SET 4

Candidates are required to give answers in their own words as far as practicable.
Figures in the margin indicate full marks.
Group "A" [11×1=11]
Answer the very short questions.
1. What is business?
2. State the different forms of business organizations.
3. Write the two components of physical resources.
4. What is innovation?
5. Define the term 'financial resources'.
6. Who is nominal partner?
7. Mention two responsibilities of business towards the government.
8. Define the concept of cooperative organization.
9. Define fire insurance.
10. What do you mean by business ethics?
11. What do you understand by the term “insurer”?
Group "B" [8×5=40]
Give short answers to the following questions.
12. Explain the components of external environment of business.
13. Define financial resources with their major components.
14. Explain any five advantages of sole trading concern.
15. Describe the role of public enterprises in brief.
16. Define multinational company and explain its disadvantages.
17. Explain the rights of partners in partnership firm.
18. Explain the responsibility of business toward consumers and society.
19. Explain the major contents of Memorandum of Association.
Group "C" [3×8=24]
Give long answers to the following questions.
20. Define company business. Discuss the reasons for starting company form of
Business.
21. Explain the various types of co-operatives.
OR
Write the concept of creativity and discuss the different sources of generating
new business ideas.
22. What is insurance? Discuss the principles guiding insurance policy.
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XI/Business Studies/Morning Shift