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![Balbharati solutions for Organisation of Commerce and Management (OCM) [English] 11 Standard Maharashtra State Board chapter 1 - Introduction of Commerce and Business - Shaalaa.com](/images/organisation-of-commerce-and-management-ocm-english-11-standard-maharashtra-state-board_6:6d7a64cd67404b7ba86273ac2c28fe3b.JPG "Balbharati solutions for Organisation of Commerce and Management (OCM) [English] 11 Standard Maharashtra State Board chapter 1 - Introduction of Commerce and Business")
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Solutions for Chapter 1: Introduction of Commerce and Business
Below listed, you can find solutions for Chapter 1 of Maharashtra State Board Balbharati for Organisation of Commerce and Management (OCM) [English] 11 Standard Maharashtra State Board.
Balbharati solutions for Organisation of Commerce and Management (OCM) [English] 11 Standard Maharashtra State Board 1 Introduction of Commerce and Business EXERCISE [Pages 16 - 20]
Select the correct option and rewrite the sentence.
A Lawyer is__________
a Professional person
a Businessman
an employee
Select the correct option and rewrite the sentence.
The raw material is converted into finished product by ______ industry.
genetic
extractive
manufacturing
Select the correct option and rewrite the sentence.
The actual buying and selling of goods is known as _______
profession
trade
industry
Select the correct option and rewrite the sentence.
National level code of conduct is prepared for ________
professionals
businessmen
employees
Select the correct option and rewrite the sentence.
Construction of dams is an activity done under ________ industry.
primary
secondary
tertiary
Select the correct option and rewrite the sentence.
The problem of distance is solved by _______
bank
transport
warehousing
Select the correct option and rewrite the sentence.
Commerce is a branch of _______
business
industry
trade
Select the correct option and rewrite the sentence.
Return in business is called _______
fees
salary
profit
Select the correct option and rewrite the sentence.
A business unit depends upon ________ for selling its output.
industry
society
employees
Select the correct option and rewrite the sentence.
Warehousing creates _____ utility in goods.
place
time
form
Match the pairs:
| Group ‘ A’ | Group ‘ B’ |
| A) Helping disabled person | 1) Social objective |
| 2) Genetic Industry | 2) Foreign Trade |
| C) Local currency | 3) Sericulture |
| D) Solve social problems | 4) Non-economic activity |
| 5) Internal Trade | |
| 6) Mining | |
| 7) Profit | |
| 8) Economic activity |
Give one word/phrase/term.
A regular activity concerned with the production and distribution of goods and services for profits.
Give one word/phrase/term.
Human activities that are conducted for earning money.
Give one word/phrase/term.
Buying and selling of goods against money or money’s worth.
Give one word/phrase/term.
Activities that remove all the difficulties in trade.
Give one word/phrase/term.
The type of industries that creates immovable wealth.
Give one word/phrase/term.
Name the business activity which is concerned with the production of goods and services.
Give one word/phrase/term.
Name the business activity which is concerned with distribution of goods and services.
Give one word/phrase/term.
The activity which provides mobility to men and material.
Give one word/phrase/term.
An aid to trade which creates time utility.
Give one word/phrase/term.
An occupation by which a person agrees to provide expert services for fees.
State True or False.
Business is an economic activity.
True
False
State True or False.
Every profession is practiced for earning money.
True
False
State True or False.
Primary industries are concerned with nature.
True
False
State True or False.
Trade includes commerce.
True
False
State True or False.
Warehousing removes the difficulty of time.
True
False
State True or False.
Trade includes buying and selling of goods and services
True
False
State True or False.
Profit leads to an increase in the overall efficiency of the organization.
True
False
State True or False.
Plant nursery is an example of extractive industry.
True
False
State True or False.
Industry creates form utility.
True
False
Retailer is the link between manufacturer and wholesalers.
True
False
Find the odd one.
Agricultural Industry
Extractive Industry
Genetic Industry
Manufacturing Industry
Find the odd one.
Import Trade
Export Trade
Wholesale Trade
Entrepot Trade
Find the odd one.
Banking
Insurance
Transport
Manufacturing
Find the odd one.
Tea
Milk
Coffee
Machinery
Complete the sentence.
Economic activities are those activities which are conducted to Earn ___________
______ includes marketing of goods and services.
Complete the sentence.
Business is an _______ activity.
Complete the sentence.
The basic purpose of _________ is to earn profit;
Complete the sentence.
Professionals, charge _______ in exchange of expert services.
Complete the sentence.
________ is the person who offers the work.
Complete the sentence.
_______ is considered as a reward for assuming several business risks.
Complete the sentence.
Industry creates _________ utility.
Complete the sentence.
In ________ trade, goods are purchased and sold in bulk.
Complete the sentence.
_________ is the link between wholesaler and customer.
Select the correct option.
| Group A | Group B |
| Trade between different countries | _________________ |
Export trade
Foreign trade
Wholesaler
Import trade
Select the correct option.
| Group A | Group B |
| Purchase of goods and services from another country. | _________________ |
Export trade
Foreign trade
Wholesaler
Import trade
Select the correct option.
| Group A | Group B |
| ______________________ | Selling of goods and services to foreign customer |
Export trade
Foreign trade
Wholesaler
Import trade
Select the correct option.
| Group A | Group B |
| ______________________ | Link between producer and retailer |
Export trade
Foreign trade
Wholesaler
Import trade
Answer in one sentence.
What is an economic activity?
Answer in one sentence.
What is a non-economic activity?
Answer in one sentence.
What do you mean by wholesale trade?
Answer in one sentence.
What is the meaning of retail trade?
Answer in one sentence.
What do you mean by import trade?
Answer in one sentence.
What do you mean by export trade?
Answer in one sentence.
What is an entrepot trade?
Answer in one sentence.
What is meant by auxiliaries to trade?
Answer in one sentence.
What is trade?
Answer in one sentence.
What do you mean by commerce?
Answer in one sentence.
What is primary industry?
Answer in one sentence.
What is the secondary industry?
Answer in one sentence.
What do you mean by genetic industry?
Correct the underlined word and rewrite the sentence.
Business is a non-economic activity.
Correct the underlined word and rewrite the sentence.
Barter exchange is an exchange with money
Correct the underlined word and rewrite the sentence.
Profession can be transferred to another person.
Correct the underlined word and rewrite the sentence.
Capital is required for employment.
Correct the underlined word and rewrite the sentence.
Industry creates place utility.
Correct the underlined word and rewrite the sentence.
Commerce represents supply side of market.
Correct the underlined word and rewrite the sentence.
The basic purpose of business is to provide services.
Explain the following term/concept.
Business
Explain the following term/concept.
Profession
Explain the following term/concept.
Employment
Explain the following term/concept.
Home Trade
Explain the following term/concept.
Foreign Trade
Explain the following term/concept.
Economic Activity
Explain the following term/concept.
Non-economic Activity
Study the following case/situation and express your opinion.
Jaysukh oil mills produce refined oil. The entire production is purchased by Rupesh Oil Depot, Who in turn sells it to various retailers. Mrs. Prachi purchased 2kg oil from Balaji Groceries. Identify:
- Wholesaler
- Retailer
- Consumer
Study the follow ing case/situation and express your opinion.
Mr. Pranav is a tin manufacturer in India. Mr. Jack of England sells goods to M/s Frank Corporation in North America and Mr. Williams of USA buys various goods from Brazil.
- Who is the importer?
- Who is the manufacturer?
- Who is the exporter?
Distinguish between:
Industry and Commerce.
Distinguish between:
Business and Commerce.
Distinguish between:
Business and Profession.
Distinguish between:
Employment and Profession.
Answer in brief.
State any four features of profession.
Answer in brief.
State any two types of industries.
Answer in brief.
Give two types of Foreign Trade.
Answer in brief.
State any four auxiliaries to trade.
State any four features of employment.
Answer in brief.
Write any four objectives of the business.
Answer in brief.
State any four features of business.
Answer in brief.
State any two types of primary industry.
Justify the following statement.
Retailer is in direct contact with ultimate consumers.
Justify the following statement.
Commerce is a wider term than trade.
Justify the following statement.
Risk is inevitable in business activities.
Justify the following statement.
A combination of import-export trade is entrepot trade.
Justify the following statement.
Transport creates place utility.
Justify the following statement.
Industrial activities take place before commerce starts its role.
Justify the following statement.
Available resources should be used to its maximum.
Justify the following statement.
Wholesaler is a link between retailer and manufacturer.
Justify the following statement.
Business is part of economic activities.
Justify the following statement.
Changing fashions is one of the important causes of business risk.
Attempt the following.
What do you mean by commerce?
Attempt the following.
What is the meaning of export trade?
Attempt the following.
State the role of auxiliaries to trade in trading activities.
Attempt the following.
What are the different types of secondary industries?
Attempt the following.
State the types of human activities.
Attempt the following.
Describe the scope of internal trade.
Attempt the following.
How does banking and insurance help trading?
Attempt the following.
Give a comparative analysis of business, profession, and employment.
Attempt the following.
Define business. Explain its features.
Attempt the following.
Describe various other objectives of a business.
Attempt the following.
Explain the importance of profit in business.
Solutions for 1: Introduction of Commerce and Business
Balbharati solutions for Organisation of Commerce and Management (OCM) [English] 11 Standard Maharashtra State Board chapter 1 - Introduction of Commerce and Business
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Concepts covered in Organisation of Commerce and Management (OCM) [English] 11 Standard Maharashtra State Board chapter 1 Introduction of Commerce and Business are Introduction of Commerce and Business, Non-economic Activities, Economic Activities, Business Objectives, Role of Profit in Business, Classification of Business Activities.
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