INTEGRATED ASSIGNMENT B.

st- Chapter 1- Class XI

LEVEL 1

1. Which of the following is/are treated as Auxiliaries to Trade?

(a) Banking Industry
(b) Insurance Industry
(c) Transportation Industry
(d) All of the above
2. The reward of risk is:
(a) Success (b) Failure (c) Profit (d) Loss

3. Which of the following does not characterize business activity :

(a) Production of goods and services
(b) Presence of risk
(c) Sale or Exchange of goods and services
(d) Salary or wages

4. Name the two broad categories of business activities.

(a) Trade and commerce
(b) trade and industry
(c) industry and commerce
(d) none of these

5. Which of the broad categories of industries covers oil refineries and sugar mills?
(a) Primary (b) Secondary (c) Tertiary (d) None of these

SHORT QUESTIONS:
1. Explain the meaning and characteristics is Business.
2. What are the causes of Business Risk?

LEVEL 2

1. Ruchi is a practicing Chartered Accountant. She has her C.A. Firm at Hyderabad,
Telangana. She deals in providing Income Tax and GST related services to her
clients against very reasonable consultancy fees. She has her own professional
coaching classes for C.A. Enrolled Students. Identify the types of economic
activities performed by Ruchi as referred in the above case.
(A) Business (B) Profession (C) Employment (D) None of the above

2. Dell Inc is a company involved in manufacturing of Computer and related items. It’s
a very popular name among the computer savvy youth in India. There are different
models of Desktop, Laptop, Tabs, Gaming and Workstations manufactured and sold
 by the company in the Indian market. Which type of Industry highlighted in the
above case?
(A) Genetic Industry (B) Extractive Industry (C) Processing Industry

(D) Assembly Industry

3. Nutan General Store is a big businessman deals in selling Nestle products in his
locality. He purchased products of Nestle directly from the State Distributor in bulk
quantities and sold in the market. Small shopkeepers from different corners of the
city. Identify the type of trade followed by Nutan General Store.
(A) Wholesale Trade (B) Retail Trade (C) International Trade (D) Entrepot Trade

4. Banking, Insurance, Transportation, Warehousing, Communication and Advertising

help in elimination of hindrances of place, time, money, risk and information
occurred during the course of business. These are popularly termed as:
(A) Trade (B) Employment (C) Commerce (D) Auxiliaries to Trade

5. Assertion (A) Business represents exchange of Goods and Services. Reason (R) Risk
and Uncertainties are always there with any form of business.
Which option is correct:
(A) Both A and R are true. R is the correct explanation of A
(B) Both A and R are true, but R is not the correct explanation of A
(C) A is correct, but R is incorrect
(D) A is incorrect, but R is correct

6. MATCH THE FOLLOWING:

COLUMN I COLUMN II

A Farmer I ) Profession
B Lawyer ii ) Employment
C Manager iii) Business
a)A- i), B-ii) ,C- iii) b) A- ii), B-i), C-iii)

c) A-iii), B-i), C-ii) d) A-i), B-iii), C-ii)

LEVEL 3:

I. Read the following Case study and answer the questions:

Sankalp is a successful entrepreneur dealing in Automobile sector especially with Two

Wheelers at Ahmedabad. He has been constantly earning good profit from his business and
investing surplus towards expansion of his business. All the latest Two Wheeler models are
available at his showroom. His marketing and sales team are managed to create new
customers from time to time. His unique style of business management has brought him
success.

1. Name the type of Business activity in which Sankalp is involved?

(A) Tertiary industries (B) Secondary industries (C) Trade (D) Auxiliaries to trade

2. Name the type of economic activities performed by Sankalp.

(A) Business (B) Profession (C) Employment (D) Religious Movement

3. Which type of objectives followed by the entrepreneur?

(A) Economic Objective (B) Social Objective

(C) Organizational Objective (D) Management Objective

4. Which of the following points are involved in the objective identified in part (b) above?

(A) Profit Earning (B) Creating Customers (C) Innovation (D) All of the above

II. Read the following Case study and answer the questions:

Maninder, Surinder and Balbinder and Harinder pursued their Masters Degree in Business
Management from a reputed institute of Delhi. After completion of their studies, all of them
got engaged in different fields. Maninder got a job at an Oil Refinery Industry as a Junior
Executive Finance. Surinder joined his family business of Textile Industry at Jalandhar,
Punjab. Balbinder opened his own Dairy Firm and Harinder join construction business

1 Name the type of industry Mr. Maninder worked in reference to the above line:. (A)
Genetic Industry (B) Extractive Industry (C) Territory Industry (D) Assembling Industry

2. Indentify the type of industry Mr. Surinder worked with as highlighted in the above case.

(A) Analytical Industry (B) Synthetic Industry (C) Processing Industry (D) Assembly
Industry

3. Which type of industry Mr. Balbinder started after his studies as referred in the above
case?

(A) Genetic Industry (B) Processing Industry (C) Territory Industry (D) Manufacturing
Industry

4. Indentify the type of industry Mr. Harinder worked with as highlighted in the above case.

(A) Primary Industry (B) Secondary Industry (C) Tertiary Industry (D) None of Above

III. What provides the necessary link between producers & consumers with
all those activities which are necessary for maintaining a free flow of goods &
services? Discuss all those activities.
OR
In business activities, there are some activities that are involved in the
removal of hindrances in process of exchange i.e. from the producer to the
consumer. Identify them. Also classify the activities which help in removing
the following hindrances:
(i)Hindrance of place (ii) Hindrance of risk (iii) Hindrance of time (iv)
Hindrance of finance (v) Hindrance of information
OR
Tea is mainly produced in Assam, while cotton in Gujarat & Maharashtra but
they are required for consumption in different parts of the country. How can
this hindrance of place be removed? Also under what business activity will it
be categorised.
OR
Commerce is the sum total of activities that remove hindrances in the free
flow of goods from producers to consumers. Explain.
OR
How do traders remove the hindrance of person?

IV. Jawaharlal prepares ‘Ghujiya’ for customers during Holi season every
year. He prepared more ‘Ghujiya’ than he could sell this year. He employed
women and children also and paid them less salary manufacturing on the
packages. This way he generated profit for himself.
(a) Do you think he is fulfilling all the objectives of business?
(b) If not which aspects of this objective is not being fulfilled?