Model Paper 5 — Business Studies STD 11 Commerce — Question

Indian Oil Corporation has taken several initiatives like providing clean drinking water, operating child and maternity health centres, construction of school buildings, libraries, and providing financial help to deserving students from poor and needy families through scholarship.
i. Why do you think IOC needs to take such initiatives?
ii. Identify two values which are followed by IOC by doing such activities.

Harshit runs a well known departmental store in Delhi. He procures different kinds of products from all over the country through railways, roadways and airways. He also owns a godown to hold the stock. He has taken an insurance policy worth ₹10 crores for his business. Moreover, he has taken a loan of ₹2,00,000 from ICICI bank in order to meet all short term needs of business. He has also placed information about his store on bill boards, hoardings etc.

In the context of the above information about Harshit's business, answer following questions:

(a) What are auxiliaries of trade?

(b) Identify the auxiliaries of trade that are being used by Harshit in his business by quoting lines from above paragraph.

Business is an organized institution that operates to provide goods and services under the incentive of private gain. Discuss.

Geeta Pustak Bhandar sells only religious books. But all kinds of books are available at 'Kapoor Pustak Bhandar'. Both of them are examples of Small Scale Retail Trade. Even then the nature of their trades is different from each other. Identify the nature of the difference between the trades of both of them and explain it.

Enumerate the services of the wholesaler to manufacturer and some general services.

State the features of cottage industries.

Varnika wanted to pitch in to reduce the financial crisis prevailing in her house and thought of working as a cook. She started working in three different households, Punjabi, one Gujrati and one South Indian family. She soon realized that all the three households had different cuisine. It was indeed a challenge for her to learn the techniques of the cuisine. All the families greatly appreciated the timeframe within which she had mastered the local cuisine. After working for them for a year, she decides to open a small eating joint of her own along with two of her friends by the name 'Apna Bhoj'. They decided to share profits and losses equally and that each of them will be liable for acts performed by the other two. Soon the eatery became a hot spot because of the fusion platter which was being offered.
On the basis of the given information, answer the following questions:
(a) Identify the kind of business organisation which was set up by Varnika and her friends.
(b) Quoting the lines from the paragraph, state the features of this form of business organisation.

For more than 150 years, the Department of Posts (DOP) has played a crucial role in the country's social economic development. It touches the lives of Indian citizens in many ways: delivering mails, accepting deposits under Small Savings Schemes, providing life insurance cover under Postal Life Insurance (PLI) and providing retail services like bill collection, sale of forms, etc. The Department of Posts also acts as an agent for Government of India in discharging other services for citizens such as Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) wage disbursement and old age pension payments. With 1,55,015 Post Offices, the Department of Posts has the most widely distributed postal network in the world. The funding of Department of Posts come directly from the government Treasury and is an annual appropriation from the budget of the government. The revenue earned by these is also paid into the treasury.

On the basis of the given information about the Department of Posts, answer the following questions:

(a) How will you classify the Department of Posts, as a form of public sector enterprise?

(b) State any three features of form of public sector enterprise identified in part (a).

e-Business gives customers an opportunity to look for cheaper and better quality products. With e-Commerce, consumers can search the specific product or service they require and can even find the direct manufacturer from where they can purchase products at comparatively less price. Shopping online is time saving and convenient. In addition to it, consumers also get to see the reviews of other consumers that will help in making beneficial purchase decision.
On the basis of above discussion about, explain the benefits of e-Business not discussed above.

What are the different kinds of organizations that come under the public sector?