 2013 for Corporate Social Responsibility.

Answer. Corporate social responsibility generally refers to a company’s duties and commitments to society. Businesses with:

• 1,000 crores or more in annual income,
• a net worth of at least 500 billion rupees, or
• 5 crore or more in net profit

The Companies Act, 2013, oversees corporate social responsibility in India (under Clause 135).

You may learn more about how the Companies Act of 2013 defines CSR by reading the following suggestions:

• A corporate social responsibility committee, made up of three or more board members, including at least one independent director, is required.
• Companies must invest 2% of their average net earnings over the preceding three fiscal years to follow the Corporate Social Responsibility Policy.
• Only CSR projects that are specified in a company’s corporate social responsibility policy—which is based on the recommendations of the corporate social responsibility committee—should be undertaken by businesses in India.
• A company shall adhere to the rules outlined in Schedule VII of the Act while conducting CSR-related activities.
• People will not consider CSR initiatives if they simply serve the interests of the company’s employees or their families.

Q6. Build up arguments for and against social responsibilities.

Answer. The following are arguments for social responsibilities:

• Self-enlightenment: As businesses gain more knowledge and awareness of their position as society’s creators, they are compelled to strive for the greater good. Public expectations are shaped by the voluntary moral and social responsibility norms that managers choose and uphold. Consequently, businesses take on social responsibility on their own rather than as a result of legislative interference.
• Survival in the long run: In the long term, a corporation and its reputation stand to gain the most when its primary goal is to “serve society.” A business gains when it fulfils its social responsibility. When a company achieves social objectives, it also boosts its reputation with the public.
• Safeguard stakeholders’ interests: Businesses must now go above  to satisfy their employees if they want their support. The customer does not purchase the thing that is being presented to them. They buy precisely what they want. Due to increased customer awareness, businesses must embrace social responsiveness toward their clients. Therefore, fulfilling social commitments contributes to a business’s long-term success.
• Limits governmental regulation: Government rules are undesirable because they limit one’s freedom. It is believed that business people may avoid the issue of governmental constraints by voluntarily performing social tasks, which will lessen the need for new laws.

Environmental contamination concerns are handled by organisations like the Central Pollution Control Board.

• Criticising the corporate community for societal issues: Businesses are responsible for creating or sustaining societal issues. Therefore, corporations have a moral duty to actively participate in finding solutions to these problems rather than ignoring them and hoping that other social organisations will take care of them.
• Resources: Large-scale resources available to business enterprises can be used to address societal issues partially. A company may help society handle its issues more effectively given the massive financial and human resources at its disposal. Businesses must operate in society’s best interests both economically and socially since they are a product of society.
• Transforming challenges into opportunity: By taking on the challenge, a business with a track record of effectively negotiating lucrative outcomes in trying circumstances can not only assist in mitigating societal issues but also successfully transform them into assets.

The following are arguments against social responsibilities:

• Consumers’ burden: Environmental protection and pollution control are expensive societal obligations that usually require significant financial outlays. Businesspeople frequently demand more excellent prices from their consumers rather than shouldering the responsibility of doing the right thing.
• Profit maximization: It is the only business goal, and it is violated. Any consideration of social responsibility is therefore incompatible with this objective. The most effective approach for the company to fulfill its social responsibility is to maximize profits through improved efficiency and reduced expenses.
• Widespread popular opposition: The public dislikes business involvement or social program interference. As a result of a lack of public trust and cooperation in resolving social concerns, a business cannot prosper.
• Lack of social skills: Businesspeople lack the necessary abilities and education to address social concerns. Social concerns should be handled by other specialist organisations instead.

Q7. Write a short note on the topic of CSR?

Answer. Every type of commercial firm must behave in a morally righteous way. However, corporate social responsibility (CSR) is a term employed explicitly concerning a firm. It may be summed up as earning financial success while upholding moral principles and considering other people, communities, and the environment. It entails resolving the demands placed on corporations by the law, morality, commerce, and other societal norms, including the requirement that they make choices and perform acts that fairly balance the interests of all stakeholders. Across the board, business operations, supply claims, and decision-making processes are linked with a complete set of CSR policies, practices, and initiatives.

Q8. What are the major areas of social responsibility of business?

Answer. An entity, whether an organisation or an individual, must act in society’s interests according to the ethical paradigm of social responsibility. Everyone has to fulfil this to preserve a balance between the economy and ecosystems.

The following are some of the central business social responsibility initiatives:

• Legal responsibility: Every company is required by law to abide by the nation’s laws. A company is socially responsible if it complies with all applicable rules and regulations.
• Economic responsibility: The economic duty of a company enterprise, or the responsibility to provide goods and services that society wants and sell for a profit, is its primary social responsibility.
• Discretionary responsibility: Discretionary responsibility implies that the firm must safeguard the capital invested by abstaining from speculative behaviour such as gifts to charities, etc. and should engage only in profitable commercial ventures. 
• Ethical responsibility: Referred to as socially acceptable conduct that is not protected by law. Some volunteer help is needed for this project.

Q9. What is the environment? What is environmental pollution?

Answer. The biotic and abiotic resources within and around us make up the environment. It affects the way we live. However, due to industrialisation and rapid population development, resources have been utilised to the point of depletion or deterioration. Additionally, the region has been polluted because of toxic discharge into the ecosystem.

Pollution comes in 4 different forms:

• The dumping of hazardous wastes into the earth pollutes the environment and renders the land unsuitable for agricultural use, leading to land pollution.
• Health issues, including hearing loss and mental illnesses, are brought on by noise pollution from industry and traffic.
• Industrial waste that is released through a pipe causes water pollution.
• Burning waste materials and vehicle exhaust fumes that emit dangerous gases into the environment are two factors that contribute to air pollution.

Q10. Describe how the labour movement has helped businesses in upholding their social obligations.

Answer. The labour movement has grown significantly in strength to secure benefits for the working class globally. Due to this, companies are now required to think about the well-being of their workers rather than using a “hire and fire” strategy.

Q11. Explain the various elements of business ethics.

Answer. A few elements of business ethics are:

• Top-tier managers, such as the CEO of a company, should carefully adhere to the ethical standards and mentor others to do the same.
• The code of conduct, which contains regulations about workplace safety, health, and other matters, must be retained in the form of written papers known as “code.”
• It is essential to have appropriate compliance systems that guarantee choices and the accompanying actions adhere to the firm’s ethical standards.
• The business must track whether its ethics programmes adhere to moral norms, evaluate their outcomes, and determine what course of action is necessary.
• Since workers are the ones who put ethical rules into practice, employees should be included in all levels of ethics programmes.

Q12. Discuss the forces responsible for increasing the concern of business enterprises toward social responsibility.

Answer. The following factors influence how much corporate firms care about their social responsibility:

Labour movement pressure:

• The labour movement has strengthened globally to secure benefits for the working class.
• Due to this, companies are now required to think about the well-being of their workers rather than following a “hire and fire” philosophy.

Effect of consumer awareness:

• The consumer is increasingly aware of his rights and abilities to influence market dynamics because of improvements in education and mass media and greater market competition.
• Businesses are starting to adopt a customer-centric strategy now that the consumer is king.

The threat of public regulation:

• Actions are made to regulate businesses that conduct themselves in a socially irresponsible way to protect the general public’s interests.
• The fear of government regulation is one of the critical causes of why corporations are worried about social responsibility.

Establishment of social standards for business:

• The economic activity of corporate enterprises is now recognised by new social criteria, but only if it also meets social needs.
• It is impossible to operate a business without interacting with the outside world.

The connection between business and social interest:

• Business firms claim that social and commercial objectives are no longer incompatible. They complement one another well.
• Providing high-quality service to society is how businesses may gain in the long run.

The emergence of the managerial and professional classes:

• A unique class of professionals has been created due to professional management education at universities and specialised management institutes.
• When successfully operating their enterprises, professional managers are more concerned with gratifying a range of social interest groups than only hitting profit objectives.

Improving business education:

• Public awareness of the company’s social mission has expanded with the expansion of business education and its substantial social responsibility element.

Q13. Why do enterprises need to adopt pollution control measures?

Answer.   A corporate company must undertake pollution control measures for the following reasons:

• Environmental pollutants contribute to many consequences, including cancer, kidney and lung damage, respiratory illnesses, and cancer. A healthy environment on earth can be achieved through reducing or controlling pollution.
• Organisations can install pollution control equipment in their buildings to stop the harm that gases and solid wastes create.
• Utilising outmoded production methods generates excessive waste, harming the environment and people. As a result, newer, cleaner methods should be employed.
• An organization is regarded as a socially responsible business if it has an effective pollution control strategy in place.
• Effective pollution control methods also lower a company’s operational expenses while preserving the environment.

Q14. Briefly explain (a) Air Pollution, (b) Water Pollution, and ( c) Land Pollution.

Answer. The terms are briefly explained below:

• Air Pollution: Carbon monoxide emissions from autos, smoke, and other chemical emissions from manufacturing enterprises are the leading causes of air pollution. The pollution has caused a hole in the ozone layer, leading to significant global warming.
• Water Pollution: The major causes of water pollution are chemicals, industrial waste, and rubbish dumping. It has claimed the lives of several animals and seriously endangers human life.
• Land Pollution: When hazardous trash is placed on land, pollution occurs. This lowers the quality of the land, making it unsuitable for farming or planting.

Q15. Explain Discretionary responsibility?

Answer. Discretionary responsibility refers to the voluntary obligations met by the company.

Q16. What steps can an enterprise take to protect the environment from the dangers of pollution?

Answer. The actions that business enterprises may implement for environmental protection are:

• They are obeying the government’s laws and guidelines to prevent pollution.
• Taking part in government initiatives to plant trees, manage toxic chemicals, clean up filthy rivers, and avoid deforestation.
• Ensuring that all divisions and workers share the company’s commitment to environmental preservation.
• Creating specified plans and programmes for sourcing high-quality raw materials, employing innovative technology, implementing scientific waste disposal and treatment techniques, and developing staff skills to prevent pollution.
• A clear commitment from the company’s senior management to build, maintain and grow a work culture that fosters environmental protection and pollution prevention.
• Periodic review of pollution control initiatives regarding costs and benefits to enhance environmental protection efforts.
• Organising educational seminars and training materials to share technical knowledge and expertise with suppliers, dealers, and customers to involve them in pollution control activities.

Q17. What is business ethics? Mention the essential elements of business ethics.

Answer. Corporate ethics deals with values and rules controlling the behaviour of a person or an organisation and business actions that are viewed as pleasant from the societal standpoint. It aids managers and other workers in completing their jobs in a manner regarded as socially acceptable.

Elements of Business ethics include:

• Top management’s commitment
• Establishment of a “code.”
• Setting up a compliance system.
• Including staff members at all levels.
• Monitoring outcomes

Q18. Describe the idea of “Human Rights.” Mention any human rights cases as well.

Answer. In the interests of each person, human rights guarantee equality. Human rights essentially served as a justification for action, protection, and support. Human rights emphasise the idea of humanity. All significant corporations ought to support and uphold human rights.

Cases for human rights- In our culture, human rights are highly valued. Numerous movements have also emerged to get these rights.

The following arguments are in favour of human rights in society generally and specifically in business:

• Protection against human injustice: Businessmen typically don’t uphold governmental norms and set their own social and economic standards. Human rights are brought to light when individuals believe that injustice is being sustained.
• Respecting human values: Some human rights are seen as being fundamental. These rights are of more importance than other human rights and legal rights and give entitlements outside the purview of legal authority, and others should respect them.
• Provides benchmarks for law and land policies: Following independence, a few fundamental rights emerged that operate independently of all laws and policies. These rights are more important than any laws or norms a community may have established.

Human rights and legal rights are very different from one another. There may be a legal justification for doing anything cruel, but there is no justification for committing any act of humanity. Human rights are derived independently, whereas legal rights are derived from the constitution and policies. Human standards are the foundation of human rights. Independent of any specific legal system, a set of human norms can serve as the foundation for human rights entitlement. These rights forbid engaging in cruel behaviour.

The United Nations declares the following as Human Rights:

• Right to form and join trade unions.
• The right to work, free choice of employment, good working conditions, and right of protection against unemployment.
• Reasonable limits on working hours and periodic holidays with pay.
• Right of just or favourable remuneration.

Q19. ‘Business is essentially a social institution and not merely a profit-making activity. Explain?

Answer. Profit maximisation is a business’s primary goal. However, businesses are not solely for-profit entities. Because they were developed by society to meet the need for products, every firm uses both human and societal resources. Such social issues like unemployment and poverty influence businesses as well. Socially acceptable actions that enhance society’s image include generating employment and providing a healthy work environment, paying taxes, reducing pollution, and attending to consumer concerns. Here are a few instances that demonstrate how business is a social institution.

On the other hand, it is said that business enterprises are more than just profit-making entities for the following reasons:

• They are seen as social institutions since society plays a role in a company’s success.
• Waste of time, money, and labour should be kept to a minimum since every firm uses society’s physical and human capital.
• Since a business cannot function without customers, purchasing its goods and services depends on them. To do business effectively, it must keep a positive connection with its customers.

Considering this, businesses must give back to society. As a result, we talk of a corporate enterprise as a social institution instead of a for-profit business.

Q20. Why are businesses accountable for protecting the environment?

 Answer. The environment is defined as the entirety of a person’s surroundings, including natural and artificial elements. Resources that are advantageous to human life are also present in these settings. Resources include both natural and artificial things. Natural resources include land, water, air, flora and fauna, and raw materials. Artificial resources include things like cultural heritage, socioeconomic institutions, and people.

Discharging hazardous substances into the environment is known as pollution, and industrial activities mostly bring it on. As the environment can only absorb so many pollutants, pollution alters air, land, and water’s physical, chemical, and biological aspects. Hazardous pollutants include toxic wastes, poisonous byproducts, and substances with harmful properties that the environment cannot metabolise. As a result, pollution puts human health, natural resources, and environmental quality at peril.

A company needs many environmental resources to operate, including raw materials, timber, air, and water. Therefore, it is only fitting that the company gives something back to society and the environment by safeguarding, preserving, and conserving it.

A business is accountable for creating, sustaining, and expanding a workplace culture that supports environmental preservation and pollution prevention through the dedication of the company’s senior management.

The above-stated section of Important Questions Class 11 Business Studies Chapter 6 is a list of Important Questions covering the entire chapter.

Key Topics Covered in Important Questions Class 11 Business Studies Chapter 6

Social Responsibility

People in business have a duty to the community known as social responsibility. Businesspeople need to consider how their choices and activities may affect the other facets of society.

Need for Social Responsibilities

Due to the following reasons, business people are expected to fulfil their social obligations:

• Commitment to societal problems
• Resources used for moral justification
• Social influence
• Avoiding the involvement of government
• Public image
• Better environment for business
• Personal gain

The case against Social Responsibility

Some academics have criticised the idea of social responsibility; a few of the arguments presented below are against social responsibility:

• The motive of earning profit.
• Social skills deficit.
• It costs money to be socially responsible.
• Diluted main business objective.
• Business People lack morality.
• Decreased competitiveness

The reality of Social Responsibility

We may infer that business is not just an economic institution but also a social institution. Business people are the trustees of various social groups after understanding the arguments in favour of and against social obligations.

The fundamental causes and influences that have compelled businesspeople to think about their obligations to society are:

• The threat of government regulation
• Labour movement pressure
• Effect of consumer awareness
• Creation of social norms for business
• Social and commercial interests are related to one another.
• Growth of the professional-managerial class

Kinds of Social Responsibility

• Ethical Responsibility: While acting ethically, business people should refrain from engaging in adulteration, black marketing, etc. Ethics are much more than the law.
• Economic Responsibility: Businesses must provide things and services that society needs and values and sell them for a profit to fulfil their economic responsibilities.
• Discretionary Responsibility: This obligation is entirely optional. This involves charitable giving. Helping those impacted by floods, earthquakes, etc., by participating in social service programmes, establishing educational and training facilities, etc.
• Legal Responsibility: Every firm is expected to operate within our society’s legal framework. A business that follows the law is viewed as socially responsible and receives no interference from the government.

Social responsibility towards different interest groups

Responsibilities towards Consumers:

• Production of certain products while upholding quality requirements.
• Being sincere in marketing.
• Should adhere to fair trade principles.

Responsibilities towards Employees:

• Provide perks and remuneration that are just.
• Establishing favourable and secure working circumstances.
• To provide them with opportunities to take part in the decision-making

Responsibilities towards the Owners/Shareholders/Investors:

• To guarantee investment safety.
• To guarantee a just and consistent return on investment.
• To guarantee investment growth through efficient resource use.

Responsibilities towards Government:

• To follow the law, rules, and regulations.
• Must promptly pay all taxes and fees.
• To assist in resolving social issues.

Responsibilities towards the community:

• To defend the environment from contamination of all kinds.
• To increase the number of work options.
• To support society’s less fortunate groups.

Responsibilities towards Suppliers:

• To make sure that the provider is regularly paid.
• To conduct fair business with suppliers.
• By placing orders with them to defend and support small-scale suppliers.

Business and Environment protection

Causes of Environmental Pollution

The following factors contribute to environmental pollution:

• Land pollution
• Air pollution
• Water pollution

Need for Pollution Control

The following are the primary causes for pollution control:

• To guarantee safety
• To preserve the beauty of nature
• Economic losses
• To guarantee a healthy life
• To lead a comfortable life

Role of Business in Environmental Protection

Business people should take the following actions to control and check environmental pollution:

• Using environmentally sustainable production methods.
• Industrial waste recycling.
• We are using technology to treat garbage before dumping it on land or releasing it into the sea.
• Utilise eco-marks by making environmentally beneficial items.

Business Ethics

It refers to the collection of moral principles that guide a businessperson’s actions. What is good and wrong are defined by ethics.

Elements of Business Ethics

The following are some fundamental principles of conducting business ethically:

• The construction of a compliance system
• Publication of a ‘code.’
• Engaging workers at all levels
• Top management commitment
• Result measurement

In the above section of Important Questions Class 11 Business Studies Chapter 6 , all the critical topics covered have been discussed.

Benefits of Solving Business Studies Class 11 Chapter 6 Important Questions

As mentioned earlier, Business Studies is a subject that requires constant reading and revising of each chapter on a regular basis. Its fundamentals are introduced in Class 11 with a more detailed explanation in Class 12. Class 11 students are advised to go through Extramarks Important Questions Class 11 Business Studies Chapter 6 . These critical questions make comprehension much easier for the students. 

  Following are some benefits of solving Important Questions Class 11 Business Studies Chapter 6: 

• Business Studies comprises a vast syllabus —all the intricacies of the chapters are adequately explained  through  these crucial questions by Extramarks. Students and teachers have unshakable trust and faith in Extramarks resources.
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Q.1 A business is essentially a social institution and not merely a profit making activity. Do you think this statement is correct Give arguments in favour of the statement.

Marks: 6 Ans

The statement A business is essentially a social institution and not merely a profit making activity is correct and can be justified with following arguments:

i) Existence and Growth of Business : The prosperity and growth is possible only through continuous service to society. Profit motive is an important justification for a business and it is an outcome of satisfactory services to people. Therefore, satisfying the customers through social responsibility is necessary for the existence and growth of business.

ii) Avoidance of Government Intervention : Governmental intervention is undesirable for smooth running of a business as it limits the freedom of activities. If the firms voluntarily adopt social responsibility programmes, they can avoid this problem.

iii) Creating Opportunities : The business institutions have valuable financial and human resources which can be effectively used for solving problems. In this way they can convert risky situations into profitable deals, create new opportunities as well as solve social problems.

iv) Long Term Interest of Business : It is in the long term interest of the business to fulfill its social responsibility. The public image of the firm would improve when it supports social goals. If the firm fails to do so, the members of the society feel that business is not serving its best interest and they tend to withdraw their cooperation to the enterprise.

v) Creating Better Business Environment : A firm cannot do better in a society which is full of complicated problems. If the society has fewer problems, it will provide better environment for a firm to conduct its business. Therefore, it is in the interest of the business firms to take steps to minimise the problems of the society by acknowledging their responsibility towards them.

vi) Moral Obligation of Business : Most of the social problems have either been created or perpetuated by business enterprises themselves such as environmental pollution, unsafe workplaces, corruption in public institutions and discriminatory practices in employment. Hence, it becomes the moral obligation of business firms to get involved in solving these problems.

Q.2 Suggest the steps which can be taken by business organisations for environmental protection.

Following steps can be taken by business enterprises for environmental protection:

i) Commitment by Management : Top management should take the commitment to create, maintain and develop work culture to enhance environment protection. All measures should be taken to prevent any type of pollution.

ii) Involvement of All : All departments and employees should be involved in environment protection programmes. It would be helpful to achieve the desired result, if efforts are made jointly.

iii) Developing Policies : Business firms should make policies for purchasing good quality raw materials using superior technology and scientific techniques of disposal and treatment of wastes. Efforts should be made to develop employee skills for the purpose of pollution control.

iv) Complying with Laws : The business organisations must comply with the laws, acts and regulations enacted by the government for prevention of pollution. It should be the duty of all business firms to participate in government programmes relating to management of hazardous substances, clearing up of polluted rivers etc.

v) Periodical Assessment : Regular assessment of pollution control programmes in terms of cost benefit analysis should be done to ensure that they progress in the right direction.

vi) Arranging Workshops : To involve all stakeholders such as suppliers, consumers, employees etc., workshops or seminars should be organised. Through these workshops or seminars, education and training related to environment protection can be provided easily.

Q.3 Explain the basic elements of business ethics which can be taken care of while running an enterprise.

Marks: 5 Ans

The basic elements of business ethics which should be taken care of while running an enterprise are as follows:

i) Role of Top Management : To achieve good results in terms of business ethics, the top management of the firm needs to be openly and strongly committed to ethical conduct of the business. The top management must give continuous leadership for developing and upholding the values of the organisation.

ii) Involvement of Employees : Whatever the policies are framed for ethical conduct of the business, are implemented by the employees working at different levels of the organisation. Therefore, it is necessary that all employees of the firm should be involved in ethical conduct of the business.

iii) Publication of a Code : Business organisations publish a written document containing the principles of conduct for the whole organisation, called Code. This code covers the areas of honesty, product safety, fairness of selling practices etc.

iv) Compliance Mechanisms : To ensure that the conduction of business and actions comply with the ethical standards set up by the firm, it is necessary to establish appropriate mechanisms.

v) Measuring Results : It is difficult to accurately measure the results of ethical programmes. However, the firms can certainly audit to monitor compliance with ethical standards.

Q.4 Aarav works as a whole time director and legal consultant in a large manufacturing organisation. The top management decided to expand their operations and open a new unit. Aarav along with other managers decided to establish an advanced pollution control device for the new unit so that there is less possibility of damage to nearby areas and avoidance of government regulations with respect to pollution control measures. Also, workers living in nearby areas were hired and given fair amount of wages so that their standard of living can be improved.

• Installation of pollution control device can be categorised under which type of social responsibility
• Also, identify the concept that involves adhering to moral practices and following fair business practices in the interest of people.

Marks: 4 Ans

(i) Installation of pollution control unit can be categorised under Legal responsibility of a business as there are laws and measures imposed by government with respect to industrial units that can create pollution and to avoid breaking of such laws, companies install pollution control devices.

Legal responsibility is to operate business within the laws of the country and be a law abiding enterprise. A business needs to comply with the provisions of law.

(ii) The concept that involves adhering to moral practices and following fair business practices in the interest of people is known as Business ethics.

Business ethics is an act, decision or behavior that is in agreement with the prevailing norms of the society. Every business is expected to carry its operations in an ethical manner. It is different from law. Ethics means the business practices which are desirable from the point of view of the society.

Examples of business ethics will be: charging fair prices from customers, giving fair treatment to workers, earning reasonable profits etc. On the other hand, malpractices such as adulteration, hoarding, black-marketing etc. are not desirable from the point of view of the society and so are termed as unethical.

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Cbse class 11 business studies important questions, chapter 1 - business, trade and commerce.

Chapter 2 - Forms of Business Organisation

Chapter 3 - private, public and global enterprises, chapter 4 - business services, chapter 5 - emerging modes of business, chapter 7 - formation of a company, chapter 8 - sources of business finance, chapter 9 - small business, chapter 10 - internal trade, chapter 11 - international business, faqs (frequently asked questions), 1. where can a student easily find important questions class 11 business studies chapter 6.

Students can easily register with Extramarks and gain access to Important Questions Class 11 Business Studies Chapter 6 . These critical questions cover  the entire chapter.  Prepared  by subject matter  experts, these questions and their solutions are  authentic and exclusive. This encourages the student to master the topic  and help students achieve better grades in their examinations.

2. How many books are assigned for Class 11 Business Studies?

The Central Board of Secondary Education (CBSE) only suggests one Class 11 Business Studies book. As a result, this book—available in both Hindi and English—was published by the National Council of Educational Research and Training (NCERT). There are 10 chapters in this book, which are divided into two parts.   Part A includes –  Foundation of Business comprises six chapters while part B has Finance and Trade comprises four chapters.

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NCERT Solutions for Class 11 Business Studies Chapter 6

NCERT Solutions for Class 11 Business Studies Chapter 6 Social Responsibilities of Business and Business Ethics. Study material with extra important questions in Hindi and English Medium are given in PDF file format to free download. Answers of long questions and short questions given in end exercises are given to study online. For suggestions and feedback, you are welcome on Tiwari Academy.

Download Class 11 Business Studies Chapter 6 Study Material in Hindi and English

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11th B St Chapter 6 Short Answer Questions

What do you understand by social responsibility of business how is it different from legal responsibility.

Social responsibility is an ethical framework and suggests that an individual has an obligation to act for the benefit of society at large. Social responsibility is a duty every individual has to perform so as to maintain a balance between the economy and the ecosystems. It refers to the obligations, duties and responsibilities of business enterprises towards society and its members. If a business makes use of society’s resources in the form of human and physical capital, it becomes the moral duty and responsibility to work for the betterment of society. Social responsibility differs from legal responsibility on following aspects: (a) Legal responsibility is compulsory under any of the laws, acts and constitution. Social responsibility is not backed by legal provisions. (b) Social responsibility is broader than legal responsibility of business. (c) Legal responsibility is mandatory while social responsibility is a choice.

What is environment? What is environmental pollution?

Environment encompasses all living and non living things around us which have an impact on our lives. It includes all surroundings and resources that affect our existence and quality of life. Pollution is the introduction of contaminants into the natural environment that causes adverse change. Pollution can take the form of chemical substances or energy, such as noise, heat or light. Pollutants, the components of pollution, can be either foreign substances and energies or naturally occurring contaminants. Rapid increase in population and industrialisation, the excessive use of resources has degraded and depleted the resources. Environmental pollution can be classified into the following four types: Air pollution, water pollution, land pollution and noise pollution.

What is business ethics? Mention the basic elements of business ethics?

Business ethics is a form of applied ethics or professional ethics, that examines ethical principles and moral or ethical problems that can arise in a business environment. It applies to all aspects of business conduct and is relevant to the conduct of individuals and entire organizations. It has a set of values and principles that govern the behaviour of individuals in an organisation. The main purpose of business ethics is to guide managers and other employees to perform their jobs in a manner that is socially acceptable. The following are some of the elements of business ethics. (a) Top management commitment (b) Publication of a ‘code’. (c) Establishment of compliance mechanism (d) Involvement of employees at all levels (e) Measurement of results

Briefly explain (a) Air pollution, (b) Water pollution and (c) Land pollution.

• (a) Air pollution: Air pollution occurs when harmful or excessive quantities of substances are introduced into Earth’s atmosphere. Sources of air pollution include gases, particulates, and biological molecules. Smoke and chemicals emitted by factories and vehicles degrade the air quality and causes air pollution.
• (b) Water pollution: Water pollution is the contamination of water bodies, usually as a result of human activities. Water bodies include for example lakes, rivers, oceans, aquifers and groundwater. Water pollution results when contaminants are introduced into the natural environment. Discharge of industrial and household wastes into rivers, streams or lakes causes degradation of the water quality.
• (c) Land pollution: This is caused due to the dumping of toxic material and wastes on land, which in turn damages the quality of land, making it unfit and unproductive for agriculture and crop plantation.

What are the major areas of social responsibility of business?

The following are the major areas of social responsibility of businesses.

• Economic responsibility : Business enterprises have the main objective of making profits. Therefore, it is the responsibility of every business enterprise to undertake economic activities such as producing goods and services according to the needs and wants of consumers and selling them at reasonable prices but still maintain the quality.
• Legal responsibility : Every business has to abide by the laws and regulations of the country in which it operates and should carry business activities lawfully.
• Ethical responsibility : The society also expects the business to fulfil all responsibilities not implemented by law. This includes respecting religious sentiments, producing quality products and working toward a better environment.
• Discretionary responsibility : This responsibility is completely voluntary in nature. It implies that a business enterprise may opt for charitable activities like opening a charitable school or hospital for the poor, grant aid to people affected by natural calamities etc.

State the meaning of Corporate Social Responsibility as per the Companies Act 2013.

Corporate social responsibility (CSR) is a self-regulating business model that helps a company be socially accountable to itself, its stakeholders, and the public. By practicing corporate social responsibility, also called corporate citizenship, companies can be conscious of the kind of impact they are having on all aspects of society, including economic, social, and environmental. The Corporate Social Responsibility in India as governed by the Companies Act, 2013 (under Clause 135) applies to those companies which have an annual turnover of ₹1,000 crore and more, or those having a net worth of ₹500 crore and more, or a net profit of ₹5 crore and more. To engage in CSR means that, in the ordinary course of business, a company is operating in ways that contribute towards betterment of society and the environment, instead of contributing negatively to them.

11th B. St. Chapter 6 Long Answer Questions

Build up argument for and against social responsibilities..

The case in favour of taking up social responsibilities (a) Existence and growth : Business enterprises exist to make profits by providing goods and services to consumers. Thus, we can say that their long-term growth prospect depends not only on their profits but also on how efficiently they serve society. Therefore, taking up social responsibilities supports the existence and growth of a business enterprise. (b) Avoidance of government intervention : Business enterprises should always work in line with society’s values and ethics. This would help them fulfil their social responsibilities, which in turn would make them less prone to government intervention. (c) Better environment for doing business : Businesses make use of society’s resource of human capital. Thus, by providing employment to people, they help solve the social problem of unemployment and poverty, thereby creating a favourable environment for business. (d) Resources available to business : The business has all the financial and human resources available to cope up with the problems faced by it. (e) Opportunity cost : Business can take up social problems and convert it into opportunities to generate gain in future.

The case against taking up social responsibilities (a) Violation of profit maximisation objectives: It is argued that a business enterprise exists to make a profit. Thus, if it engages itself in solving social problems, then it may not have enough resources to meet its primary objective of profit maximisation. (b) Burden on consumers: It is argued that when a business enterprise is engaged in solving social problems such as environment pollution and unemployment, its expenditures increase. This increased financial burden is ultimately passed on to the consumers in the forms of higher prices of products. (c) Lack of social skills: Businesspersons are basically trained to solve business-related problems such as minimising cost, maximising profits and increasing sales. However, they are not specialised in solving social problems. Thus, it is argued that social problems must be solved only by specialised agencies, which have the required training and skills.

Discuss the forces which are responsible for increasing concern of business enterprises towards social responsibility.

The following are the forces which are responsible for increasing the concern of business enterprises for social responsibility. (a) Threat of public regulation : The interest of general public is to be safeguarded by the government. Thus, if a business is not socially morale towards society, then it can regulate the operations of that enterprise accordingly. (b) Pressure of labour movement : The increase in capital mobility over time has increased the pressure on business enterprises to pay attention to the welfare of workers, by providing them with healthy working conditions along with good remuneration. (c) Impact of consumer consciousness : Consumers education has led to a change in the mindset as consumers today are aware of their rights and responsibilities. Therefore, business enterprises need to be more efficient and productive to satisfy their customers. (d) Development of social standards : Business these days are not just profit oriented. For their long-term survival and growth, they need to fulfil the new standards of social welfare. (e) Development of business education : The spread of education over time has made consumers, investors, employees and owners more of social problems, thereby making them more sensitive to social issues. (f) Relationship between social interest and business interest : There is a need to maintain the correct balance between social and business interest. Profitability and social responsibility go hand in hand. No business enterprise can work in isolation from society and can grow by doing the maximum good to society. (g) Development of a professional managerial class : The core objective of profit maximization was a traditional aspect. But today’s professional managers make efforts to satisfy the interests of all members of society.

“Business is essentially a social institution and not merely a profit making activity”. Explain.

The core objective of any business enterprise is profit maximisation. Profit acts as a measure of success and growth of a business. Also, retained profits can be used to finance the expansion projects of a business enterprise. However, it is argued that business enterprises are not mere profit-making entities. They are considered as social institutions, too, as they are created by society and have a duty to fulfil towards the society for using up all resources. Business makes human and physical resources and works in tandem with the society. Thus, a need arises to create a balance between the business interests and social interests of a business enterprise, such that it can grow by doing the maximum good to society. Hence, we say that a business enterprise is a social institution and not merely a profit-making entity. In this regard, there are some of the responsibilities that must be fulfilled by an enterprise like paying taxes on time, paying fair wages to employees, supplying quality products at reasonable prices to customers

Why do the business enterprises need to adopt pollution control measures?

Pollution control is a term used in environmental management. It means the control of emissions and effluents into air, water or soil. Without pollution control, the waste products from overconsumption, heating, agriculture, mining, manufacturing, transportation and other human activities, whether they accumulate or disperse, will degrade the environment. Pollution control is necessary for preserving and improving the quality of environmental resources. The following are some of the reasons why business enterprises need to adopt pollution control measures.

• (a) Reduced health hazards : Pollutants in the environment can be a reason for hazardous diseases such as cancers and respiratory problems. Thus, pollution control measures will help in reducing the level of diseases and lead to a healthy life.
• (b) Reduced risk of liability : Heavy penalties are levied to enterprises that are held responsible for polluting the environment and are asked to compensate. Pollution control mitigates the risk of such liabilities.
• (c) Cost savings : The government is taking up initiative to help firms implement efficient pollution control mechanisms to reduce the cost of waste disposal and the cost of cleaning up production plants. This in turn helps firms to reduce their costs.
• (d) Improved public image : An increase in the education level has made people more aware about environmental problems. As a result, they have started realising the need to protect the environment. Thus, business enterprises which adopt pollution control measures enjoy a good reputation in society.
• (e) Other social benefits : Pollution control is not only beneficial for the society but for a business itself as it enjoys various other benefits such as cleaner surroundings, better quality of life for its employees.

What steps can an enterprise take to protect the environment from the dangers of pollution?

Various business activities such as production, transportation and consumption of goods often result in overexploitation of natural resources and it becomes the responsibility of every business enterprise to contribute toward environment healing. The following steps can be taken by the business enterprises to control pollution.

• Top level commitment: The top management should be committed towards spreading awareness in employees creating, developing and maintaining a framework for environmental protection and pollution prevention.
• Commitment by employees: Employees should follow the footsteps of top management and should be committed to keeping the environment clean and protected.
• Better technology: Enterprises should avoid cheap resources that cause harm to the environment and employ environment effective technologies of production. The waste management should be a priority for enterprises. This will ensure environment protection and pollution control.
• Rules and regulations: Enterprises must abide by the rules and regulations laid by the government for the prevention of environmental pollution. They must also encourage the implementation of rules within work culture.
• Awareness and Assessment: By conducting workshops and training programmes, business enterprises must make an effort to spread awareness. It should conduct periodic assessment of employees and the ethics followed to conserve the environment.
• Active participation: All levels of management should actively participate in government programs relating to pollution control. An enterprise must also indulge in programmes for tree plantation etc to help environment heal.

Explain the various elements of business ethics?

Business ethics is a form of applied ethics or professional ethics, that examines ethical principles and moral or ethical problems that can arise in a business environment. It applies to all aspects of business conduct and is relevant to the conduct of individuals and entire organizations. It has a set of values and principles that govern the behaviour of individuals in an organisation. The main purpose of business ethics is to guide managers and other employees to perform their jobs in a manner that is socially acceptable. The following are some of the elements of business ethics.

• Commitment by top management : Top-level personnel, such as the CEO’s, Vice President and other higher level managers, must positively follow the ethical code of conduct. They should be a role model for other employees in their organisation in adopting the code.
• Publication of a “code” : An enterprise must clearly lay down the ethical code of conduct and behaviour to be followed in the organisation by all the members working in it. The code should also include quality standards for work, laws governing production and employee health and safety standards.
• Establishment of compliance mechanism : There should be a proper channel or mechanism to ensure the code is duly followed by all individual. It can measure the actions of individual employees. This should be done in order to confirm whether the ethical standards are being met.
• Involvement of employees at all levels : The successful implementation of ethical standards depends to a large extent on the involvement of employees at different levels. This is because it is the employees who actually implement the ethical codes.
• Measurement of results : Measuring the implementation of ethical standards is a tedious task and the top management should take initiative to monitor compliance. Also, there must be a zero tolerance policy and management must take serious action against any unethical behaviour in the organisation.

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NCERT Solutions for Class 6, 7, 8, 9, 10, 11 and 12

NCERT Solutions for Class 11 Business Studies

NCERT Solutions for Business Studies Subject for Class 11 Students are given here. The 11th grade is an important milestone because it lays the foundation for your final board exams the next year. For students who plan to study commerce, Business Studies is an integral part of your syllabus.

Business studies require you to memorise a lot of business laws and trade sanctions. At LearnCBSE.in, we provide the Class 11 Business Studies NCERT Solutions. You can easily download the solutions and start solving questions to make it easier for yourself!

• Chapter 1 Nature and Purpose of Business
• Chapter 2 Forms of Business Organisation
• Chapter 3 Private, Public and Global Enterprises
• Chapter 4 Business Services
• Chapter 5 Emerging Modes of Business
• Chapter 6 Social Responsibilities of Business and Business Ethics
• Chapter 7 Formation of a Company
• Chapter 8 Sources of Business Finance
• Chapter 9 Small Business
• Chapter 10 Internal Trade
• Chapter 11 International Business-I
• Chapter 12 International Business-II

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Social Responsibilities of Business and Business Ethics Class 11 Important Extra Questions Business Studies Chapter 6

February 12, 2021 by Prasanna

Here we are providing Business Studies Class 11 Important Extra Questions and Answers Chapter 6 Social Responsibilities of Business and Business Ethics. Business Studies Class 11 Important Questions with Answers are the best resource for students which helps in class 11 board exams.

Class 11 Business Studies Chapter 6 Important Extra Questions Social Responsibilities of Business and Business Ethics

Social responsibilities of business and business ethics important extra questions short answer type.

Question 1. Explain in brief the concept of social responsibility of business. Answer: Concept of Social Responsibility: Meaning and Rationale: Business in today’s world is recognized and accepted as a social and economic activity of society. The business is carried on within the societal norms in order to satisfy the needs of the society. All the factors of production i.e. Men, machines, materials, money, and equipment are supplied by the society to the business as such business owes its existence to the society.

The society originates, sustains, and manages to conduct its affairs in the. the interest of society. In other words, social responsibility is the obligation of the business towards different groups of society; in addition to its profit earning.

• “Social responsibility is the personal obligation of everyone, as he acts for his owner’s interests to assure that right and legitimate interests of all others do not impinge.”-Knootz O’Donnel
• “In the real sense, the assumption of social responsibilities implies recognition and understanding of the aspiration of society and determination to contribute to its achievement”-George A. Steiner

The business has its obligation to pay a reasonable return to its owners, to pay interest at competitive rates to investors, to pay reasonable remuneration to employees, supply goods to customers at reasonable rates, and to conduct the affairs of the business in accordance with social commitment and values.

Question 2. “Customers are the foundation of the business.” Explain the statement in the light of the social consciousness of consumers. Answer: Peter F. Drucker, the management Guru, rightly states that the customers are the foundation stone of any business. The ultimate objective of any business to gain maximum profit can only be achieved by providing the right goods and services to consumers and try to provide maximum satisfaction to consumers. In the opinion of Butler, “The customers hold a topmost place in the organization hierarchy.

It is, therefore, necessary that businesses should avoid adulteration, substandard product, defective measurement or weights, deceptive and advertisements, and omission from services and courtesy. Business premises is for customers not the customers for the business.

The business has the following obligation towards customers: 1. Need-based production: Business should produce only those goods which satisfy the expectation and aspirations of the customers.

2. Supplying goods at a reasonable price: Every business aims at producing goods at the minimum cost. It should supply goods to customers at a reasonable price. The price of the commodity must be reasonable and competitive.

3. Appropriate distribution: The producers and manufacturers should make their goods and services at the appropriate places and times, so that customers may not face more difficulties in acquiring them. The increase in the number of middlemen will increase the price. The channels of distribution must be sufficient to maintain the smooth supply of goods to customers. The importance of customers in business must be recognized and accepted by every firm.

Question 3. Discuss the responsibilities of business towards employees or workers. Answer: Workers are the major force in any organization. They do not only work as a factor of production but also helps in working the other factors. It is rightly said that the owner of a business simply invests capital in the business, but employees/workers invested their entire life for the benefit of the organization. Therefore, it is the prime duty of the business to fulfill its humane, social, and business obligations.

The responsibility of business towards employees or workers may be discussed as under: 1. Fair wages: it is the social, moral humane, and business responsibility of every firm to pay a reasonable amount of wages to employees in order to live a respectable life in society.

2. Security of the job: Workers must feel part and parcel of the organization and treat themselves as a permanent assist in the business. He should contribute his best without fear of being removed and retrenched.

3. Creating a congenial atmosphere of work- Working conditions must be congenial to work. The place of work should be clean, properly ventilated, and free from dirt and suffocation. There should be proper arrangement of safety measures to avoid accidents.

4. Scientific selection and training of workers: The selection and appointment of workers should be based on testing. Employees should be selected strictly as per the requirements of the works. In other words, the right workers should be appointed for the right jobs.

Late Prime Minister Pandit Jawahar Lai Nehru rightly conclude that “In the present economic and industrial structure, the relationship between workers and customers should not be that of owner and workers but workers should be treated as partner and colleague and in this vim; there can be the peaceful solution of all the economic problems.”

Question 4. Explain the concept of ‘Human Rights’. Also mention cases for Human Rights. Answer: Concept of Human Rights: Human rights provide equality to individuals in their interests. Human rights basically meant to provide a basis for justifying one’s action and provide protection and assistance. Human rights lay stress on the concept of humanity. All big business organizations should follow and promote human rights.

Cases for Human Rights- Human rights have received high priority in our society’. In order to get these rights, many movements have also appeared.

The following statements may be mentioned in favor of human rights in general, in society’ and in particular in business. 1. Protection against Human Injustice- Businessmen generally do not protect government patterns and establish their own social and economic parameters. Human rights come to light when people think that injustice being perpetuated.

2. Provides Benchmarks for Law Land Policies: After independence, certain basic rights became natural which do not act under any law or policy. These rights take precedence over the particular laws and standards created by society.

3. Respecting the Human Values: Some human rights are taken as basic rights. These rights are the overriding significance of human rights over others, human rights, and legal rights and provide entitlements beyond legal jurisdiction should be respected by others.

There is a great difference between human and legal rights. One may have a legal right to do something inhumane but for doing any work of humanity there is no need to have legal rights. Legal rights are derived from the constitution and policies while human rights derived independently. Human rights are based on human norms. Entitlement of human rights can derive from a system of human standards independently of any particular legal system. These rights prohibit todo something inhumane.

United Nation declares the following as Human Rights:

• The right to work, free choice of employment, good working conditions, right of protection against unemployment.
• Right of just or favorable remuneration.
• Right to form and join trade unions.
• Reasonable limitation of working hours and periodic holidays with pay.

Question 5. Outline the major Environmental Pollution Control Activities, Answer: Major Environmental Pollution Control Activities:

• National conservation strategy in 1992, policy statement for environment and development, Policy statement for abatement of pollution 1992, National Forest Policy 1988, and in 1986. Environment (Protection) Act was initiated for pollution control.
• Standards related to air, water, and noise levels were formulated by a multi-disciplinary group keeping in view the international standards, technologies, and impact on health and the environment.
• Action plans and identification of 17 categories of major polluting industries.
• Identification of 24 major polluted areas for pollution control.
• Factories were asked to use coal wherein % of smoke will not be more than 34%.
• Action plans for 141 polluted rivers started.
• In order to reduce the pollution from automobiles, cleaner fuels, low sulfur diesel, and compressed natural gas (CNG) should be used at the manufacturing stage.
• Starting of clean technologies for big industries.
• FortheclustersofSSI units ‘Common Effluent Plants’ was set up.
• The echo mark scheme started to increase the production/consumption of Environment-friendly products.
• A zoning atlas was prepared to get environmental informational district level.
• Environmental epidemiological studies were initiated in seven critically polluted areas to study the impact of the environment on health.
• Financial assistance to initiate pollution control environments and to shift industries in the outer places.
• Environment Pollution (Prevention & control) authority was established.
• Prohibition of smoking in public places and use of polythene bags.

Question 6. What are the various factors influencing business ethics? Answer: Factors Influencing Business Ethics: The main determinants of business ethics are as follows: 1. Social values- Social forces and pressures exercise considerable influence on business ethics. Often, different groups in society compel businessmen to discontinue unethical practices. Morality, behavior, beliefs emerge from social values, social forces exercise influence on business to observe ethics in business.

2. Legislation: Laws are generally passed to keep a check on unethical practices. They are their use of social pressures. When society considers a practice unethical, it may exercise its influence to get that practice declared illegal. For example, the Monopolies and Restrictive Trade Practices Act has made monopolistic trade practices illegal in India. Prevention of Food Adulteration Act 1976, Drugs and Cosmetics Act 1946, Prevention of Black-marketing and Maintenance of Supply of Essential Commodities Act 1980 has to enact to keep a check on malpractices of business.

3. Government rules and regulations: Government regulations provide guidelines for acceptable practices. For example, the government has made it compulsory for tobacco companies to give the statutory warning “smoking is injurious to health” in the advertisements for cigarettes.

4. Industry norms: In some industries and trades, specific codes of conduct have been laid down. In addition, many organizations have laid down guidelines for regulating the behavior of their employees. Most industries have an ethical climate that governs the code of conduct of the employees. An individual working in the enterprises to observe the code of conduct of the enterprise, and norms established in the industry.

5. Personal Yahies-The personal beliefs of the individuals working in an organization also influence business ethics. However, sometimes there is a conflict between personal moral values and company goals. Generally, employees look to their superiors and tend to adopt their values and actions. The behavior of competitors and associates also influences business ethics. An honest businessman must-keep their personal interest subordinate to die interest of society.

6. Professionafisation: Professional managers normally tend to have higher ethical standards than family managers. Therefore, the growing professionalization of management has exercised a healthy influence on ethics in business. These days professionalism of management has been generating more ethics in the business.

Question 7. Write short notes on CSR? Answer: It is the responsibility of every form of business enterprise to act in a socially desirable manner. But the concept of CSR is corporate social responsibility used particularly with reference to a company. It may be defined as achieving commercial success in ways that honor ethical values and respect people, communities, and the natural environment. It means addressing the legal, ethical, commercial, and other expectations that society has from corporate who should take decisions and actions that fairly balance the claims of stake-holders. CSR is viewed as a comprehensive set of policies, practices, and programs that are integrated into business operations, supply claims, and decision-making processes throughout the company.

Question 8. List the environmental problems that cause damage to the natural environment? Answer: The United Nations has identified eight problems that cause damage to the natural environment.

• Ozone depletion
• Global warning
• Solid and hazardous wastes
• Water pollution
• Freshwater quality and quantity
• Deforestation
• Land degradation
• Danger to biological diversity.

Question 9. Define Corporate Governance? Answer: It is originated intheUnitedKingdomforthepurposeofimproved accountable to directors to shareholders, with emphasis on more transparent auditing and increased responsibilities of independent directors and division of roles of chairman and managing directors for safeguarding the interest of the shareholders.

Question 10. What are the main ground rules of ethics? Answer: The following are some rules which all human beings should follow in life.

• Be trustworthy
• Have respect for other
• Own responsibility
• Be fair in dealing
• Be caring towards well being of others.
• Prove to be a good citizen

Question 11. Write the effects of pollution? Answer: Pollution: The injection of harmful substances into the environment is called pollution. It changes the physical, chemical, and biological characteristics of air, land, and water. Pollution harms human life and the life of other species. It also degrades living conditions while wasting or depleting raw material resources. It also damages our historical monuments. It causes risks to the environment, human health and damage to natural and man-made resources.

Question 12. Give some examples of Business ethics. Answer:

• Giving enough dividends to the shareholder on their investment.
• Making goods available of good quality and quantity at a reasonable price.
• Making timely payments to the suppliers.
• Having healthy competition with the competitors.
• Observing the government laws and helping the government by paying taxes in time.
• Making employment to the society.
• Saving the environment from getting polluted.

Question 13. “The concept of social responsibility is ultimately in the interest of business community itself.” Do you agree? Explain. Answer: “The concept of social responsibility is ultimately in the interest of the business community itself. I agree with this statement because business is an organ of society and it operates in a socio-economic environment. It can justify its existence by fulfilling its obligations to society. No doubt business is an economic institution and it cannot survive without economic performance. But economic results depend upon the goodwill and support of the society’. Business gains support only when it assumes its social responsibilities.

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Important Questions for CBSE Class 11 Business Studies (2024-25)

• Class 11 Important Question
• Business Studies

CBSE Class 11 Business Studies Important Questions - Free PDF Download

Class 11 is the introduction of higher secondary education for the students. For commerce students, business study is an essential subject. They should read this subject sincerely for better higher education. Class 11 business studies syllabus contains vital topics. The students should read the syllabus including important questions for class 11 business studies. The chapter wise important questions are essential exam preparation tools, which will help in scoring good marks. In Class 11 , students are introduced to the commerce subjects, which they will have to study in their higher academic life.

Class 11 Business Studies comprises eleven chapters that cover important topics. These topics need the highest attention from the students to prepare. To assess their preparation level, they can download and solve the Class 11 Business Studies term 2 Important Questions with Solutions developed by the subject experts of Vedantu. Find the solutions to these questions and take a step ahead in your preparation.

CBSE Class 11 Business Studies Chapter-wise Important Questions 2024-25

Chapterwise Important Questions for CBSE Class 11 Business Studies

Class 11 Business Studies Syllabus

Central Board of Secondary Education (CBSE) has included business studies as a vital subject in the class 11 commerce curriculum. The syllabus of business studies includes introductory chapters of some vital topics. The students will get primary knowledge about some vital topics of business studies. The entire syllabus of business studies is divided into part A and part B. Part A is about business foundation knowledge, which contains 6 different units. Part B is about trading and financial knowledge contains 4 units. Each part of the syllabus carries equal division for the exam. The students should read both parts with equal sincerity. They should learn all the topics thoroughly for future convenience and good marks in the final exam. To score well in the exam, they should practice class 11 business studies important questions after completing the entire syllabus.

Class 11 Business Studies Part A

The first part of class 11 business studies includes 6 units about the foundation of the business. The units of part A are Business Evolution and Fundamentals, Different forms of Business Organizations, private, public and multinational business companies, service of business, Business emerging Modes, Business Ethics and Social Responsibility in Business. Here, we have discussed the units briefly.

1. Unit 1: Business Evolution And Fundamentals

The first unit has 8 chapters, which are commerce and trading history of India, definition, and characteristic of business, Profession and Employment concept of Business, Business Objective, Business Activity classification (commerce and industry), Industry Types in Business, the meaning of commerce-trade, Risk concept of Business. All these chapters are important for knowing the subject primarily.

2. Unit 2: Different Forms of Business Organizations

This unit contains 6 chapters about business organization. The chapters are the concept of a sole proprietorship, the concept of partnership, the concept of partnership, the concept of Hindu Undivided Family Business, concept of cooperative society, concept, and classification of company, stages of company Formation.

3. Unit 3: Private, Public, and Multinational Business Companies

The third unit of part business studies class 11 has two chapters. The chapters are the concept and difference of private and public sector, different forms of the public sector. This unit gives an idea of business sector types to the students.

4. Unit 4: Service of Business

This unit includes 3 different chapters about business services. The chapters of this unit are concepts of banking and account types, different forms of banking services and payments, concept and classification of Insurance. All these chapters include primary knowledge of different business services.

5. Unit 5: Business Emerging Modes

This unit has only one chapter about business emerging modes, which is E-business. In this chapter, the concept, features, benefits, and scopes of E-business are described in detail. The students should read this chapter as a vital topic for better knowledge of business studies.

6. Unit 6: Business Ethics And Social Responsibility In Business

The last unit of part A class 11 business studies includes 4 chapters. The chapters are the concept of social responsibility, case of social responsibility, different forms of business responsibility, the role of business in environment protection. The chapters of this unit inform about the ethics and responsibilities of business.

Class 11 Business Studies Part B

The second part of the class 11 business studies syllabus is about trading and financial knowledge business. This part contains four units about trading and financial knowledge. The units are Financial Source of Business, Enterprise, and small business, Internal trading, International Trading. All the units have many chapters. Here, we have discussed the units in a brief.

1. Unit 7: Financial Source of Business

The first unit of class 11 business studies part B has three chapters. The chapters are the concept of Finance in business, the concept of different business materials: owners’ funds, shares, receipts, the concept of borrowed funds. All three chapters give a rough idea of the financial sources and factors of the business.

2. Unit 8: Enterprise and Small Business

This unit has four different chapters about enterprise and small business. The chapters are concept and features of enterprise, classification of enterprise, the role of small business in India, Government schemes for enterprise and small business. The students should read these chapters for deep knowledge in business studies.

3. Unit 9: Internal Trading

This unit includes two chapters, which are the concept of internal trade and the concept of large-scale retailers. The first chapter defines the meaning and features of internal trading. In the second chapter, the students will learn about different stores on a large scale.

4. Unit 10: International Trading

The last unit of class 11 business studies part B has two chapters. In the first chapter, the students will learn the concept, features, and benefits of International Trading. The second chapter is the Definition and Objectives of the World Trade Organization (WTO). Both chapters are important for advancing knowledge in business studies.

Business Studies Class 11 Important Questions Chapter Wise

Class 11 business studies syllabus includes a huge number of chapters separated into different units. The students have to read all the chapters thoroughly to learn the topics correctly. They have to complete the entire syllabus and revise them within an academic year. That is why chapter wise important questions for class 11 business studies during revision. From the chapter wise important questions for class 11 business studies during revision. From the chapter wise important questions, the students will get a chapter insight as well as the question pattern. The chapter wise important questions will make the revision and exam preparation easier. Important questions for class 11 business studies are vital exam preparation tools.

Benefits of Important Questions for Class 11 Business Studies

The benefits of practicing chapter wise important questions are–

The students will get to know the question pattern.

The revision and exam preparation will be easier.

The students will achieve efficiency by practicing the questions repeatedly.

The students can practice the questions considering the time to increase time management capability.

Significance of CBSE Class 11 Business Studies term 2 Important Questions with Solutions

There are a total of 11 chapters in the Class 12 Business Studies syllabus . These chapters are based on important topics such as business, trade, commerce, modes of business, business services, company formation, international business, internal trade, etc.

The syllabus has been divided into two parts for the convenience of the students. To make the preparation of all the chapters on these two parts easier, students complete solving the exercises and then proceed to solve the important questions. These Important Questions for Class 11 Business Studies Board Exam have been framed by the top subject experts of Vedantu to cover the entire syllabus properly.

These questions come with proper solutions framed by the same experts to offer convenience in solving them. These solutions will aid the students to focus on the answering formats and how to use the concepts of this subject in a better way.

Hence, these important questions will enable students to test their preparation level and to find out how to solve fundamental questions to score more in the exams.

Advantages of CBSE Class 11 Business Studies Important Questions with Answers PDF

All 11 chapters have been approached individually to form separate files. These files can be found on the list here to download. Hence, you can add more convenience to your study sessions by accessing these files easily.

Resolve doubts on your own when you have the solutions for all these chapters here. These solutions will come in very handy when any query arises. You can answer those queries instantly and proceed with your preparation.

Focus on how the experts have used the simplest explanation of all the answers in the solutions. Learn from the formats and practice to answer all exam questions within the given time and score more.

Recall all the concepts and principles you have studied in these solutions easily and answer the questions accurately in an exam.

Solved Examples

1. Why is Insurance Known as the Tertiary Industry?

Solution: Insurance is a support service to the primary and secondary services. Tertiary industries are concerned with providing support services. The services are to primary and secondary industries as well as activities relating to trade, which provide service facilities. Therefore, insurance is known as the tertiary industry.

2. Categories the Following into Profession, Business, and Employment: Farmer, Clerk, Advocate, Hawker, Person Working in Repairing Shop, Doctor.

Farmer – Business

Clerk – Employment

Advocate – Profession

Hawker – Business

A person working in repairing shop – Employment

Doctor – Profession

3. Explain the Meaning of Unlimited Liability.

Solution: Unlimited liability refers to the indefinite extent of liability to pay a firm’s obligations, extending beyond the investments of the firm’s owners, partners, or shareholders to their assets. This extent of liability is supposed to be an unlimited liability company, which can be a sole proprietorship or general partnership.

4. A Special Act of Parliament Bought Which Public Sector Form Into Existence?

Solution: Statutory corporations are the special act of the parliament. The act defines its functions and powers, rules and regulations, and its relationship with departments of the government. They have the power of the government and a considerable amount of operating flexibility of private enterprises.

5. Define the Meaning of Banking.

Solution: A banking company is the one transacting the business of banking. It means accepting for investment and lending of deposits of money. The acceptance is from the repayable on demand, or the public, or otherwise and withdrawal by drafts, cheques, order, or otherwise. Basically, a bank accepts money repayable on demand, public, and also earns a profit by lending money.

6. Define Outsourcing.

Solution: Outsourcing is a long-term contracting out of the non-core and of late even some of the core activities. The captive or third-party specialists benefit from their experience, expertise, efficiency, and even investment.

7. Define the One Need for Social Responsibility.

Solution: A socially responsible company can create a company’s image and build its brand. By projecting a positive image, a company can make a name for not only being financially profitable but socially conscious as well.

8. What is the IEC Number?

Solution: ICE number refers to import export code number, which is obtained from the Directorate General Foreign Trade (DGFT) or Regional Import Export Licensing Authority. It is a prerequisite to obtaining an export license.

Download Class 11 Business Studies Important Questions with Answers PDF 2024-25

Get the free PDF versions of these questions for all the chapters. Focus on how you can make your preparation better by practising these questions. Learn to use the solutions and methods provided by the experts to grow your answering skills. Develop your concepts for Class 11 Business Studies and ace all the exams by becoming more confident.

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FAQs on Important Questions for CBSE Class 11 Business Studies (2024-25)

1. Explain 6 important factors that are to be considered for starting a business.

The 6 important factors that are to be considered for starting any business are as follows.

The Selection of Business Line: Select your business line wisely, that is, ensure the possibility of business growth and profitability when you select the nature and type of business.

The Size of the Business: Depending on the market demand and supply of your business products, select the size of your business. For high demands and fewer risk factors, select a large-scale business, and for high-risk factors select a small-scale business.

Choice of the Ownership Form: The type of ownership of your business depends on the line of business, capital requirements, legal formalities, the liability of owners, etc.

Location of the Business Firm: The location of the business firm depends upon the availability of labourers and raw materials.

Financing the Proposition: Financing the business proposition includes arranging the necessary capital for the business.

Physical Facilities: To start a business, it is important to check for the availability of machines, equipment, and other services.

Plant Layout: The layout of the business details has to be chalked out well in advance.

Competent Workforce: Arranging for a competent workforce is one of the basic necessities for starting a business. The growth of the business depends greatly on the workforce.

Tax Planning: Proper tax planning is necessary for every business, be it large-scale or small-scale.

Launching a Business Firm: With all the above factors taken care of, the business or the enterprise can be launched successfully.

2. What are the types of a service business?

There are three types of service businesses or enterprises, and they are as follows.

Micro Enterprises: The investment in the business equipment is within 10 lac rupees. 

Small Enterprises: The investment in the business equipment is between 10 lacs and 2 crores rupees.

Medium Enterprises: The investment in the business equipment is between 2 and 5 crore rupees.

3. Give two advantages of supermarkets.

The two advantages of supermarkets are as follows.

Sales are all carried out in cash or cards, leaving no chances of debts.

A wider variety of goods are available in the supermarkets, making it more likely for the buyers to end up making a purchase.

4. Are the important questions for CBSE Class 11 Business Studies beneficial for exam preparation?

Yes, the important questions for CBSE Class 11 Business Studies available on Vedantu are highly beneficial for exam preparation. Our in-house team of subject matter experts has curated and prepared these questions and solutions after making a detailed study of the entire syllabus of Class 11 Business Studies. The important questions from each chapter are arranged in a separate PDF file, for the convenience of students. You can download these files for free from Vedantu and refer to them for effective learning. These important questions also make an excellent study material for the Class 11 Business Studies examination. Therefore, download the PDF files and revise all the topics of Class 11 Business Studies by referring to these important questions and answers.

5. Where can I get the list of Important Questions of Class 11 Business Studies?

When looking for important questions for Class 11 Business Studies, the best place to be at is Vedantu’s e-platform. Students can find accurately chosen and explained questions that are important to prepare before their Class 11 Business Studies exams. The solutions for these questions have been carefully crafted by subject experts at Vedantu. The important questions and their solutions can be downloaded free of cost by students for offline access. You can also easily access them from Vedantu’s website. These solutions are available at free of cost on Vedantu(vedantu.com) and mobile app.

6. What are the chapters covered in Important Questions for Class 11 Business Studies?

Important Questions for CBSE Class 11 Business Studies provided by Vedantu cover the following chapters:

Chapter 1 - Business, Trade and Commerce

Chapter 2 - Forms of Business Organisation

Chapter 3 - Private, Public and Global Enterprises

Chapter 4 - Business Services

Chapter 5 - Emerging Modes of Business

Chapter 6 - Social Responsibilities of Business and Business Ethics

Chapter 7 - Formation of a Company

Chapter 8 - Sources of Business Finance

Chapter 9 - Small Business

Chapter 10 - Internal Trade

Chapter 11 - International Business

7. How many books are there for Class 11 Business Studies?

The Central Board of Secondary Education (CBSE) prescribed only one book for Class 11 Business Studies. This book has been published by NCERT and it is available in both English and Hindi mediums. There are a total of 10 chapters in this book divided into two parts. Part A contains six units that discuss knowledge about the business foundation and part B consists of the remaining four units that talk about financial and trading knowledge.

8. What are the most important chapters in Class 11 Business Studies?

The syllabus for Class 11 Business Studies contains a total of 10 chapters. Out of these, the most important chapters are Chapter 7 - Sources of Business Finance, Chapter 8 - Small Business, Chapter 9 - Internal Trade, and Chapter 10 - International Business. These are considered important since they contain higher weightage than all other chapters in the syllabus. Students can refer to Important Questions for CBSE Class 11 Business Studies for better preparation of these chapters.

9. What is meant by Banking?

As discussed in Class 11 Business Studies, banking is the term given to all activities related to business that involve accepting and safekeeping money owned by other entities for the purpose of lending or investment. The money that is deposited is also repayable on demand or otherwise, and withdrawable by cheque, order, draft, etc. It is an important service facilitating the economy by offering people an opportunity to save.

Important Questions for CBSE Class 11

Cbse class 11 study materials, home tuitions in india.

NCERT Solutions for Class 11 Business Studies

Cbse class 11 business studies solutions guide.

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CBSE Class 11 Business Studies Textbook Solutions

Questions and answers for the Class 11 Business Studies Textbook are on this page. NCERT Solutions for Class 11 Business Studies Digest CBSE will help students understand the concepts better.

NCERT Solutions for Class 11 Business Studies Chapterwise List | Class 11 Business Studies Digest

The answers to the NCERT books are the best study material for students. Listed below are the chapter-wise NCERT Business Studies Class 11 Solutions CBSE.

•  • Chapter 1: Business, Trade and Commerce
•  • Chapter 2: Forms of Business Organisation
•  • Chapter 3: Private, Public and Global Enterprises
•  • Chapter 4: Business Services
•  • Chapter 5: Emerging Modes of Business
•  • Chapter 6: Social Responsibilities of Business and Business Ethics
•  • Chapter 7: Formation of a Company
•  • Chapter 8: Sources of Business Finance
•  • Chapter 9: Small Business and Entrepreneurship
•  • Chapter 10: Internal Trade
•  • Chapter 11: International Business
• Commerce (English Medium) Class 11 CBSE
• Arts (English Medium) Class 11 CBSE

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NCERT Class 11 solutions for other subjects

• NCERT solutions for Biology Class 11
• NCERT solutions for Biology Class 11 [जीव विज्ञान ११ वीं कक्षा]
• NCERT solutions for Chemistry Part 1 and 2 Class 11
• NCERT solutions for Chemistry Part 1 and 2 Class 11 [रसायन विज्ञान भाग १ व २ कक्षा ११ वीं]
• NCERT solutions for Accountancy - Financial Accounting Class 11
• NCERT solutions for Computer Science Class 11
• NCERT solutions for Introductory Microeconomics - Textbook in Economics for Class 11
• NCERT solutions for Economics - Statistics for Economics Class 11
• NCERT solutions for Ncert Class 11 English (Core Course) - Hornbill
• NCERT solutions for Ncert Class 11 English (Core Course) - Snapshots
• NCERT solutions for Ncert Class 11 English (Elective Course) - Woven Words
• NCERT solutions for Geography - Fundamentals of Physical Geography Class 11
• NCERT solutions for Geography - India Physical Environment Class 11
• NCERT solutions for Geography - Practical Work in Geography Class 11
• NCERT solutions for Geography Class 11 [भूगोल - भौतिक भूगोल के मूल सिद्धांत ११ वीं कक्षा]
• NCERT solutions for Ncert Class 11 History - Themes in World History
• NCERT solutions for Ncert Class 11 Political Science - Indian Constitution at Work
• NCERT solutions for Ncert Class 11 Political Science - Political Theory
• NCERT solutions for Ncert Class 11 Psychology
• NCERT solutions for Ncert Class 11 Sociology - Introducing Sociology
• NCERT solutions for Ncert Class 11 Sociology - Understanding Society
• NCERT solutions for Economics Class 11 [अर्थशास्त्र - अर्थशास्त्र में सांख्यिकी ११ वीं कक्षा]
• NCERT solutions for Economics - Introductory Microeconomics Class 11 CBSE [अर्थशास्त्र - व्यष्टि अर्थशास्त्र एक परिचय परिचय ११ वीं कक्षा]
• NCERT solutions for Geography Class 11 [भूगोल - भारत: भौतिक पर्यावरण ११ वीं कक्षा]
• NCERT solutions for Geography Class 11 [भूगोल - भूगोल में प्रयोगात्मक कार्य ११ वीं कक्षा]
• NCERT solutions for Hindi - Aaroh Class 11 [हिंदी - आरोह ११ वीं कक्षा]
• NCERT solutions for Hindi - Antara Class 11 [हिंदी - अंतरा ११ वीं कक्षा]
• NCERT solutions for Hindi - Vitan Class 11 [हिंदी - वितान ११ वीं कक्षा]
• NCERT solutions for History Class 11 [इतिहास - विश्व इतिहास के कुछ विषय ११ वीं कक्षा]
• NCERT solutions for Mathematics Class 11
• NCERT solutions for Mathematics Class 11 [गणित ११ वीं कक्षा]
• NCERT solutions for Physics Part 1 and 2 Class 11
• NCERT solutions for Physics Class 11 (Part 1 and 2) [भौतिकी भाग १ व २ कक्षा ११ वीं]
• NCERT solutions for Political Science Class 11 [राजनीति विज्ञान - भारत का संविधान सिद्धांत और व्यवहार ११ वीं कक्षा]
• NCERT solutions for Political Science Class 11 [राजनीति विज्ञान - राजनीतिक सिद्धांत ११ वीं कक्षा]
• NCERT solutions for Psychology Class 11 [मनोविज्ञान ११ वीं कक्षा]
• NCERT solutions for Sanskrit - Bhaswati Class 11 [संस्कृत - भास्वती कक्षा ११]
• NCERT solutions for Sanskrit - Sahitya Parichay Class 11 and 12 [संस्कृत - साहित्य परिचय कक्षा ११ एवं १२]
• NCERT solutions for Sanskrit - Shashwati Class 11 [संस्कृत - शाश्वत कक्षा ११]
• NCERT solutions for Sociology Class 11 [समाजशास्त्र - समाज का बोध ११ वीं कक्षा]
• NCERT solutions for Sociology Class 11 [समाजशास्त्र - समाजशास्त्र परिचय ११ वीं कक्षा]

Chapters covered in NCERT Solutions for Class 11 Business Studies

Ncert solutions for class 11 business studies (11th) chapter 1: business, trade and commerce, ncert class 11 business studies (11th) chapter 1: business, trade and commerce exercises.

NCERT Solutions for Class 11 Business Studies (11th) Chapter 2: Forms of Business Organisation

Ncert class 11 business studies (11th) chapter 2: forms of business organisation exercises.

NCERT Solutions for Class 11 Business Studies (11th) Chapter 3: Private, Public and Global Enterprises

Ncert class 11 business studies (11th) chapter 3: private, public and global enterprises exercises.

NCERT Solutions for Class 11 Business Studies (11th) Chapter 4: Business Services

Ncert class 11 business studies (11th) chapter 4: business services exercises.

NCERT Solutions for Class 11 Business Studies (11th) Chapter 5: Emerging Modes of Business

Ncert class 11 business studies (11th) chapter 5: emerging modes of business exercises.

NCERT Solutions for Class 11 Business Studies (11th) Chapter 6: Social Responsibilities of Business and Business Ethics

Ncert class 11 business studies (11th) chapter 6: social responsibilities of business and business ethics exercises.

NCERT Solutions for Class 11 Business Studies (11th) Chapter 7: Formation of a Company

Ncert class 11 business studies (11th) chapter 7: formation of a company exercises.

NCERT Solutions for Class 11 Business Studies (11th) Chapter 8: Sources of Business Finance

Ncert class 11 business studies (11th) chapter 8: sources of business finance exercises.

NCERT Solutions for Class 11 Business Studies (11th) Chapter 9: Small Business and Entrepreneurship

Ncert class 11 business studies (11th) chapter 9: small business and entrepreneurship exercises.

NCERT Solutions for Class 11 Business Studies (11th) Chapter 10: Internal Trade

Ncert class 11 business studies (11th) chapter 10: internal trade exercises.

NCERT Solutions for Class 11 Business Studies (11th) Chapter 11: International Business

Ncert class 11 business studies (11th) chapter 11: international business exercises.

Class 11 is one of the most overlooked academic years, but it is one of the most important ones, as it's a prelude to the following academic year, where students must appear for their board exams. Students need to use class 11 wisely and lay a strong foundation for what awaits them the following year without losing sight of the current academic year. Providing superior and reliable study material, such as NCERT Class 11 Business Studies, is essential to aid and assist students in achieving academic success. It is widely known that when students can access excellent books such as NCERT Business Studies Class 11 Solutions guide, they can go beyond their abilities to succeed.

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NCERT Solutions for Class 11 Business Studies CBSE

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NCERT Solutions for Business Studies Class 11

NCERT Solutions for Class 11 Business Studies provide a wide range of concepts and introduction to the subject that include all the questions provided in the NCERT books. Business Studies is a curriculum subject that adopts areas like marketing, accounting and economics. Its study amalgamates the concepts of finance, marketing, accountancy, economics and organisational studies. Business Studies is a comprehensive subject in Social Science, allowing the meticulous study of a span of skills, such as finance, organisation, accountancy, marketing and human resources management. Students can understand all of these without any confusion from the NCERT Class 11 Solutions at BYJU’S.

NCERT Solutions for Class 11 Business Studies chapter-wise is given below.

A study of business is an expanse of focus within an academic agenda taught at an academic establishment, which occurs mainly around some characteristics of the conduct of business at the community level, national or universal marketplace.

Students attain good scores in their examinations when they are provided with the best books. Some of the prominent best books are NCERT Solutions for Class 11 Business Studies. NCERT Class 11 syllabus is a valuable resource for students. Business Studies are taught in various countries like Argentina, Brazil, Canada, India, Ireland, Singapore, South Africa, the United Kingdom (UK), and Zimbabwe.

The above-mentioned is the syllabus for the Class 11 CBSE syllabus. For more solutions and study materials of NCERT Solutions for Class 11 Business Studies, visit BYJU’S or download the app for more information and the best learning experience.

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MCQ Questions Class 11 Business Studies Chapter 6 Social Responsibilities of Business and Business Ethics with Answers

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Free PDF Download of CBSE Class 11 Business Studies Chapter 6 Social Responsibilities of Business and Business Ethics Multiple Choice Questions with Answers.Based on Latest Exam Pattern. Students can solve MCQ NCERT Class 11 Business Studies Chapter 6 Social Responsibilities of Business and Business Ethics Multiple Choice Questions with Answers to know their preparation level.

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Social Responsibilities of Business and Business Ethics Class 12 MCQs Questions with Answers

Class 11 Business Studies Chapter 6 Social Responsibilities of Business and Business Ethics MCQ Questions with Answers

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1. Corporate social responsibility that extends beyond legal mandates can help meet societal expectations in the absence of

2. Which of the following can explain the need for pollution control?

3. The hand-of-government refers to the

4. Which one of the following is not principle business ethics?

5. Which of the following statements about ethical standards are TRUE?

6. Social responsibility is

7. Which statement is true?

8. If business is to operate in a society which is full of diverse and complicated problems, it may have

9. Business people have the skills to solve

10. Ethics deals with the right actions of individuals.” Who said?

11. Which of the following is capable of doing maximum good to society?

12. According to the concept of moral intensity, a worker is most likely to behave ethically and legally when

13. Environmental protection can best be done by the efforts of

14. That an enterprise must behave as a good citizen is an example of its responsibility towards

15. Carbon monoxide emitted by automobiles directly contributes to

16. Which of the following alone can ensure effective ethics programme in a business enterprise?

17. Ethics is important for

18. If you believe in making decisions for the good of most people, you can be described as following which school of thought?

19. The national Society of Professional Engineers had a code, which requires professionals to

20. Which of the following does not contribute to the development of a manager’s standard of ethics?

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Class 11th Business Studies - Business Service Case Study Questions and Answers 2022 - 2023

By QB365 on 09 Sep, 2022

QB365 provides a detailed and simple solution for every Possible Case Study Questions in Class 11 Business Studies Subject - Business Service, CBSE. It will help Students to get more practice questions, Students can Practice these question papers in addition to score best marks.

QB365 - Question Bank Software

Business service case study questions with answer key.

11th Standard CBSE

Final Semester - June 2015

Business Studies

Demonetization in India led to the need for cashless economy. It had a great impact on banking industry. Banks were overflowing with old currency on the one hand and were in cash crisis for new currency. Gradually the problem smoothened but now a hawker and peddler are accepting Paytm, mpesa and other forms of digital cash. Promotion of "mera mobile mera batuaa" concept motivated even the cobbler, hair cutters, vegetable and fruit vendors and other small service providers to accept digital cash and cashless forms. Popularity of plastic money (debit and credit cards) also increased. (a) In the light of above facts, discuss the importance of banking in business and trade. (b) How will demonetization create new aids to trade?

Sanjana obtained a life insurance policy of her husband. After 5 years, her husband dies of cancer. At the time of policy also Sanjana and her husband were aware of the disease but they did not disclose it to the insurance company. (a) Can she claim the amount of policy from the insurance company? (b) Identify the principle of insurance involved. (c) Explain two more principles of insurance.

A person gets his house insured, but he hides the fact that he stores petrol in his house. His house catches fire. He does not bother to minimize the loss as he felt that his house is insured so it is not his headache to make an effort to minimize the loss. (a) Can he claim compensation? (b) State the name of principles involved. (c) Explain these principles.

Mr. X applied for a loan from State Bank of India to expand his shop under Pradhan Mantri Mudra Yojna. Later he purchased a home by taking a home loan from bank. Then he purchased a car on EMI financed by a bank. He also has a saving account with the bank. All his EMIs are getting deducted from his saving account. He has also taken a locker facility from the bank where he keeps his important documents and valuables. (a) Identify primary functions of commercial bank that Mr. X is availing of. (b) Identify agency functions of commercial bank Mr. X is availing of. (c) Identify general utility functions of commercial bank Mr. X is availing of.

One fine day, government announced some policy which was against the interests of truck drivers. As a result, all truck drivers went on strike. Strike continued for three days. It created a calamity kind of situation in the country. People started facing problems even for basic needs. Businesses had to pay labour without work. Many factories could not•..be operational. Many others had to send goods at a higher price to maintain their market. It led to rise in prices of even basic goods. Ultimately government has to accept the demands of truck drivers so that they discontinue the strike. (a) In the light of above facts, discuss importance of transportation in business and trade. (b) How can transportation strike create calamity kind of situation?

Shilpi is planning to start a business. She is having a place where she will establish her factory. But she has no space for warehouse. She is under an impression that she must have a private warehouse if she wants to run business successfully. She is not having enough funds to own a private warehouse. (a) Is she right in her opinion? (b) What are other options she has?

*****************************************

Business service case study questions with answer key answer keys.

(a) Banking is very important for business and trade. It helps in transfer of funds in transactions. Modern means of transfer of funds include: • Debit cards • Credit cards • NEFT • Mobile banking • Digital cash. (b) Digital cash like Paytm, Mpesa etc are new aids to trade.

(a) No, he cannot claim the compensation. (b) Principle of utmost good faith is not followed.   According to this principle, it is the duty of the insurer and insured to voluntarily make full accurate disclosure of all facts, material to the insurance contract. (c) Principle of indemnity: Indemnity means security or compensation against loss or damage. The principle of indemnity is such principle of insurance stating that an insured may not be compensated by the insurance company in an amount exceeding the insured's economic loss. In type of insurance, the insured would be compensation with the amount equivalent to the actual loss and not the amount exceeding the loss. This is a regulatory principal. This principle is observed more strictly in property insurance than in life insurance. The purpose of this principle is to set back the insured to the same financial position that existed before the loss or damage occurred. Principal of subrogation: The principle of subrogation enables the insured to claim the amount from the third-party responsible for the loss. It allows the insurer to pursue legal methods to recover the amount of loss, For example, if you get injured in a road accident, due to reckless driving of a third party, the insurance company will compensate your loss and will also sue the third party to recover the money paid as claim.

(a) No, he cannot claim the compensation (b) Principle of utmost good faith (c) Principle of utmost good faith is not followed:  According to this principle, it is the duty of the insurer and insured to voluntarily make full accurate disclosure of all facts, material to the insurance contract. Principle of mitigation: If refers that the insured should try to minimize the loss of the subject matter of the insurer even if it is insured.

(a) (i) Accepting of Deposits: He also has a saving account with the bank. (ii) Granting of Loans: Mr. X applied for a loan from State Bank of India to expand his shop under Pradhan Mantri Mudra Yojna. Later he purchased a home by taking a home loan from bank. Then he purchased a car on EMI financed by a bank. (b) Payments and Acceptance of collections on behalf of client: All his EMIs are getting deducted from his saving account. (c) Locker Facility: He has also taken a locker facility from the bank where he keeps his important documents and valuables.

(a) Transportation is extremely important for business and trade. (i) Transportation removes the hindrance of place and makes goods available to the consumer from the place of production. It helps a factory or business house to get raw material and sell finished goods to the final consumer. (ii) It helps to stabilize prices by moving the goods from the place where they are in excess supply to the place where they are scarce. Transportation removes the hindrance of place and makes goods available to the consumer from the place of production. (iii) Transportation is required in the process of production and distribution offinished goods to market. (iv) Efficient transportation reduces the cost of production and distribution and thereby the selling price of a product - Low price - mass consumption. (v) It helps to stabilize prices by moving the goods from the place where they are in excess supply to the place where they are scarce. (b) When basic needs like fruits, vegetables, milk etc are not available, it creates calamity kind ofsituation. Household do not get basic needs. Business houses are not getting raw material and are unable to sell their finished goods. Certainly it creates calamity kind of situation in the country.

(a) No, she is not right. (b) She has following two options (i) Public warehouse: Govt. regulates their operation by issuing licenses for them to private parties. They can be used for storage of goods by traders, manufacturers or public after payment of fees. (ii) Cooperative warehouse: Owned, managed and controlled by some marketing cooperative societies for their own members. In India, the National Cooperative Development cooperation is developing co-operative warehouse.

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