CBSE Class 11 Business Studies — Notes, Solutions & Papers

Theory: 80 Marks 3 Hours

Project: 20 Marks

2 Forms of Business Organisations

4 Business Services

6 Social Responsibility of Business and Business Ethics

Total 40

8 Small Business

10 International Business

Total 40

Project Work (One) 20

Concept includes meaning and features

Content After going through this unit, the student/ learner would be able to: History of Trade and Commerce in India: Indigenous Banking System, Rise of Intermediaries, Transport, Trading

Communities: Merchant Corporations, Major Trade Centres, Major Imports and Exports, Position of Indian Sub-Continent in the World Economy • To acquaint the History of Trade and Commerce in India Business – meaning and characteristics • Understand the meaning of business with special reference to economic and non-economic activities. • Discuss the characteristics of business. Business, profession and employment – Concept • Understand the concept of business, profession and employment. • Differentiate between business, profession and employment. Class-XI (2026-27) Objectives of business • Appreciate the economic and social objectives of business. • Examine the role of profit in business. Classification of business activities - Industry and Commerce • Understand the broad categories of business activities- industry and commerce.

Industry-types: primary, secondary, tertiary Meaning and subgroups • Describe the various types of industries.

Commerce-trade: (types-internal, external; wholesale and retail) and auxiliaries to trade; (banking, insurance, transportation, warehousing, communication, and advertising) – meaning • Discuss the meaning of commerce, trade and auxiliaries to trade. • Discuss the meaning of different types of trade and auxiliaries to trade. • Examine the role of commerce- trade and auxiliaries to trade. Business risk-Concept • Understand the concept of risk as a special characteristic of business. • Examine the nature and causes of business risks.

Sole Proprietorship-Concept, merits and limitations • List the different forms of business organizations and understand their meaning. • Identify and explain the concept, merits and limitations of Sole Proprietorship. Partnership-Concept, types, merits and limitation of partnership, registration of a partnership firm, partnership deed. Types of partners • Identify and explain the concept, merits and limitations of a Partnership firm. • Understand the types of partnership on the basis of duration and on the basis of liability. • State the need for registration of a partnership firm. • Discuss types of partners –active, sleeping, secret, nominal and partner by estoppel. Hindu Undivided Family Business: Concept • Understand the concept of Hindu Undivided Family Business. Cooperative Societies-Concept, merits, and limitations. • Identify and explain the concept, merits and limitations of Cooperative Societies. • Understand the concept of consumers, producers, marketing, farmers, credit and housing co- operatives. Company - Concept, merits and limitations;

Types: Private, Public and One Person Company – Concept • Identify and explain the concept, merits and limitations of private and public companies. • Understand the meaning of one person company. • Distinguish between a private company and a public company. Formation of company - stages, important documents to be used in formation of a company • Highlight the stages in the formation of a company. • Discuss the important documents used in the various stages in the formation of a company. Choice of form of business organization • Distinguish between the various forms of business organizations. • Explain the factors that influence the choice of a suitable form of business organization.

Public sector and private sector enterprises – Concept • Develop an understanding of Public sector and private sector enterprises Forms of public sector enterprises: Departmental Undertakings, Statutory Corporations and Government Company • Identify and explain the features, merits and limitations of different forms of public sector enterprises Global Enterprises – Feature Joint venture Public private partnership – concept • Develop an understanding of global enterprises, public private partnership by studying their meaning and features.

Business services – meaning and types.

Banking: Types of bank accounts - savings, current, recurring, fixed deposit and multiple option deposit account • Understand the meaning and types of business services. • Discuss the meaning and types of Business service Banking • Develop an understanding of difference types of bank account. Banking services with particular reference to Bank Draft, Bank Overdraft, Cash credit.

E-Banking: meaning, types of digital payments • Develop an understanding of the different services provided by banks Insurance – Principles. Types – life, health, fire and marine insurance – concept • Recall the concept of insurance • Understand Utmost Good Faith, Insurable Interest, Indemnity, Contribution, Doctrine of Subrogation and Causa Proxima as principles of insurance • Discuss the meaning of different types of insurance-life, health, fire, marine insurance. Postal Service - Mail, Registered Post, Parcel, Speed Post, Courier - meaning • Understand the utility of different telecom services

E - business: concept, scope and benefits • Give the meaning of e-business. • Discuss the scope of e-business. • Appreciate the benefits of e- business • Distinguish e-business from traditional business.

Concept of social responsibility • State the concept of social responsibility. Case of social responsibility • Examine the case for social responsibility. Responsibility towards owners, investors, consumers, employees, government and community • Identify the social responsibility towards different interest groups. Role of business in environment protection • Appreciate the role of business in environment protection. Business Ethics - Concept and Elements • State the concept of business ethics. • Describe the elements of business ethics.

Concept of business finance • State the meaning, nature and importance of business finance. Owners’ funds- equity shares, preferences share, retained earnings • Classify the various sources of funds into owners’ funds. • State the meaning of owners’ funds.

Borrowed funds: debentures and bonds, loan from financial institution and commercial banks, public deposits, trade credit, Inter Corporate Deposits (ICD) • State the meaning of borrowed funds. • Discuss the concept of debentures, bonds, loans from financial institutions and commercial banks, Trade credit and inter corporate deposits. • Distinguish between owners’ funds and borrowed funds.

Entrepreneurship Development (ED): Concept, Characteristics and Need. Process of Entrepreneurship Development: Start-up India Scheme, ways to fund start-up. Intellectual Property Rights and Entrepreneurship • Understand the concept of Entrepreneurship Development (ED), Intellectual Property Rights Small scale enterprise as defined by MSMED Act 2006 (Micro, Small and Medium Enterprise Development Act) • Understand the meaning of small business Role of small business in India with special reference to rural areas • Discuss the role of small business in India Government schemes and agencies for small scale industries: National Small Industries Corporation (NSIC) and District Industrial Centre (DIC) with special reference to rural, backward areas • Appreciate the various Government schemes and agencies for development of small scale industries. NSIC and DIC with special reference to rural, backward area.

Internal trade - meaning and types services rendered by a wholesaler and a retailer • State the meaning and types of internal trade. • Appreciate the services of wholesalers and retailers. Types of retail-trade-Itinerant and small scale fixed shops retailers • Explain the different types of retail trade. Large scale retailers-Departmental stores, chain stores – concept • Highlight the distinctive features of departmental stores, chain stores and mail order business.

GST (Goods and Services Tax): Concept and key-features • Understand the concept of GST

International trade: concept and benefits • Understand the concept of international trade. • Describe the scope of international trade to the nation and business firms. Export trade – Meaning and procedure • State the meaning and objectives of export trade. • Explain the important steps involved in executing export trade. Import Trade - Meaning and procedure • State the meaning and objectives of import trade. • Discuss the important steps involved in executing import trade. Documents involved in International Trade; indent, letter of credit, shipping order, shipping bills, mate’s receipt (DA/DP) • Develop an understanding of the various documents used in international trade. • Identify the specimen of the various documents used in international trade. • Highlight the importance of the documents needed in connection with international trade transactions World Trade Organization (WTO) meaning and objectives • State the meaning of World Trade Organization. • Discuss the objectives of World Trade Organization in promoting international trade.

As per CBSE guidelines. Suggested