Skip to content
← Commerce

Commerce · Class 11 Commerce

Ch 3Classification of Business Activities — Class 11 Commerce, concept-first.

Every human being has wants — food, clothing, shelter, and countless others beyond these basics — and every want is satisfied through some activity. Human activities fall into two broad groups.

31

Q&A

5

Concepts

Not available

Exam weightage

Start learning — read this chapter →

Key concepts

Hover a concept to preview it and jump to its most relevant Q&A.

Industry and Its Types

**Industry** refers to economic activities connected with the **conversion of resources into useful goods**, generally using mechanical appliances and technical skills, including the breeding and raising of animals. The…

Most relevant Q&A

Start with this concept →

Chapter contents

The NCERT structure, section by section. Open a section to see its questions, then read the concept-first solution.

Overview

Every human being has wants — food, clothing, shelter, and countless others beyond these basics — and every want is satisfied through some activity. Human activities fall into two broad groups.

1

Meaning of Business and Its Broad Classification

Business is an economic activity involving the regular and continuous production and/or exchange of goods and services, undertaken with the object of earning profit, while satisfying the wants of soci…

2

Industry — Meaning and Types

Industry refers to the economic activity concerned with the extraction, production, processing, or construction of goods — converting raw materials or natural resources into a form that has use or exc…

3

Commerce — Meaning and Its Two Components

Commerce is the sum total of all those activities that are necessary to remove the hindrances that stand between a producer and a consumer, so that goods and services can move smoothly from the point…

4

Trade — Meaning and Types

Trade is the activity of buying and selling goods and services with the object of making a profit, and of transferring their ownership from the seller to the buyer.

5

Auxiliaries to Trade

Even after goods have been manufactured and a buyer and seller have found each other, trade cannot actually happen at scale without a set of supporting services.

6

Interdependence of Industry, Commerce and Trade

Industry, Commerce, and Trade are not three independent activities running in parallel — they are three links of one continuous chain, and each link depends completely on the others for the chain to w…

Sample & Board Papers

Sample papers and previous-year board questions for this subject.

+Show 22 questions22 questions
  1. Q1Which of the following does not characterize business activity ? (a) Production of goods and service (b) Presence of risk (c) Sale or exchan…Preview
  2. Q2Normally high level risk is involved in : (a) Industry (b) Commerce (c) Trade (d) All of the abovePreview
  3. Q3Write short notes on : (a) Business (b) ProfessionPreview
  4. Q4Normally high level risk involved in ________. (a) Commerce (b) Trade (c) Industry (d) All of the abovePreview
  5. Q5Which of the following does not characterise business activity? (a) Sale or exchange of goods and services (b) Production of goods and servi…Preview
  6. Q6What do you mean by tertiary Industries? Mention its types.Preview
  7. Q7Write a short note on Profession.Preview
  8. Q8(a) Compare business, profession and employment. (Any 5) OR (b) Explain any five personal investment avenues.Preview
  9. Q9What do you mean by human activities ? Explain.Preview
  10. Q10(a) Compare Industry, Commerce and Trade. OR (b) What are the contents of Memorandum of Association ?Preview
  11. Q11______ acts as a connective link between the Producer and the Consumer. (a) Commerce (b) Trade (c) Business (d) IndustryPreview
  12. Q12Match the following : | Tertiary industries | | Example | | --- | --- | --- | | (1) Personalised Service | (i) | Logistics | | (2) Public Se…Preview
  13. Q13(a) Compare Business with profession and employment. (any 5) OR (b) Write the difference between Factoring and Forfaiting.Preview
  14. Q14Which one of the following does not characterise business activity ? (a) Sale or exchange of Goods and Services (b) Production of Goods and…Preview
  15. Q15Normally high level risk is involved in : (a) Commerce (b) Trade (c) Industry (d) All of the abovePreview
  16. Q16What is meant by Economic Activities ?Preview
  17. Q17(a) What are the hindrances of Commerce ? OR (b) Explain the need for Social Responsibility. (any 5)Preview
  18. Q18(a) Write a short note on : (i) Analytical industry (ii) Genetic industries (iii) Construction industries OR (b) Explain the characteristics…Preview
  19. Q19Production which involves several stages for manufacturing finished products is known as ....... (a) Analytical industry (b) Synthetic indus…Preview
  20. Q20.......... acts as a connective link between the producer and the consumer. (a) Trade (b) Industry (c) Commerce (d) BusinessPreview
  21. Q21Write a short note on : a) Business b) ProfessionPreview
  22. Q22(a) What are the hindrance of Commerce. OR (b) What are the objectives of SHGS?Preview

More questions

9 Q
+Show 3 questions3 questions
  1. Q1Nurseries, cattle breeding, and fish hatcheries are examples of which type of industry? (a) Extractive Industry (b) Genetic Industry (c) Ana…Free
  2. Q2Importing goods from one country for the specific purpose of exporting them, as they are, to another country is known as: (a) Import Trade (…Preview
  3. Q3Which of the following Aids to Trade removes the hindrance of risk in the movement and storage of goods? (a) Banking (b) Insurance (c) Wareh…Preview
+Show 3 questions3 questions
  1. Q4What is Business? State any two characteristics of business.Free
  2. Q5What is Genetic Industry? Give two examples.Preview
  3. Q6Distinguish between Internal Trade and External Trade. (Any two points)Preview
+Show 3 questions3 questions
  1. Q7Explain the classification of Industry with suitable examples. Draw a chart to show this classification.Free
  2. Q8What are the various Auxiliaries (Aids) to Trade? Explain how each of them removes a particular hindrance in trade.Preview
  3. Q9Explain the interdependence of Industry, Commerce, and Trade with a suitable example.Preview