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11th Commerce Important Question Paper 2

Published on: 28/07/2018

Some of the important questions are prepared from this Classification of Business Activities. In this question paper, questions are prepared from the book back and creative question.
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Download Tamil Nadu 11th Standard Commerce question papers, model tests, one-mark questions, important questions, and public exam papers in PDF format. Free study materials and answer keys for TN State Board students.

Questions + Answers key

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Std: 11th Standard - Commerce

chapter: - Model Question paper

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Questions:

Multiple Choice Question

10 x 1 = 10

Fishery & Piggery come under ____________

(a)

assembly industries

(b)

construction industries

(c)

genetic industries

(d)

continuous industries

Textiles and vehicle are classified under _____________

(a)

genetic industries

(b)

extractive industries

(c)

constructive industries

(d)

assembly industries

Warehouse facilities create ____________ utility.

(a)

service

(b)

place

(c)

time

(d)

form

_____________ is an essential part of commerce.

(a)

Insurance

(b)

Banking

(c)

Trade

(d)

Transportation

Business activities can be classified into ___________ categories.

(a)

two

(b)

three

(c)

four

(d)

five

The industries which provide support services to other industries are known as _____________

(a)

Primary Industry

(b)

Secondary Industry

(c)

Commercial Industry

(d)

Tertiary Industry

Commerce is mainly concerned with ______.

(a)

Connecting producer and consumer

(b)

Pricing of Goods

(c)

Buying and Selling of Goods

(d)

Manufacturing of goods

Normally high level risk involved in ___________

(a)

Industry

(b)

Commerce

(c)

Trade

(d)

All of the above

Production which involves several stages for manufacturing finished product is known as __________

(a)

Analytical Industry

(b)

Synthetic Industry

(c)

Processing Industry

(d)

None of the above

10.

Auxiliaries to trade is also called as ________.

(a)

Trade

(b)

(c)

Warehousing

(d)

Aids to Trade

Generic 2

6 x 2 = 12

11.

What is tertiary industry?

12.

What is Secondary industry?

13.

What are all the forms of Commerce?

14.

Give examples for primary industries.

15.

What are the classification of Tertiary industries?

16.

What do mean by industry?

Generic 3

6 x 3 = 18

17.

Write any three categories of Manufacturing industries.

18.

What do you mean by Warehousing?

19.

Narrate commerce with an example.

20.

Write any three characteristics of commerce.

21.

What do you mean by tertiary industries?

22.

Distinguish between Extractive industries and genetic industries.

Generic 5

2 x 5 = 10

23.

Compare industry, commerce and trade. (any 5)

24.

Explain the various kinds of industries on the basis of size.

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Answers Key:

Multiple Choice Question

10 x 1 = 10

(b)
construction industries

(a)
genetic industries

(a)
two

(d)
Tertiary Industry

(a)
Connecting producer and consumer

(a)
Industry

10.

(d)
Aids to Trade

Generic 2

6 x 2 = 12

11.

They do not produce goods. These industries produce utility services and sell them at a profit. They help trade, industry and commerce. This term also includes auxiliaries to trade like banking, insurance, warehouse, advertisement etc.

12.

Secondary Industries are concerned with using the materials which have already been extracted .at the primary stage. These industries process such materials to produce goods for final consumption or for further processing by other industrial units.

13.

Commerce comprises all forms of trade, viz.wholesale, retail, import, export, entrepreneurial services which aid and assist the trading activities such as banking, transport, warehousing, insurance and advertising.

14.

a. Agriculture
b. Farming
c. Forestry
d. Fishing
e. Horticulture

15.

Tertiary industries are :
a) Personalised service
b) Public service
c) Distributive service
d) Financial service
e) Quaternary service
f) Quinary service

16.

Industry refers to economic activities, which are connected with conversion of resources into useful goods.

Generic 3

6 x 3 = 18

17.

(i) Analytical Industry :
which analyses and separates different elements from the same materials, as in the case of oil refinery.
(ii) Synthetic Industry :
which combines various ingredients into a new product, as in the case of cement.
(iii) Processing Industry :
which involves successive stages for manufacturing finished products, as in the case of sugar and paper.

18.

Goods are not sold or consumed immediately after production.They are held in stock to make them available as and when required. A place where the process of storage is done is known as warehouse.The process of keeping the goods is known as warehousing.

19.

(i) Commerce refers to all those activities which are necessary for bringing goods from the place of production to the place of their consumption.
(ii) According to Evelyn Thomas "Commercial Operations deal with the Buying and Selling of goods, the exchange of commodities and the contribution of finished products".
(iii) Commerce includes not only trade but also services such as transport warehousing, packaging, insurance, banking and sales Promotion which are incidental or auxiliaries to trade.
(iv) Nearly every business transaction is a form of commerce. purchasing food at a restaurant, buying stocks on the stock market, selling goods in a store, drilling for oil etc.
(v) For example, international commerce takes place between countries, interstate commerce is done across state lines and electronic commerce takes place via the Internet.

20.

(i) Economic activities:
Commerce deals with all economic activities undertaken for profit.
(ii) Exchange of goods and Services:
Commerce involves an exchange of goods and services for profit.
(iii) Earning Motive :
Profit is an incentive for undertaking all commercial activities.

21.

Tertiary industries do not produce any goods. These Industries produce utility services and sell them at a profit. They help trade, Industry and Commerce. This term also includes auxiliaries to trade like banking, insurance, warehouse, advertisement etc.

22.

S.No.	Extractive Industries	Genetic Industries
(1)	Extractive industries refer to those activities which are concerned with the extraction of production of wealth from air, water, soil, etc.	Genetic Industries refers to those activities which are undertaken for reproduction of plants and animals with object of making profit.
(2)	Eg: Farming, Mining, Fishing	Eg: Agricultural activities for the production of crops, Animal husbandry, Dairy farming, Poultry farming

Generic 5

2 x 5 = 10

23.

Comparison between Industry, commerce and Trade

Basis	Industry	Commerce	Trade
(1) Meaning	Extraction, reproduction, conversion, processing and construction of useful products.	Activities involving distribution of goods and services.	Purchase and sale of goods and services.
(2) Scope	Consists of all activities involving conversion of materials and semi-finished products into finished goods.	Comprises trade auxiliaries to trade.	Comprises exchange of goods and services.
(3) Capital	Generally large amount of capital is required.	Need for capital is comparatively less.	Small capital is needed to maintain stock and to grant credit.
(4) Risk	Risk involved is usually high.	Relatively less risk is involved	Relatively less risk is involved
(5) Side	It represents supply side of goods and services.	It represents demand side of goods and services	It represents both supply and demand
(6) Utility Creation	It creates form utility by changing the form or shape of materials.	It creates place utility by moving goods from producers to consumers	It creates possession utility through exchange.

24.

On the basis of size or scale of operations industries may be classified as follows:
1. Micro Industries
2. Small Industries
3. Medium Industries and
4. Large Industries
Under the Micro, Small and Medium Enterprises (MSME) Development Act, 2006, the above types of industries are defined as follows.
1. Micro Units:
A unit wherein investment in plant and machinery is up to Rs. 25 lakhs in case of manufacturing and up to Rs. 10 lakhs in case of service enterprises.
2. Small Units:
A manufacturing unit wherein investment in plant and machinery is more than Rs. 25 lakhs but does not exceed Rs. 5 crore. In case of service enterprises these limits are Rs. 10 lakhs and Rs. 2 crore respectively.
3. Medium Units:
A manufacturing unit wherein investment in plant and machinery is more than Rs. 5 crore but does not exceed Rs. 10 crore. In case of service enterprises, these limits are Rs. 2 crore and Rs. 5 crore respectively.
4. Large Industries:
A manufacturing unit wherein investment in plant and machinery exceeds Rs. 10 crore. In case of a service unit investment in equipment exceeds Rs. 5 crore.