DELHI WORLD PUBLIC SCHOOL AGRA

BUSINESS STUDIES-XI
Ch1- Evolution and Fundamentals of Business
FINAL EXAMINATION REVISION WORKSHEET-
1

OBJECTIVE TYPE QUESTIONS:

1. JPMG is one of the largest transportation industry in India provides services for different projects
including residential, commercial office, retail, industrial, logistics, hospitality and other areas too. It’s a
familiar name among the business houses in the country because of the large dependency factor. Which
type of Industry discussed in the above case?
(A) Genetic Industry (B) Tertiary Industry (C) Processing Industry (D) Assembly Industry
2. 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
3. Surinder is a small-town businessman deals in buying and selling different fast-moving consumer goods.
The scope of business is limited to his local market. He purchased different types of goods from the
wholesaler each weekend located at the State Capital.
Identify the type of trade followed by the businessman referred in the above case.
(A) Wholesale Trade (B) Retail Trade (C) International Trade (D) Entrepot Trade
4. An Indian company deals in a type of trade in which it purchases (imports) Rubber from Thailand and sells
the same to another company of Japan. Company is earning good volume of profit from its trade. Identify
the type of trade followed by the company as discussed in the above case.
(A) Wholesale Trade (B) Retail Trade (C) International Trade (D) Entrepot Trade
5. Which of the following in not a true statement?
(A) The scope of commerce is narrower than business.
(B) Commerce includes trade and auxiliaries to trade.
(C) Foreign trade is purchase and sale by the traders of the same country.
(D) Traders serve as a link between producers and consumers.
6. Cyclone caused lots of damages to the street vendors and retail stores in the state. Rahim, owner of a
Grocery Shop suffered a lot because of cyclonic effect. Government declared a relief package to the
affected people of the affected areas. Identify the type of risk caused to the Shopkeepers highlighted in
the above case.
(A) Natural Cause (B) Human Cause (C) Economic Cause (D) None of the above
7. Match the statement
1.The group of trading communities, in western a. Collectively represented by their chief called
India Nagarseth.
2. In urban centers, such as Ahmedabad the b. Punjabi and Multani merchant handled
Mahajan community business in the Northern Region.
3. Other urban groups included professional c. Were called Mahajan.
classes
4. The Bhats managed the trade in thestates of d. Such as Hakim & Vaid (physician), Wakil,Pundit
Gujrat and Rajasthan,while or Mulla,Painters,Musicians,

(A) 1-c 2-a 3-b 4-d (B) 1-a 2-b 3-c 4-d (C) 1-c 2-a 3-d 4-b (D) 1-c 2-d 3-a 4-b
8. Commerce includes
(a) Business and Industry (b) Business and Trade (c) Trade and Aids to Trade (d) All of the above

SHORT ANSWER TYPE QUESTIONS:

9. What is meant by Hundi?

10. Distinguish between Profession and Employment on any 3 basis.
11. List any two major exports and imports in ancient India.
12. Define maritime trade.
13. Write a short note on rise of Intermediaries in the Indian subcontinent.
14. (a) “Unexpected increase in competition” relates to which type of cause of business risk? State.
(b) Lakshay started a business of repairing mobile phones and laptops in his shop in Tilak Nagar. To earn
more profits, he used to fix up duplicate spare parts in mobile phones and laptops. He focused only on
earning profits and never laid emphasis on any other objective of the business. Identify the objective of
business which has been overlooked in the above case.
15. Reema owns a jewellery shop. She bought a dress for Rs. 6000/-. Her friend liked the dress very much. So
Reema sold the dress to her friend for Rs. 6500/- and made a profit of Rs. 500/-/
(a) Can the transaction between Reema and her friend be termed as business?
(b) Give a reason for your answer.
(c) Can sale of jewellery on her shop be termed as business?

LONG ANSWER TYPE QUESTIONS:

16. Sunaina and Suma Reddy are best friends. After completing a course in Fashion Designing, five years back,
both of them started their own separate outlets in Delhi and Chennai respectively to earn their livelihood.
Sunaina buys readymade garments from various manufacturers and sells them in her store. However,
Seema Reddy designs her own range of clothing. She gets them made through her team of designers and
sells them directly under the brand name ‘Forever Young’. Although, both of them are making good
returns on their investments but in past they have also incurred huge losses due to changes in the taste
and preference of consumer and fashion. Also, despite being in business for such a long time they cannot
say with certainty as to what amount of profit will be earned by them in future. Identify and state any
four features of business highlighted in the above case
17. Mr. Liyaquat Ali Khan runs a departmental store in Bhopal. He procures different kinds of products from
all over India through railways, roadways and airways. He also owns a godown to hold the stocks. He has
also taken an insurance policy worth ` 15 crores for his business. Moreover, he has taken a loan of Rs.
3,00,000 from Axis Bank in order to meet short-term financial needs of his business. He has placed
information about his store on the hoardings, bill boards, etc. in order to popularise them.
(i) Define auxiliaries to trade.
(ii) Identify the different auxiliaries to trade that are being used by Mr. Liyaquat in his business by quoting
the lines
18. Mr. Harish Kalra is a farmer and cultivates sugarcane on a large piece of land in a district in Maharasthra.
Mr. Harish has sold his ancestral house for ` 40 lakhs. His son, Saksham proposes him to establish a sugar
mill with this money as the raw material sugarcane will be available from their fields.
(a) Mention and define the type of industry in which Harish is engaged in.
(b) Also define the type of manufacturing industry his son, Saksham plans to set up.