{"id":84034,"date":"2022-01-31T16:42:30","date_gmt":"2022-02-01T04:42:30","guid":{"rendered":"https:\/\/infinitylearn.com\/surge\/?p=84034"},"modified":"2024-01-20T15:13:35","modified_gmt":"2024-01-20T09:43:35","slug":"__trashed-123","status":"publish","type":"post","link":"https:\/\/infinitylearn.com\/surge\/study-material\/cbse-notes\/class-11\/business\/ncert-solutions-for-class-11-entrepreneurship-know-thy-business","title":{"rendered":"NCERT Solutions for Class 11 Entrepreneurship Know Thy Business"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_37 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" style=\"display: none;\"><label for=\"item\" aria-label=\"Table of Content\"><span style=\"display: flex;align-items: center;width: 35px;height: 30px;justify-content: center;\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/label><input type=\"checkbox\" id=\"item\"><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1' style='display:block'><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/infinitylearn.com\/surge\/study-material\/cbse-notes\/class-11\/business\/ncert-solutions-for-class-11-entrepreneurship-know-thy-business\/#NCERT_Solutions_for_Class_11_Entrepreneurship_Chapter_5E_Know_Thy_Business\" title=\"NCERT Solutions for Class 11 Entrepreneurship Chapter 5E Know Thy Business\">NCERT Solutions for Class 11 Entrepreneurship Chapter 5E Know Thy Business<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/infinitylearn.com\/surge\/study-material\/cbse-notes\/class-11\/business\/ncert-solutions-for-class-11-entrepreneurship-know-thy-business\/#TEXTBOOK_QUESTIONS_SOLVED\" title=\"TEXTBOOK QUESTIONS SOLVED.\">TEXTBOOK QUESTIONS SOLVED.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/infinitylearn.com\/surge\/study-material\/cbse-notes\/class-11\/business\/ncert-solutions-for-class-11-entrepreneurship-know-thy-business\/#MORE_QUESTIONS_SOLVED\" title=\"MORE QUESTIONS SOLVED\">MORE QUESTIONS SOLVED<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"NCERT_Solutions_for_Class_11_Entrepreneurship_Chapter_5E_Know_Thy_Business\"><\/span><span style=\"color: #00ccff;\"><strong>NCERT Solutions for Class 11 Entrepreneurship Chapter 5E Know Thy Business<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"TEXTBOOK_QUESTIONS_SOLVED\"><\/span><span style=\"color: #0000ff;\"><strong>TEXTBOOK QUESTIONS SOLVED.<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"color: #993366;\"><strong>Question 1. Answer each of these questions in about 15 words:<\/strong><\/span><br \/>\n<span style=\"color: #993366;\"><strong> (i) Define the term \u2018Business\u2019.<\/strong><\/span><br \/>\n<span style=\"color: #993366;\"><strong> (ii) What is the epicenter of human life?<\/strong><\/span><br \/>\n<span style=\"color: #993366;\"><strong> (iii) Enlist any four characteristics of Business.<\/strong><\/span><br \/>\n<span style=\"color: #993366;\"><strong> (iv) What is the final outcome of an industrial activity?<\/strong><\/span><br \/>\n<span style=\"color: #993366;\"><strong> (v) Name the various types of trade.<\/strong><\/span><br \/>\n<span style=\"color: #993366;\"><strong> (vi) What is Commerce?<\/strong><\/span><br \/>\n<span style=\"color: #339966;\"><strong>Answer:<\/strong><\/span> (i)  As per Peterson and Plowman \u201cBusiness may be defined as an activity in which different persons exchange something of value, whether goods or services, for mutual gain or profit.\u201d<br \/>\nOr<br \/>\nBusiness is, \u201cThe state of being busy in making, distributing or providing of any goods or services which other members of the community need.\u201d<br \/>\n(ii)  Activity is the epicenter of human life.<br \/>\n(iii)  Following are the characteristics of business:<br \/>\n(a)  Economic activity<br \/>\n(b)  Production<br \/>\n(c)  Satisfaction of human want<br \/>\n(d)  Regularity: In business, activity is performed on regular basis.<br \/>\n(e)  Profit<br \/>\n(f)  Risk.<br \/>\n(iv) Finished product in the form of a good or service is the final outcome of the industrial activity.<br \/>\n(v) (a) Home or internal trade (b) Foreign or external trade.<br \/>\n(vi) \u201cCommerce is the sum total of all those activities, which are engaged in the removal of hindrance of persons (trade) place (transport and insurance) and time (ware housing) in the exchange (Banking) of commodities,\u201d. James Stephenson.<\/p>\n<p><span style=\"color: #993366;\"><strong>Question 2. Answer each of these questions in about 50 words:<\/strong><\/span><br \/>\n<span style=\"color: #993366;\"><strong> (i) State the range of activities performed under Business.<\/strong><\/span><br \/>\n<span style=\"color: #993366;\"><strong> (ii) Explain any two business activities which are auxiliaries to trade.<\/strong><\/span><br \/>\n<span style=\"color: #993366;\"><strong> (iii) Define construction industry.<\/strong><\/span><br \/>\n<span style=\"color: #993366;\"><strong> (iv) Define tertiary industry.<\/strong><\/span><br \/>\n<span style=\"color: #339966;\"><strong>Answer:<\/strong> <\/span>(i) Business involve production, processing, sale or exchange of goods and services at regular basis and a aim of earning profit.<br \/>\n(ii) Transportation, Banking, Insurance, Warehousing, Advertisement and salesmanship.<br \/>\n(iii) Construction industry deals in creation of infrastructure for the smooth development of the economy and is concerned with the construction of buildings, dams, roads, bridges, canals, etc.<br \/>\n(iv) Tertiary or Service industry comprises activities concerned with the rendering of services which help other businesses.<\/p>\n<p><span style=\"color: #993366;\"><strong>Question 3. Answer each of these questions in about 75 words:<\/strong><\/span><br \/>\n<span style=\"color: #993366;\"><strong> (i) Define trade and its types.<\/strong><\/span><br \/>\n<span style=\"color: #993366;\"><strong> (ii) What is \u2018Business\u2019? State its characteristics?<\/strong><\/span><br \/>\n<span style=\"color: #993366;\"><strong> (iii) Explain Transportation. State the modes of- transportation and communication.<\/strong><\/span><br \/>\n<span style=\"color: #339966;\"><strong>Answer: <\/strong><\/span>(i) Trade is referred as the nucleus of commerce around which other aids\/auxiliaries revolve. Foreign trade or International trade or External is the buying and selling of goods between two or more nations.<br \/>\nInternal or home trade is the buying and selling of goods within the boundaries of a country, i.e. inside a nation.<br \/>\n(ii) \u201cBusiness may be defined as an activity in which different persons exchange something of value, whether goods or services, for mutual gain or profit\u2014Peterson and Plowman. Following are the characteristics of business:<br \/>\n(a) Economic activity: It is an economic activity, which done to earn money.<br \/>\n(b) Production: It deals in either production, purchase, procurement of goods or renders service or both.<br \/>\n(c) Satisfaction of human want: All the activities performed are for satisfying human wants.<br \/>\n(d) Regularity: In business, activity is performed on regular basis.<br \/>\n(e) Profit: Profit earning is the primary aim of an business.<br \/>\n(f) Risk: Business involve risk of incurring losses or earning inadequate profits.<br \/>\n(iii) Transportation helps in removing the hindrance of place in exchange of goods and services. It forms a link from their place of production to the place of their consumption. It is the physical movement of goods or passengers from one place to another. Various modes of transportation are Railways, Roadways, Airways, Waterways and Pipelines. Various modes of communication like telephone, telegram, e-mails, online, fax, etc. are used for transportation.<\/p>\n<p><span style=\"color: #993366;\"><strong>Question 4. Answer each of these questions in about 250 words:<\/strong><\/span><br \/>\n<span style=\"color: #993366;\"><strong> (i) State briefly the various types of primary industries.<\/strong><\/span><br \/>\n<span style=\"color: #993366;\"><strong> (ii) Rahul, an owner of a huge Departmental Store, charges exorbitantly due to no competition around, and he misses out on no opportunity to earn profit. He finds nothing wrong as the main goal of business is to earn \u2018Profit\u2019. Discuss any four values which you find are lacking in him as a rational businessman.<\/strong><\/span><br \/>\n<span style=\"color: #993366;\"><strong> (iii) Define commerce and discuss its functions.<\/strong><\/span><br \/>\n<span style=\"color: #993366;\"><strong> (iv) Differentiate between Industry, Commerce and Trade, explaining the main characteristics of each.<\/strong><\/span><br \/>\n<span style=\"color: #993366;\"><strong> (v)What do you understand by the term Industry? Explain the various types of industries?<\/strong><\/span><br \/>\n<span style=\"color: #993366;\"><strong> (vi)Mohan Pvt. Ltd. just commenced with the business of Blue Pottery. Explain the auxiliaries required for the smooth functioning of their newly set enterprise.<\/strong><\/span><br \/>\n<span style=\"color: #339966;\"><strong>Answer: <\/strong><\/span>(i) Primary industry includes those activities which are concerned with natural resources and include extraction, producing and processing or extraction of natural resources. The primary industry are of following types:<br \/>\n(a) Extractive industry: This industry deals with raising some form of wealth from the soil, climate, air, water or from beneath the surface of the earth. For example, agriculture, fishing, etc. Extractive industries :<br \/>\n1. are the oldest occupation of human beings and provide raw material to others.<br \/>\n2. only collect and cannot add to the wealth extracted from the earth or sea.<br \/>\n3. shift the location of materials.<br \/>\n4. cannot replace the materials once extracted.<br \/>\n(b) Genetic: Genetic industry is related to the re-producing and multiplying of certain species of animal and plants with the object of earning profits from their sale.<br \/>\nIt deals with rearing and breeding of animals and birds and growing plants, e.g. nurseries, cattle breeding, fish hatcheries, poultry farms, etc.<br \/>\n(ii) The values which are missing are:<br \/>\n(a) Interest towards customer satisfaction is missing in the departmental store.<br \/>\n(b) Consumer awareness part is not given due importance which has long term impact on the business.<br \/>\n(c) Honesty on the part of entrepreneur is missing as the main aim made by the entrepreneur is profit earning.<br \/>\n(d) Quality of services is lacking in the departmental store.<br \/>\n(iii)\u201cIt is the sum total of all those activities, which are engaged in the removal of hindrance of persons (trade), place (transport and insurance) and time (warehousing) in the exchange (Banking) of commodities,\u201d. James Stephenson Functions of commerce are:<br \/>\n(a)to deals with activities which facilitate exchange of goods\/services.<br \/>\n(b)to deal with transfer of goods from one place of production to ultimate consumers.<br \/>\n(c)to help to break the barriers between producers and consumers.<br \/>\n(d) to create time, place and possession utilities.<br \/>\nCommerce:<br \/>\n(a) Commerce deals with activities which facilitate exchange of goods\/services.<br \/>\n(b) It deals with transfer of goods from one place of production to ultimate consumers.<br \/>\n(c) It helps to break the barriers between producers and consumers.<br \/>\n(d) Time, place and possession utilities are created.<br \/>\n(iv) Industry refers to all economic activities involved in converting raw materials into finished products which are ultimately consumed by consumers. It includes:<br \/>\n(a) Manufacturing of goods, i.e. connected with conversion of resources into useful goods.<br \/>\n(b) Growing, producing, processing, assembling, extracting, constructing, fabricating, breeding, etc. of products.<br \/>\n(c) Imparting utility to goods using mechanical appliances and technical skills.<br \/>\n(d) A group of firms producing similar or related goods, e.g. textile industry, film industry, etc.<br \/>\nTrade:<br \/>\n(a) It is the nucleus of commerce.<br \/>\n(b) It facilitates the smooth and timely transmission of goods.<br \/>\n(c) It removes the hindrance of persons.<br \/>\n(d) It makes the goods available to the consumers.<br \/>\n(e) It facilitates the smooth and timely transmission of goods from the producers to the consumers.<br \/>\n(v) Industry refers to all economic activities involved in converting raw materials into finished products which are ultimately consumed by consumers. \u201cGoods\u201d which are the final outcome of any industrial activity are of the following two types:<br \/>\n1. Producer\u2019s Goods: The goods produced by one enterprise and used by other enterprises as raw material for further production, for example plant and machinery, equipment, tools, etc.<br \/>\n2. Consumer Goods: The goods used by final consumers for deriving personal satisfaction, for example jams, clocks, edible oil, etc.<br \/>\n(vi)  Auxiliaries required for blue pottery are:<br \/>\n(a) Transportation: For bringing the raw material and also for sending the finished products to the market.<br \/>\n(b) Banking: It is required for taking loan as and when required and also for keeping the finance and taking use of various services offered by banks.<br \/>\n(c) Insurance: This is essential for safeguarding the enterprise against the risk involved due to unforeseen circumstances.<br \/>\n(d) Warehousing: It is required for storing the finished product and also for storing the raw material.<br \/>\n(e) Advertisement and salesmanship: It is required for providing information about product and also for informing market about the product.<br \/>\n(vii) Secondary industries are the industries which are concerned with the changing forms or transformation of the materials provided by primary industries.<br \/>\nExamples manufacturing gold jewellery, refining crude oil into kerosene, cement, paint, soap, etc.<br \/>\nVarious types of secondary industry are : A. Manufacturing, B. Construction C. Tertiary or Service.<br \/>\nMain features of manufacturing industry are:<br \/>\n(a) engaged in the conversion of raw materials into semi-finished or finished goods<br \/>\n(b) creates firm utility in goods<br \/>\n(c) most of the goods which are used by consumers are produced by manufacturing industries.<br \/>\nProcessing the industry in which the finished product of one process becomes the raw material of the receiving process and soon the final process produces the finished goods, e.g. cotton passes through ginning, weaving, dyeing to make cloth as a final product. Manufacturing: The industries which are engaged in the conversion of raw materials into semi-finished or finished goods are referred as manufacturing industry. Manufacturing industry may be classified as:<br \/>\n(a) Analytical: It deals with analysing and separating basic materials for getting distinct final products. For example\u2014separating crude oil into kerosene, petrol, diesel, gasoline, lubricating oil, etc.<br \/>\n(b) Synthetic: It deals with grouping together or synthesizing various raw materials in manufacturing process to produce a final product, for example cement, paint, soap, etc.<br \/>\n(c) Processing: In this industry, a product passes through various processes to become a final product, for example sugar and paper industries.<br \/>\n(d) Integration or Assembling: In this industry, the final product is the outcome of , assembling various parts or components together, for example bicycle, automobile, television, etc.<br \/>\nConstruction industry:<br \/>\n(a) It deals in creation of infrastructure.<br \/>\n(b) Engineering and architectural skills are involved.<br \/>\nConstruction industry deals in creation of infrastructure for the smooth development of the economy. It is concerned with the construction of buildings, dams, roads, bridges, canals, etc. Engineering and architectural skills play a leading role in this industry.<\/p>\n<h3 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"MORE_QUESTIONS_SOLVED\"><\/span><span style=\"color: #0000ff;\"><strong>MORE QUESTIONS SOLVED<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"color: #0000ff;\"><strong>I. Very Short Answer Type Questions [1 Marks]<\/strong><\/span><br \/>\n<strong><span style=\"color: #993366;\">Question<\/span> <span style=\"color: #993366;\">1<\/span><\/strong><span style=\"color: #993366;\"><strong>. What is symbol of life?<\/strong><\/span><br \/>\n<span style=\"color: #008000;\"><strong>Answer:<\/strong><\/span>  Activity is the symbol of life.<\/p>\n<p><span style=\"color: #993366;\"><strong>Question 2. \u201cHuman life is centered on activities which help in satisfying their diverse needs\u201d. Why?<\/strong><\/span><br \/>\n<span style=\"color: #008000;\"><strong>Answer:<\/strong><\/span>  Human life is centered on activities which help in satisfying their diverse needs because the activities are performed with some objectives, i.e. either to satisfy unlimited human wants or to earn for livelihood.<\/p>\n<p><span style=\"color: #993366;\"><strong>Question 3. List few categories of unlimited human requirements.<\/strong><\/span><br \/>\n<span style=\"color: #008000;\"><strong>Answer:<\/strong><\/span> Unlimited human requirements are physical, emotional, religious, social, psychological.<\/p>\n<p><span style=\"color: #993366;\"><strong>Question 4. Describe the economic system of ancient societies.<\/strong><\/span><br \/>\n<span style=\"color: #008000;\"><strong>Answer:<\/strong><\/span>  Ancient societies were simple, satisfied and self-sufficient. Each family managed to satisfy their basic needs by self. Due to self-sufficiency, business did not exist during that period.<\/p>\n<p><span style=\"color: #993366;\"><strong>Question 5. When did business evolved?<\/strong><\/span><br \/>\n<span style=\"color: #008000;\"><strong>Answer:<\/strong><\/span> Business emerged when self-sufficiency disappeared. This is because business evolved as a medium for exchange of goods or services for mutual benefit in absence of self-sufficiency.<\/p>\n<p><span style=\"color: #993366;\"><strong>Question 6. Explain the term \u2018business\u2019.<\/strong><\/span><br \/>\n<span style=\"color: #008000;\"><strong>Answer:<\/strong><\/span>  Business is derived from the term \u2018Busy-ness\u2019, meaning people are engaged in certain activities. Thus business is, \u201cthe state of being busy in making, distributing or providing of any goods or services which other members of the community need.\u201d<\/p>\n<p><span style=\"color: #993366;\"><strong>Question 7. Define business.<\/strong><\/span><br \/>\n<span style=\"color: #008000;\"><strong>Answer:<\/strong><\/span>  \u201cBusiness may be defined as an activity in which different persons exchange something of value, whether goods or services, for mutual gain or profit.\u201d \u2014Peterson and Plowman.<br \/>\nOr<br \/>\nBusiness is \u201cthe state of being busy in making, distributing or providing of any goods or services which other members of the community need.\u201d<\/p>\n<p><span style=\"color: #993366;\"><strong>Question 8. Business is an institution. How?<\/strong><\/span><br \/>\n<span style=\"color: #008000;\"><strong>Answer:<\/strong><\/span>  \u201cBusiness is an institution organized and operated to provide goods and services to the society under the incentive of private gain.\u201d<\/p>\n<p><span style=\"color: #993366;\"><strong>Question 9. What does Business involve?<\/strong><\/span><br \/>\n<span style=\"color: #008000;\"><strong>Answer:<\/strong><\/span>  Business involves production, processing, sale or exchange of goods and services at regular basis and aim at earning profit.<\/p>\n<p><span style=\"color: #993366;\"><strong>Question 10. What are the two categories of the range of activities performed under business?<\/strong><\/span><br \/>\n<span style=\"color: #008000;\"><strong>Answer:<\/strong><\/span> The range of activities performed under business can be classified under two categories:<br \/>\n(i) Industry (ii) Commerce<\/p>\n<p><span style=\"color: #993366;\"><strong>Question 11. Give example of A group of firms producing similar or related goods.<\/strong><\/span><br \/>\n<span style=\"color: #008000;\"><strong>Answer:<\/strong><\/span>  Textile industry, film industry, etc.<\/p>\n<p><span style=\"color: #993366;\"><strong>Question 12. Define industry.<\/strong><\/span><br \/>\n<span style=\"color: #008000;\"><strong>Answer:<\/strong><\/span>  Industry refers to all economic activities involved in converting raw materials into finished products which are ultimately consumed by consumers.<\/p>\n<p><span style=\"color: #993366;\"><strong>Question 13. According to nature of activities performed, the industries are classified into which categories?<\/strong><\/span><br \/>\n<span style=\"color: #008000;\"><strong>Answer:<\/strong><\/span> Primary industry and Secondary industry.<\/p>\n<p><span style=\"color: #993366;\"><strong>Question 14. What does primary industry include?<\/strong><\/span><br \/>\n<span style=\"color: #008000;\"><strong>Answer:<\/strong><\/span> Primary industry includes those activities which are concerned with extraction, producing and processing or extraction of natural resources.<\/p>\n<p><span style=\"color: #993366;\"><strong>Question 15. What do you mean by Genetic industry?<\/strong><\/span><br \/>\n<span style=\"color: #008000;\"><strong>Answer:<\/strong><\/span>  Genetic industry is the industry related to the re-producing and multiplying of certain species of animal and plants with the object of earning profits from their sale.<\/p>\n<p><span style=\"color: #993366;\"><strong>Question 16. Give the example of Genetic industry.<\/strong><\/span><br \/>\n<span style=\"color: #008000;\"><strong>Answer:<\/strong><\/span>  Nurseries, cattle breeding fish hatcheries, poultry farms, etc.<\/p>\n<p><span style=\"color: #993366;\"><strong>Question 17. What do you mean by Extractive industry? Give examples.<\/strong><\/span><br \/>\n<span style=\"color: #008000;\"><strong>Answer:<\/strong><\/span> Extractive industry is the one which is engaged in raising some form of wealth from the soil, climate, air, water or from beneath the surface of the earth. For example, agriculture, fishing, hunting, mining, etc.<\/p>\n<p><span style=\"color: #993366;\"><strong>Question 18. What are secondary industries?<\/strong><\/span><br \/>\n<span style=\"color: #008000;\"><strong>Answer:<\/strong><\/span>  Secondary industries are the industries which are concerned with the changing forms or transformation of the materials provided by primary industries.<\/p>\n<p><span style=\"color: #993366;\"><strong>Question 19. Give the examples of secondary industries.<\/strong><\/span><br \/>\n<span style=\"color: #008000;\"><strong>Answer:<\/strong><\/span> Manufacturing gold jewellery, refining crude oil into kerosene, cement, paint, soap, etc.<\/p>\n<p><span style=\"color: #993366;\"><strong>Question 20. What are the various types of secondary industry?<\/strong><\/span><br \/>\n<span style=\"color: #008000;\"><strong>Answer:<\/strong><\/span>  Various types of secondary industry are : A. Manufacturing, B. Construction, C. Tertiary or Service.<\/p>\n<p><span style=\"color: #993366;\"><strong>Question 21. Write two features of construction industry.<\/strong><\/span><br \/>\n<span style=\"color: #008000;\"><strong>Answer:<\/strong><\/span><\/p>\n<ol>\n<li>It deals in creation of infrastructure.<\/li>\n<li>Engineering and architectural skills are involved.<\/li>\n<\/ol>\n<p><span style=\"color: #993366;\"><strong>Question 22. Define trade.<\/strong><\/span><br \/>\n<span style=\"color: #008000;\"><strong>Answer:<\/strong><\/span> Trade is referred as the nucleus of commerce around which other aids\/auxiliaries revolve.<\/p>\n<p><span style=\"color: #993366;\"><strong>Question 23. Give the two classes of commerce.<\/strong><\/span><br \/>\n<span style=\"color: #008000;\"><strong>Answer:<\/strong><\/span> Commerce can be classified into two classes: A. Trade B. Auxiliaries.<\/p>\n<p><span style=\"color: #993366;\"><strong>Question 24. What do you mean by internal trade? Name its types.<\/strong><\/span><br \/>\n<span style=\"color: #008000;\"><strong>Answer:<\/strong><\/span> Internal or home trade is the buying and selling of goods within the boundaries of a country, i.e. inside a nation.<br \/>\nHome trade is classified as: (a) Wholesale (6) Retail.<\/p>\n<p><span style=\"color: #993366;\"><strong>Question 25. Define \u2018Entre pot Trade\u2019.<\/strong><\/span><br \/>\n<span style=\"color: #008000;\"><strong>Answer:<\/strong><\/span> It is the purchasing or importing goods from one country to be sold or exported to some other country.<\/p>\n<p><span style=\"color: #0000ff;\"><strong>II. Short Answer Type Questions [2\/3 Marks]<\/strong><\/span><br \/>\n<span style=\"color: #993366;\"><strong>Question 1. Describe the characteristics of business.<\/strong><\/span><br \/>\n<span style=\"color: #008000;\"><strong>Answer:<\/strong><\/span> Following are the characteristics of business :<\/p>\n<ul>\n<li><strong>Economic activity:<\/strong> It is an economic activity, which is the done with the motive to earn money.<\/li>\n<li><strong>Production:<\/strong> It deals in either production, purchase, procurement of goods or renders service or both.<\/li>\n<li><strong> Satisfaction of human want:<\/strong> All the activities performed are for satisfying human<br \/>\nwants.<\/li>\n<li><strong> Regularity:<\/strong> In business, activity is performed on regular basis.<\/li>\n<li><strong>Profit:<\/strong> Profit earning is the primary aim of an business.<\/li>\n<li><strong> Risk:<\/strong> Business involve risk of incurring losses or earning inadequate profits.<\/li>\n<\/ul>\n<p><span style=\"color: #993366;\"><strong>Question 2. What does business include?<\/strong><\/span><br \/>\n<span style=\"color: #008000;\"><strong>Answer:<\/strong><\/span> Business\u2019 includes the activities related to the production and distribution of goods and services including all those activities which indirectly help in production exchange of goods such as Transport, Insurance, Banking, Warehousing, Advertising, etc.<\/p>\n<p><span style=\"color: #993366;\"><strong>Question 3. What are the various categories of business activities?<\/strong><\/span><br \/>\n<span style=\"color: #008000;\"><strong>Answer:<\/strong><\/span> Business activities can be divided into following five categories:<\/p>\n<ul>\n<li>Production of goods<\/li>\n<li>Rendering of services<\/li>\n<li>Distribution of goods<\/li>\n<li>Rendering distribution assistance<\/li>\n<li>Rendering financial assistance.<\/li>\n<\/ul>\n<p><span style=\"color: #993366;\"><strong>Question 4. Explain the term \u2018Industry\u2019.<\/strong><\/span><br \/>\n<span style=\"color: #008000;\"><strong>Answer:<\/strong><\/span> Industry refers to all economic activities involved in converting raw materials into finished products which are ultimately consumed by consumers. It includes:<\/p>\n<ul>\n<li>Manufacturing of goods, i.e. connected with conversion of resources into useful goods.<\/li>\n<li>Growing, producing, processing, assembling, extracting, constructing, fabricating, breeding, etc. of products.<\/li>\n<li>Imparting utility to goods using mechanical appliances and technical skills.<\/li>\n<li>A group of firms producing similar or related goods, e.g. textile industry, film industry, etc.<\/li>\n<\/ul>\n<p><span style=\"color: #993366;\"><strong>Question 5. What are the two types of goods which are the final outcome of any industrial activity?<\/strong><\/span><br \/>\n<span style=\"color: #008000;\"><strong>Answer:<\/strong><\/span> \u201cGoods\u201d which are the final outcome of any industrial activity are of following two types:<br \/>\n1. Producer\u2019s Goods: The goods produced by one enterprise and used by other enterprises as raw material for further production, for example plant and machinery, equipment, tools, etc.<br \/>\n2. Consumer Goods: The goods used by final consumers for deriving personal satisfaction, for example; jams, clocks, edible oil, etc.<\/p>\n<p><span style=\"color: #993366;\"><strong>Question 6. Give the features of manufacturing.<\/strong><\/span><br \/>\n<span style=\"color: #008000;\"><strong>Answer:<\/strong><\/span> Following are the main features of manufacturing:<br \/>\n(i) Engaged in the conversion of raw materials into semi-finished or finished goods.<br \/>\n(ii) Creates firm utility in goods produces by either genetic or extractive industries.<br \/>\n(iii) Most of the goods which are used by consumers are produced by manufacturing industries.<\/p>\n<p><span style=\"color: #993366;\"><strong>Question 7. What is processing?<\/strong><\/span><br \/>\n<span style=\"color: #008000;\"><strong>Answer:<\/strong><\/span> The industry in which the finished product of one process becomes the raw material of the receiving process and soon the final process produces the finished goods, for example cotton passes through ginning, weaving, dyeing to make cloth as a final product.<\/p>\n<p><span style=\"color: #993366;\"><strong>Question 8. Explain in brief construction industry.<\/strong><\/span><br \/>\n<span style=\"color: #008000;\"><strong>Answer:<\/strong><\/span> Construction industry deals in creation of infrastructure for the smooth development of the economy. It is concerned with the construction of buildings, dams, roads, bridges, canals, etc. Engineering and architectural skills play a leading role in this industry.<\/p>\n<p><span style=\"color: #993366;\"><strong>Question 9. Wfiiat do you mean by tertiary industry?<\/strong><\/span><br \/>\n<span style=\"color: #008000;\"><strong>Answer:<\/strong><\/span> Service industry comprises of activities concerned with the rendering of services which help other businesses. These serve as the back bone of modern industrial system.<br \/>\nThey help in removing various hindrances which arise during the production and distribution of goods and services and deals with:<\/p>\n<ul>\n<li>Transport facilitates<\/li>\n<li>Banking<\/li>\n<li>Insurance<\/li>\n<li>Warehousing<\/li>\n<li>Advertising.<\/li>\n<\/ul>\n<p><span style=\"color: #993366;\"><strong>Question 10. Give the features of Commerce.<\/strong><\/span><br \/>\n<span style=\"color: #008000;\"><strong>Answer:<\/strong><\/span><\/p>\n<ol>\n<li>It deals with activities which facilitate exchange of goods\/services.<\/li>\n<li>It deals with transfer of goods from one place of production to ultimate consumers.<\/li>\n<li>It help to break the barriers between producers and consumers.<\/li>\n<li>Time place and possession utilities are created.<\/li>\n<\/ol>\n<p><span style=\"color: #0000ff;\"><strong>III. Very Short Answer Type Questions [4 Marks]<\/strong><\/span><br \/>\n<span style=\"color: #993366;\"><strong>Question 1. Give the features of trade.<\/strong><\/span><br \/>\n<span style=\"color: #008000;\"><strong>Answer:<\/strong><\/span><\/p>\n<ol>\n<li>It is the nucleus of commerce.<\/li>\n<li>It facilitates the smooth and timely transmission of goods.<\/li>\n<li> It removes the hindrance of persons.<\/li>\n<li>It makes the goods available to the consumers.<\/li>\n<li>It facilitates the smooth and timely transmission of goods from the producers to the consumers.<\/li>\n<\/ol>\n<p><span style=\"color: #993366;\"><strong>Question 2. Give the features of internal trade.<\/strong><\/span><br \/>\n<span style=\"color: #008000;\"><strong>Answer:<\/strong><\/span> The main features of internal trade are:<\/p>\n<ol>\n<li>Buyer and sellers belong to the same country.<\/li>\n<li>Mode of payment is in the same legal tender of the country<\/li>\n<li> It is done locally, regionally or inter-state wise.<\/li>\n<li>It follows the same land laws.<\/li>\n<li>It is the buying and selling of goods within the boundaries of a country.<\/li>\n<\/ol>\n<p><span style=\"color: #993366;\"><strong>Question 3. Define (1) Wholesale, (2) Retail, (3) Foreign trade, (4) Transportation.<\/strong><\/span><br \/>\n<span style=\"color: #008000;\"><strong>Answer:<\/strong><\/span><\/p>\n<ol>\n<li> <strong>Wholesale:<\/strong> Wholesale is the bulk buying from producers to be resold to retailers in small quantities.<\/li>\n<li><strong>Retail:<\/strong> Retail is selling directly to the ultimate consumers for personal or non-business use in said (single\/small) quantities.<\/li>\n<li><strong>Foreign trade:<\/strong> Foreign trade or International trade or External trade is the buying and selling of goods between two or more nations.<\/li>\n<li><strong>Transportation:<\/strong> Transportation is the physical movement of goods or passengers from one place to another.<\/li>\n<\/ol>\n<p><span style=\"color: #993366;\"><strong>Question 4. Give the features of Foreign Trade or International Trade or External Trade.<\/strong><\/span><br \/>\n<span style=\"color: #008000;\"><strong>Answer:<\/strong><\/span><\/p>\n<ol>\n<li>It involves the exchange of currencies between the nations.<\/li>\n<li>Land laws, rules, regulations, customs of two countries prevail.<\/li>\n<li>Distances involved are far.<\/li>\n<li> It is more time consuming.<\/li>\n<\/ol>\n<p><span style=\"color: #993366;\"><strong>Question 5. Describe various types of foreign trade transactions.<\/strong><\/span><br \/>\n<span style=\"color: #008000;\"><strong>Answer:<\/strong><\/span> Foreign trade transactions are of the following three types:<\/p>\n<ol>\n<li>Import Trade\u2014The purchase of goods from a foreign country<\/li>\n<li>Export Trade\u2014The sale of goods to a foreign country.<\/li>\n<li>Entre pot Trade\u2014Purchasing or importing goods from one country to be sold or exported to some other country is called as \u2018entre pot\u2019 trade.<\/li>\n<\/ol>\n<p><span style=\"color: #993366;\"><strong>Question 6. Explain Auxiliaries or \u2018Aids to Trade\u2019.<\/strong><\/span><br \/>\n<span style=\"color: #008000;\"><strong>Answer:<\/strong><\/span> While dealing with the activities of enterprise, an entrepreneur faces many problems regarding finance, knowledge, time, person, and place, requiring immediate solution. The flow of goods\/services from producers to consumers is obstructed by many environmental factors. All these difficulties are overcome with the help of various agencies or support systems known as \u2018Aids to Trade\u2019. It includes Transportation, Banking, Insurance, Warehousing, Advertisement and Salesmanship.<\/p>\n<p><span style=\"color: #993366;\"><strong>Question 7. Business needs continuous supply of finance to meet out multiple and recurring demand. What are those areas of needs?<\/strong><\/span><br \/>\n<span style=\"color: #008000;\"><strong>Answer:<\/strong><\/span> Business needs continuous supply of finance to meet out multiple and recurring demand of: Commencement, Day to Day operation, Expansion, Modernization, Diversification, Research and Development and Innovation.<\/p>\n<p><span style=\"color: #993366;\"><strong>Question 8. Besides finance, which other services are provided by banks?<\/strong><\/span><br \/>\n<span style=\"color: #008000;\"><strong>Answer:<\/strong><\/span> Banks not only fulfil the fund requirement of entrepreneur, but also provide services like Guidance and counseling, Guarantor in foreign trade, Underwriters for new enterprises and Custodian of documents, etc. in foreign trade.<\/p>\n<p><span style=\"color: #993366;\"><strong>Question 9. How is insurance useful in business?<\/strong><\/span><br \/>\n<span style=\"color: #008000;\"><strong>Answer:<\/strong><\/span> Business is full of risks and uncertainties. Risk in transporting goods, due to theft, fire, damage, due to death of key employee, etc. Insurance removes the hindrance of risk by providing cover against it. The insurance coverage has given impetus to the national and international trade.<\/p>\n<p><span style=\"color: #993366;\"><strong>Question 10. What is enhanced by advertisement and salesmanship.<\/strong><\/span><br \/>\n<span style=\"color: #008000;\"><strong>Answer:<\/strong><\/span> Advertisement and salesmanship enhances:<\/p>\n<ul>\n<li>The knowledge of the customer about the products.<\/li>\n<li>Helps customer in making a decision about the purchase. In this way, advertisement eliminates the hindrance of information.<\/li>\n<\/ul>\n<p><span style=\"color: #993366;\"><strong>Question 11. Commerce makes our economy sail. Why?<\/strong><\/span><br \/>\n<span style=\"color: #008000;\"><strong>Answer:<\/strong><\/span> Commerce is the sum total of these processes of transport, communication, warehousing, advertisement, and banking and insurance that to ensures free flow of goods and services<br \/>\nin our economy. It works towards the timely availability of goods and services for the consumers and other final users of the producers. Thus, commerce makes our economy sail.<\/p>\n<p><span style=\"color: #0000ff;\"><strong>IV. Long Answer Type Questions [6 Marks]<\/strong><\/span><br \/>\n<span style=\"color: #993366;\"><strong>Question 1. What is manufacturing? Explain its various classes.<\/strong><\/span><br \/>\n<span style=\"color: #008000;\"><strong>Answer:<\/strong><\/span> Manufacturing: The industries which are engaged in the conversion of raw materials into semi-finished or finished goods are referred as manufacturing industry. Manufacturing industry may be classified as:<\/p>\n<ul>\n<li><strong>Analytical:<\/strong> It deals with analysing and separating basic materials for getting distinct final products, for example-separating crude oil into kerosene, petrol, diesel, gasoline, lubricating oil, etc.<\/li>\n<li><strong>Synthetic:<\/strong> It deals with grouping together or synthesizing various raw materials in manufacturing process to produce a final product, for example cement, paint, soap, etc.<\/li>\n<li><strong>Processing:<\/strong> In this industry, a product passes through various processes to become a final product, for example sugar and paper industries.<\/li>\n<li><strong>Integration or Assembling:<\/strong> In this industry, the final product is the outcome of assembling various parts or components together, for example, bicycle, automobile, television, etc.<\/li>\n<\/ul>\n<p><span style=\"color: #993366;\"><strong>Question 2. Distinguish between Wholesale and Retail.<\/strong><\/span><br \/>\n<span style=\"color: #008000;\"><strong>Answer:<\/strong><\/span><br \/>\n<img loading=\"lazy\" class=\"alignnone wp-image-704917 size-full\" src=\"https:\/\/infinitylearn.com\/surge\/wp-content\/uploads\/2022\/01\/Distinguish-between-Wholesale-and-Retail.jpg\" alt=\"Distinguish between Wholesale and Retail\" width=\"663\" height=\"167\" srcset=\"https:\/\/infinitylearn.com\/surge\/wp-content\/uploads\/2022\/01\/Distinguish-between-Wholesale-and-Retail.jpg 663w, https:\/\/infinitylearn.com\/surge\/wp-content\/uploads\/2022\/01\/Distinguish-between-Wholesale-and-Retail-300x76.jpg 300w\" sizes=\"(max-width: 663px) 100vw, 663px\" \/><\/p>\n<p><span style=\"color: #993366;\"><strong>Question 3. Write the features of transportation with reference to entrepreneur.<\/strong><\/span><br \/>\n<span style=\"color: #008000;\"><strong>Answer:<\/strong><\/span> Following are the features of transportation:<\/p>\n<ul>\n<li> It helps in removing the hindrance of place in exchange of goods and services.<\/li>\n<li>It forms a link from their place of production to the place of their consumption.<\/li>\n<li> It is the physical movement of goods or passengers from one place to another.<\/li>\n<li> Various modes of transportation are Railways, Roadways, Airways, Waterways and Pipelines.<\/li>\n<li>Various modes of communication like telephone, telegram, e-mails, online, fax, etc. are used for transportation.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>NCERT Solutions for Class 11 Entrepreneurship Chapter 5E Know Thy Business TEXTBOOK QUESTIONS SOLVED. Question 1. Answer each of these [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_yoast_wpseo_focuskw":"","_yoast_wpseo_title":"","_yoast_wpseo_metadesc":"Get NCERT Solutions for Class 11 Entrepreneurship Know Thy Business on Infinity Learn.","custom_permalink":"study-material\/cbse-notes\/class-11\/business\/ncert-solutions-for-class-11-entrepreneurship-know-thy-business"},"categories":[92,21],"tags":[],"table_tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>NCERT Solutions for Class 11 Entrepreneurship Know Thy Business - Infinity Learn by Sri Chaitanya<\/title>\n<meta name=\"description\" content=\"Get NCERT Solutions for Class 11 Entrepreneurship Know Thy Business on Infinity Learn.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/infinitylearn.com\/surge\/study-material\/cbse-notes\/class-11\/business\/ncert-solutions-for-class-11-entrepreneurship-know-thy-business\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NCERT Solutions for Class 11 Entrepreneurship Know Thy Business - Infinity Learn by Sri Chaitanya\" \/>\n<meta property=\"og:description\" content=\"Get NCERT Solutions for Class 11 Entrepreneurship Know Thy Business on Infinity Learn.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/infinitylearn.com\/surge\/study-material\/cbse-notes\/class-11\/business\/ncert-solutions-for-class-11-entrepreneurship-know-thy-business\/\" \/>\n<meta property=\"og:site_name\" content=\"Infinity Learn by Sri Chaitanya\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/InfinityLearn.SriChaitanya\/\" \/>\n<meta property=\"article:published_time\" content=\"2022-02-01T04:42:30+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-01-20T09:43:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/infinitylearn.com\/surge\/wp-content\/uploads\/2022\/01\/Distinguish-between-Wholesale-and-Retail.jpg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@InfinityLearn_\" \/>\n<meta name=\"twitter:site\" content=\"@InfinityLearn_\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Prasad Gupta\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"18 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"NCERT Solutions for Class 11 Entrepreneurship Know Thy Business - Infinity Learn by Sri Chaitanya","description":"Get NCERT Solutions for Class 11 Entrepreneurship Know Thy Business on Infinity Learn.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/infinitylearn.com\/surge\/study-material\/cbse-notes\/class-11\/business\/ncert-solutions-for-class-11-entrepreneurship-know-thy-business\/","og_locale":"en_US","og_type":"article","og_title":"NCERT Solutions for Class 11 Entrepreneurship Know Thy Business - Infinity Learn by Sri Chaitanya","og_description":"Get NCERT Solutions for Class 11 Entrepreneurship Know Thy Business on Infinity Learn.","og_url":"https:\/\/infinitylearn.com\/surge\/study-material\/cbse-notes\/class-11\/business\/ncert-solutions-for-class-11-entrepreneurship-know-thy-business\/","og_site_name":"Infinity Learn by Sri Chaitanya","article_publisher":"https:\/\/www.facebook.com\/InfinityLearn.SriChaitanya\/","article_published_time":"2022-02-01T04:42:30+00:00","article_modified_time":"2024-01-20T09:43:35+00:00","og_image":[{"url":"https:\/\/infinitylearn.com\/surge\/wp-content\/uploads\/2022\/01\/Distinguish-between-Wholesale-and-Retail.jpg"}],"twitter_card":"summary_large_image","twitter_creator":"@InfinityLearn_","twitter_site":"@InfinityLearn_","twitter_misc":{"Written by":"Prasad Gupta","Est. reading time":"18 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Organization","@id":"https:\/\/infinitylearn.com\/surge\/#organization","name":"Infinity Learn","url":"https:\/\/infinitylearn.com\/surge\/","sameAs":["https:\/\/www.facebook.com\/InfinityLearn.SriChaitanya\/","https:\/\/www.instagram.com\/infinitylearn_by_srichaitanya\/","https:\/\/www.linkedin.com\/company\/infinity-learn-by-sri-chaitanya\/","https:\/\/www.youtube.com\/c\/InfinityLearnEdu","https:\/\/twitter.com\/InfinityLearn_"],"logo":{"@type":"ImageObject","@id":"https:\/\/infinitylearn.com\/surge\/#logo","inLanguage":"en-US","url":"","contentUrl":"","caption":"Infinity Learn"},"image":{"@id":"https:\/\/infinitylearn.com\/surge\/#logo"}},{"@type":"WebSite","@id":"https:\/\/infinitylearn.com\/surge\/#website","url":"https:\/\/infinitylearn.com\/surge\/","name":"Infinity Learn by Sri Chaitanya","description":"Surge","publisher":{"@id":"https:\/\/infinitylearn.com\/surge\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/infinitylearn.com\/surge\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"ImageObject","@id":"https:\/\/infinitylearn.com\/surge\/study-material\/cbse-notes\/class-11\/business\/ncert-solutions-for-class-11-entrepreneurship-know-thy-business\/#primaryimage","inLanguage":"en-US","url":"https:\/\/infinitylearn.com\/surge\/wp-content\/uploads\/2022\/01\/Distinguish-between-Wholesale-and-Retail.jpg","contentUrl":"https:\/\/infinitylearn.com\/surge\/wp-content\/uploads\/2022\/01\/Distinguish-between-Wholesale-and-Retail.jpg","width":663,"height":167,"caption":"Distinguish between Wholesale and Retail"},{"@type":"WebPage","@id":"https:\/\/infinitylearn.com\/surge\/study-material\/cbse-notes\/class-11\/business\/ncert-solutions-for-class-11-entrepreneurship-know-thy-business\/#webpage","url":"https:\/\/infinitylearn.com\/surge\/study-material\/cbse-notes\/class-11\/business\/ncert-solutions-for-class-11-entrepreneurship-know-thy-business\/","name":"NCERT Solutions for Class 11 Entrepreneurship Know Thy Business - Infinity Learn by Sri Chaitanya","isPartOf":{"@id":"https:\/\/infinitylearn.com\/surge\/#website"},"primaryImageOfPage":{"@id":"https:\/\/infinitylearn.com\/surge\/study-material\/cbse-notes\/class-11\/business\/ncert-solutions-for-class-11-entrepreneurship-know-thy-business\/#primaryimage"},"datePublished":"2022-02-01T04:42:30+00:00","dateModified":"2024-01-20T09:43:35+00:00","description":"Get NCERT Solutions for Class 11 Entrepreneurship Know Thy Business on Infinity Learn.","breadcrumb":{"@id":"https:\/\/infinitylearn.com\/surge\/study-material\/cbse-notes\/class-11\/business\/ncert-solutions-for-class-11-entrepreneurship-know-thy-business\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/infinitylearn.com\/surge\/study-material\/cbse-notes\/class-11\/business\/ncert-solutions-for-class-11-entrepreneurship-know-thy-business\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/infinitylearn.com\/surge\/study-material\/cbse-notes\/class-11\/business\/ncert-solutions-for-class-11-entrepreneurship-know-thy-business\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/infinitylearn.com\/surge\/"},{"@type":"ListItem","position":2,"name":"NCERT Solutions for Class 11 Entrepreneurship Know Thy Business"}]},{"@type":"Article","@id":"https:\/\/infinitylearn.com\/surge\/study-material\/cbse-notes\/class-11\/business\/ncert-solutions-for-class-11-entrepreneurship-know-thy-business\/#article","isPartOf":{"@id":"https:\/\/infinitylearn.com\/surge\/study-material\/cbse-notes\/class-11\/business\/ncert-solutions-for-class-11-entrepreneurship-know-thy-business\/#webpage"},"author":{"@id":"https:\/\/infinitylearn.com\/surge\/#\/schema\/person\/143c89c9c2f5e56ed91f96dde47b0b05"},"headline":"NCERT Solutions for Class 11 Entrepreneurship Know Thy Business","datePublished":"2022-02-01T04:42:30+00:00","dateModified":"2024-01-20T09:43:35+00:00","mainEntityOfPage":{"@id":"https:\/\/infinitylearn.com\/surge\/study-material\/cbse-notes\/class-11\/business\/ncert-solutions-for-class-11-entrepreneurship-know-thy-business\/#webpage"},"wordCount":3893,"publisher":{"@id":"https:\/\/infinitylearn.com\/surge\/#organization"},"image":{"@id":"https:\/\/infinitylearn.com\/surge\/study-material\/cbse-notes\/class-11\/business\/ncert-solutions-for-class-11-entrepreneurship-know-thy-business\/#primaryimage"},"thumbnailUrl":"https:\/\/infinitylearn.com\/surge\/wp-content\/uploads\/2022\/01\/Distinguish-between-Wholesale-and-Retail.jpg","articleSection":["CBSE Notes","Study Materials"],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/infinitylearn.com\/surge\/#\/schema\/person\/143c89c9c2f5e56ed91f96dde47b0b05","name":"Prasad Gupta","image":{"@type":"ImageObject","@id":"https:\/\/infinitylearn.com\/surge\/#personlogo","inLanguage":"en-US","url":"https:\/\/secure.gravatar.com\/avatar\/200104b443e586c76c46cadc113d931c?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/200104b443e586c76c46cadc113d931c?s=96&d=mm&r=g","caption":"Prasad Gupta"},"url":"https:\/\/infinitylearn.com\/surge\/author\/prasad\/"}]}},"_links":{"self":[{"href":"https:\/\/infinitylearn.com\/surge\/wp-json\/wp\/v2\/posts\/84034"}],"collection":[{"href":"https:\/\/infinitylearn.com\/surge\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infinitylearn.com\/surge\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infinitylearn.com\/surge\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/infinitylearn.com\/surge\/wp-json\/wp\/v2\/comments?post=84034"}],"version-history":[{"count":0,"href":"https:\/\/infinitylearn.com\/surge\/wp-json\/wp\/v2\/posts\/84034\/revisions"}],"wp:attachment":[{"href":"https:\/\/infinitylearn.com\/surge\/wp-json\/wp\/v2\/media?parent=84034"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infinitylearn.com\/surge\/wp-json\/wp\/v2\/categories?post=84034"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infinitylearn.com\/surge\/wp-json\/wp\/v2\/tags?post=84034"},{"taxonomy":"table_tags","embeddable":true,"href":"https:\/\/infinitylearn.com\/surge\/wp-json\/wp\/v2\/table_tags?post=84034"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}