Class XI
BUSINESS STUDIES
BUSINESS, TRADE AND
COMMERCE
PRASHANT KIRAD
, PRASHANT KIRAD
Ch:1 BUSINESS, TRADE AND COMMERCE
What is Business?
A business involves regular activities of buying, producing,
selling, or obtaining goods and services, primarily to earn
profits while meeting societal needs. It encompasses various
transactions aimed at providing products or services to
satisfy human demands.
Exam mai aayega!
Economic and non economic activities (EMA)
1. Economic activities are actions taken to earn a living.
2. Non-economic activities are actions undertaken to satisfy social,
psychological, and emotional needs.
Characteristics:
2 t h
& 1
1. Economic activity: All business activities are undertaken primarily to earn
money.
1 h
t Business activities
1services or procuring them.
2. Production and procurement of goods and services:
d
involve either producing goods and
i rawhile shopkeepers handle procurement.
3. Sale and exchange ofn t
goods
Kand services: The sale and exchange of goods
Manufacturers focus on production,
s h
and services aim to a
satisfy human needs.
P ra Business activities must be conducted regularly; a one-
4. Regular dealings:
time transaction does not constitute a business.
5. Profit earning: The primary motive of any business is to earn a profit,
with other objectives depending on the success of this goal.
Business, Profession and Employment
Business:
1. Definition:
Activity includes production, purchase, and sale of goods or supply of
services with the main objective of earning profit.
2. Mode of Establishment:
Starts after completing some legal formalities if needed.
3. Qualification:
No minimum qualification is necessary.
BUSINESS STUDIES
BUSINESS, TRADE AND
COMMERCE
PRASHANT KIRAD
, PRASHANT KIRAD
Ch:1 BUSINESS, TRADE AND COMMERCE
What is Business?
A business involves regular activities of buying, producing,
selling, or obtaining goods and services, primarily to earn
profits while meeting societal needs. It encompasses various
transactions aimed at providing products or services to
satisfy human demands.
Exam mai aayega!
Economic and non economic activities (EMA)
1. Economic activities are actions taken to earn a living.
2. Non-economic activities are actions undertaken to satisfy social,
psychological, and emotional needs.
Characteristics:
2 t h
& 1
1. Economic activity: All business activities are undertaken primarily to earn
money.
1 h
t Business activities
1services or procuring them.
2. Production and procurement of goods and services:
d
involve either producing goods and
i rawhile shopkeepers handle procurement.
3. Sale and exchange ofn t
goods
Kand services: The sale and exchange of goods
Manufacturers focus on production,
s h
and services aim to a
satisfy human needs.
P ra Business activities must be conducted regularly; a one-
4. Regular dealings:
time transaction does not constitute a business.
5. Profit earning: The primary motive of any business is to earn a profit,
with other objectives depending on the success of this goal.
Business, Profession and Employment
Business:
1. Definition:
Activity includes production, purchase, and sale of goods or supply of
services with the main objective of earning profit.
2. Mode of Establishment:
Starts after completing some legal formalities if needed.
3. Qualification:
No minimum qualification is necessary.
