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MCQ Questions for Business Studies Class 11

Chapter-Wise Business Studies Class 11

About MCQ Questions for Business studies for class 11 

The business studies page is created by the subject matter experts of home-tution.com and consists of all the academic resources required for the subject business study. This page consists of notes, questions and a syllabus of Business study. A business studies is one of the most important subjects for commerce students and it needs a lot of practice to score good marks in this subject apart from the right theory in the understanding of the subject. To excel you in Business studies subject we have uploaded all the academic resources which are required to score good marks not only in school exams but also in the competitive entrance exams. 

What are the characteristics of business risk?

The nature of business risks shall be clear from the following features: -

1. Uncertainty gives rise to business risk: - Uncertainty is an important feature of any business. Fluctuations in demand or prices, the possibility of book debts turning into bad debts, wrong estimates of demand and supply, changes in Government policies, improvements in technology etc. are some of the examples of uncertainty, that influence the business.

2. Risk is an essential element: -

No business can be run without some element of risk in its business means assuming risk.

3. Reward for undertaking risks in profit: -“ No risk, no gain” is an important principle which applies to all types of business. An entrepreneur assumes risks and in consideration, he gets a reward that is profit.

3. Degree of risk depends upon the nature of business: -

The nature of business and the volume of operations determine the degree of risk. For instance, a business dealing in fashionable items has a higher degree of risk, as the current fashion may not last long.

Top 7 Books for Business Students Class 11 which every student must read

The best books for the Business study you must read our

1. Crossing the Chasm by Geoffrey Moore

2. Zero to One by Peter Thiel

3. The Hard Thing About Hard Things by Ben Horowitz

4. How to Win Friends and Influence People by Dale Carnegie

5. The 7 Habits of Highly Effective People by Stephen Covey

6. The Essays of Warren Buffett by Warren Buffett (edited by Lawrence Cunningham)

7. Make Reading Business Books a Regular Habit

How to strengthen my Business Studies subject in class 11

Business studies is a field that includes topics like finance, marketing, and accounting. Its research combines ideas from modern organisations, marketing, accounting, and economics. A thorough subject in the social sciences, business studies allows the thorough consideration of a broad range of abilities, including financial management, planning, organisation, accounting, marketing, and managing human resources. Business studies are important for daily life and have a serious influence on how we view cash and transactions.

How to strengthen my business studies subject in class 11?

To correlate every topic to a real-world situation and consider how to apply it, you must begin your studies well enough in advance. A thorough review is essential for examination performance.

Bring together some of the points, practice logs, and short Notes that you have created over the years. Start making plans for editing. Spend the time allowed between each of the chapters going through the problems you had trouble understanding while practising.

Moving from easy to harder topics to establish a strong foundation for resolving case studies and application-based concerns. After knowing the concepts, you should memorise them so you can correctly write them out in the examination if you want to receive all the points.

Points to follow to become an expert in class 11 business studies

Do not view business as a burden; rather, appreciate it because you will be dealing with it frequently shortly. Don't put off learning it until the last few months; instead, develop a proper study routine.

The meaning of the question is a major concern. You must completely appreciate the point because the queries will be case studies that are one page long. The topic will always be supported by a theory that takes into account fundamental points from everyday life.

Most importantly, simply read the questions. The query would be complex. Some questions can ask you to explain. There is a chance to overlook that term.

The list of Top 10 Business Schools as per IIRF 2021 rankings are as below:

1. Indian Institute of Management (Ahmedabad)    

2. Indian Institute of Management (Calcutta)    

3. Indian Institute of Management (Bangalore)    

4. Faculty of Management Studies, University of Delhi

5. Indian School of Business (ISB) (Hyderabad)    

6. IIFT (New Delhi)    

7. Indian Institute of Management (Lucknow)    

8. XLRI    Jamshedpur    

9. Management Development Institute- Gurgaon    

10. S P Jain Institute of Management and Research (SPJIMR)    

11. Indian Institute of Management-Indore    

12. Jamnalal Bajaj Institute of Management Studies-Mumbai    

13. Shailesh J Mehta School of Management, IIT Bombay-Mumbai    

14. Department of Management Studies, IIT-Delhi-New Delhi    

15. Vinod Gupta School of Management, IIT Kharagpur-Kharagpur

CBSE Class 11 Business Studies Academic Resources 2023-24

Frequently Asked Questions on MCQ Questions for Business Studies Class 11

. Define business Studies ?

Business refers to all those activities, which are concerned with the production and or purchase and sale of goods or services to sell them at a profit.

. Give four features of business activities?

Four features of business activities are given below: -

1. Dealing with goods and services.

2. Production and distribution of goods and services.

3. Satisfaction of customer’s wants

4. Profit motive

. What is meant by Profession? Explain with examples.

A profession is a specialized occupation, which involves rendering personal services by the use of professional knowledge. Examples of professionals are doctors, lawyers, accountants, engineers etc.

. What is business risk?                                               

Business risk means the possibility of some occurrence, which might lead to some loss for the business.

. Is the syllabus for class 11 business studies difficult?

No, because of the brand-new courses in the Commerce stream, the majority of students consider Class 11 to be challenging academically. They have a hard time studying for tests. But this is one of the easiest subjects.

. Why is Class 11 Business Studies good?

A business study will help you gain a solid knowledge of fundamental financial theory, how global events affect markets, and how to evaluate a company's financial health.

. What is a Suitable Way to Prepare for the BST Class 11?

One of the most systematic techniques for students attempting to prepare for the Class 11 BST is to move forward in a proper sequence as compared to studying in keeping with comfort. In this way, the right flow is maintained.

. Are NCERT books enough for exam preparation?

NCERT books play an important role in any of your exams because you find all the basic concepts which are easily understood by you. NCERT books are enough to score good marks in your exams.