RBSE Solutions for Class 11 Business Studies Chapter 10 Employment Opportunities in Commerce

Rajasthan Board RBSE Class 11 Business Studies Chapter 10 Employment Opportunities in Commerce

RBSE Class 11 Business Studies Chapter 10 Textual Questions and Answers

RBSE Class 11 Business Studies Chapter 10 Multiple Choice Questions

Question 1.
Which market is associated with retailing?
(a) Stock market
(b) Currency market
(c) Consumer market
(d) All of the above
Answer:
(c) Consumer market

Question 2.
What is software?
(a) Toy
(b) Machine
(c) Problem-solving system
(d) Special kind of clothes
Answer:
(c) Problem-solving system

Question 3.
Which institute provides training to become an insurance agent?
(a) Industrial Training Institute
(b) University
(c) Insurance Regulatory Authority
(d) Computer Training Institute
Answer:
(c) Insurance Regulatory Authority

Question 4.
Whom does the general insurance business sector appoint for compensation of claims?
(a) Surveyor
(b) Agent
(c) Actuary
(d) Development officer
Answer:
(a) Surveyor

Question 5.
The calculation of risk in life insurance is done by –
(a) Agent
(b) Actuary
(c) Account
(d) Surveyor
Answer:
(b) Actuary

Question 6.
Which work is mostly performed by a call centre?
(a) Replying to customer queries
(b) Contacting the consumers for sales promotion
(c) Resolving consumer problems
(d) All of the above
Answer:
(d) All of the above

Question 7.
The basis for the extension of banking everywhere is –
(a) Core Computing System
(b) ATM machine
(c) Card system
(d) Organizational Institute
Answer:
(a) Core Computing System

Question 8.
The nodal agency for self-employment which works for banks, and state and central governments are –
(a) Cooperative bank
(b) District Industrial centre
(c) District development Authority
(d) None of these
Answer:
(b) District Industrial centre

RBSE Class 11 Business Studies Chapter 10 Very Short Answer Type Questions

Question 1.
Give the meaning of e-commerce.
Answer:
The online transaction between a firm and its customers and suppliers is called Ecommerce.

Question 2.
Define Entrepreneurship.
Answer:
Entrepreneurship is an art of self-managing a business and setting up new enterprises that equally contains risk.

Question 3.
Write the name of four businesses under service sector.
Answer:

• Bank
• Insurance
• Consumer
• Capital Market.

Question 4.
Write the name of the agency which handles recruitment for administrative services for Rajasthan.
Answer:
Rajasthan Public Service Commission.

Question 5.
Define Mutual fund.
Answer:
Mutual Fund means doing business in the capital market by using the large fund collected from small investments of investors and distributing the earned profit among them.

Question 6.
Write the names of four accounting software.
Answer:

• Tally.
• NAAC.
• Munimji.
• Accountant.

Question 7.
Name the kinds of the insurance business.
Answer:
These are divided into 2 parts:

• Life Insurance.
• General Insurance.

Question 8.
Give the name of the department functioning at the district level for entrepreneurship development.
Answer:
District industry centre.

Question 9.
Give the full name of PMRY Scheme.
Answer:
Prime Minister Rural Employment Scheme.

RBSE Class 11 Business Studies Chapter 10 Short Answer Type Questions

Question 1.
Explain the function of an actuary in the insurance business.
Answer:
In order to calculate the risk involved in insurance, persons having specialized knowledge and training are required. Due to the extended tenure of Life Insurance policy, the calculation of insurance liability risk as a percentage of received premium amount becomes even more important. The persons who calculate such liability are called actuary.

Question 2.
Explain the implication of “anywhere banking”.
Answer:
The communication revolution has brought a fundamental change in the working system of the banks. Computers have given a new direction and dynamism to banking business is growing rapidly due to a debit card and net banking services. Net banking. ATM machines and credit cards of 24×7 working systems are operating in banks.

Question 3.
Mention the categories of the consumer market (retailing) and give the four names of possible businesses in it.
Answer:
Retailing has been divided into 2 parts:
1. Specialty Retailing

• Products related to pregnant women, infants and children.
• Healthcare and nutrition-related products.

2. Food Services retailing

• Fast food.
• Bread and Bakery products.

Question 4.
Describe the employees and officers appointed by the government in the department functioning for accounts, treasury control and editing. Also, give the names of major officers of this department.
Answer:
The central or state government operates a completely separate department, The accounts and audit department, to keep accounts of its finance-related activities and to control them. The account and general and monitoring department of the central government, and on the state level, the accounts and treasury directorate and local fund and audit department are functioning. Auditing functions of the department are performed by, accountant, assistant accounts officer and accounts officer.

Question 5.
Explain the implication of an E-commerce transaction.
Answer:
The transaction in e-commerce is not done on papers, but instead, the transaction is done online. The business is done through computer and banks play a major role in this, because every transaction of money is done through banks only.

Question 6.
Mention the functions of District Industrial Centre.
Answer:

• It organises entrepreneurship development training programs.
• It acts as a link between the entrepreneurs and the lead bank of the district.
• It provides guidance regarding various opportunities to the entrepreneurs.
• Compilation of information about local sources of raw materials and their availability.
• Provides information about various government schemes, subsidies, grants and assistance available from the other corporations set up for the promotion of industries.

Question 7.
Mention the equipment used in call centres.
Answer:
The call centre is a service framework, that is based on high-level communication and technology, in which a large number of telephone calls are handled, especially in one providing customer services function to a large organization.

Question 8.
What is outsourcing?
Answer:
Outsourcing is a business practise used by companies and it is done by shifting tasks, operations, jobs or processes to an external contracted third party, who are experts in that area. It can result in cost savings from lower labour costs to the reduction in the cost of production.

RBSE Class 11 Business Studies Chapter 10 Essay Type Questions

Question 1.
Mentioning the meaning of E-commerce and explain the categorization and process of transactions under it.
Answer:
The letter “E” in e-commerce is a short form of electronics, and “commerce” implies business transactions. Thus, e-commerce means such a transaction in which sellers and buyers execute business exchange through the internet without exchanging documents or without meeting each other. This business is done through computer and internet.

Classification and processing of E-commerce transactions:

1. Business To Business Transaction (B2B) – The business transaction done between two businesses is called B2B transaction.
2. Business To Consumer Transaction (B2C) – The business transaction done between Business and Consumers is called B2C transaction.
3. Consumer To Business Transaction (C2B) – The business transaction done between consumer to business is called C2B transaction.
4. Consumer To Consumer Transaction (C2C) – The business transaction done between two consumers is called C2C transaction.

E-commerce has two aspects – Direct and Indirect. In Indirect aspect, the product is only information which is sent through the computer.

For example:
A newspaper. Today, many newspapers are read through the internet only. In the same way, documents, books, mail, verbal messages, music, film, photograph, market prices, direction to withdraw or deposit money, etc. are mere information. They can easily be sent through the internet.

The second aspect is direct, which includes all those products which are not mere information. A trader can display his product to you on the internet. The transaction is executed through a computer and then the product is sent to the customer’s home. Advertisements are given, order for the product is given, and the shopkeeper can provide information about his product in any corner of the world, sitting back at home.

Now traders do not need to open their stores at various locations and also do not need to appoint agents. Reverse advertisements are also given freely, that is, the buyer can put such information on the internet that he needs a product of a certain quality or a certain range.

Question 2.
What is the call centre? Explain its functions, and clarify its importance in India’s context.
Answer:
A call centre is a service framework, that is based on high-level communication and technology, in which a large number of telephone calls are handled, especially in one providing the customer services function to a large organization.

Functions of a Call centre:

• Replying to customers against their queries.
• Providing technical guidance to the customers of the company.
• Registering a customer’s complaints.
• Solving the problems of the customer.
• Giving customers a different type of information.

Importance of call centres in Perspective of India:
India is a developing country, where economic growth is achieved majorly through technical development. For the sale of products here, various companies have started using telemarketing, telebanking, television, and home shop facilities. Call centres are the mediators in between the organizations and the customers. They work and gap the bridge between the two.

In India, there are a large number of call centres and these organizations are serving the clients with utmost care and conviction. A call centre in India provides the best quality support and customer care services. The call centres are increasing employment opportunities among the youth at a vast level.

They are being designated as Call Centre Advisor, Team Leader, Call Centre Manager, Head of the Call Centre, Customer Services Director, Digital Contact Director, Operational Manager, Resource Planning Manager, Human Resources (HR) Trainer, etc. Today, many call centres are operating in India in Delhi, Gurgaon, Bengaluru, and Hyderabad in order to perform various tasks. They deal with customers’ queries and help them to get the best information.

Technical help desk service is also provided to them, as they deal with the technical issues of the customers and the agents try to troubleshoot their problems and show them the right way. Indian call centres have been successful on an extensive level since the level of English language proficiency in Indian youth is good and their pronunciation is also very good and acceptable at the international level.

Question 3.
Clarify and explain the employment opportunities available in the administrative sector.
Answer:
Skilled and professional persons are appointed at high-level positions in various undertakings of the public and private sector and in government departments for managerial and administrative control.
(1) Employment in the Government Sector:
Skilled persons are appointed at high-level positions in various undertakings of the public and private sector and in government departments for managerial and administrative control. They are appointed as gazetted officers in the government sector and executive officers in the private sector.

Tax revenue, statistics, digitization, finance-related departments give priority to commerce graduates and professionals. This selection is done on a national level in the entire country. Apart from this, employment opportunities are available in Indian Administrative Service, Indian Police Service, Indian Foreign Service, Indian Railway Service.

(2) Employment in the public sector:
Rajasthan Public Service Commission Organizes the process for providing employment opportunities in the administrative field in state-related departments in Rajasthan. This is the recruitment and selection agency of the state government. Many employment opportunities exist in the administrative and finance & accounting departments of various public sector enterprises, public sector undertakings of the central and state governments, like- NTPC, SAIL, GAIL, RTDC, RFC, RIICO, RMMDC, etc.

1. Managing Director – The govt. appoints its representative who is from the Indian Administrative Service to control the unit.
2. Financial advisor – As the government gives grants to the public sector, they also appoint their representative in this to make financial decisions as a financial advisor.
3. Taxation Advisor – The government appoints taxation advisor in revenue receiving departments to fix the taxation structure and to handle tax-related accounting functions.
4. Company secretary – Companies are formed and operated according to the companies Act of 1950, so according to the company’s law, a Company Secretary is appointed by the “government for the maintenance of books, holding meetings, and to record the proceeding related to the meeting.
5. Cost Accountant – Those departments and public undertakings of the government which deal in construction work or service business appoint cost accountants.

Question 4.
Explaining Self, Employment, describe the various schemes for its development.
Answer:
Self-employment is a situation in which an individual works for himself instead of working for another employer who pays a salary or a wage in return of the services extended by him. A self-employed individual earns his income by conducting profitable operations of a trade or business that he operates directly.

Various schemes have been run for the development of self-employment and they are:

1. Rural Youth Training Scheme – The government has started a training program to stop the migration of youth to the cities and to preserve handicrafts. A stipend of 3000 is given in the duration of the vocational training for food and lodging and a “tool kit” is provided after training so that they can do their own business.
2. IRDP (Integrated Rural Development Program) – In March 1976, in order to raise the standard of living of rural families living under the poverty line, provision was made under this to provide training and financial assistance to them. This is the country’s most extensively-operated scheme.
3. Mahatama Gandhi Employment Scheme – This is a scheme to provide employment to at least one member of a rural family. It was initiated in 1989.
4. Self Employment Scheme for Urban Poor – The government of India started this scheme after consultation with RBI in 1986 to enable adoption of self-employment by people of BPL families living in towns and cities with a population of more than 10,000 through the provision of grants and loans.
5. Nehru Employment Plan – This scheme was started in 1989 to create employment in urban areas and was implemented through municipalities. 10 lakh employment opportunities are created every year under this scheme.
6. Prime Minister Employment Scheme – The main objective of this scheme is to motivate the educated unemployed to establish and operate an industry or business by providing them with financial assistance. This scheme was launched in all districts of the country has a population of less than 10 lakh. It was started in 1993 by merging the formerly implemented “Self Employment Scheme for Educated Unemployed, 1983”.

Question 5.
Write an article on employment possibilities in the service sector.
Answer:
Personnel is mainly recruited at the post of clerk-cum-cashier, and probationary officer in the management cadre. In addition to this, employment opportunities are being made available for the post of the computer network in charge, marketing officer, vehicle loan officer, personnel training officer, home loan sales officer and credit card sales representative.
(1) Employment opportunities in the Insurance sector:
Two types of insurance are there life insurance and general insurance. Life Insurance Corporation of India is providing employment in different categories through its 1 corporate office, 8 regional offices, 105 divisional offices and 3250 branch offices. After 1991, the life insurance sector was reopened to private and foreign companies. At present, employment opportunities are available through 8768 offices in the private sector.

About 2 lac 85 thousand personnel are currently employed in the Life Insurance sector and employment is also provided to 29 lac 10 thousand personal agents. In the private sector, Bajaj Allianz General Insurance Company Limited, ICICI Lombard General Insurance Company Limited, TATA AIG General Insurance Company limited, Star Health And Allied General Insurance Company Limited are mainly included. Employment opportunities in General Insurance business include posts of Clerk, Marketing officer, Actuary, Insurance agent, Development officer, Administrative officer, Surveyor.

(2) Employment Opportunities in the Banking Sector:
Banks are considered to be the foundation of trade, industry and economy. After the nationalization of banks in 1969, banking services were extended to distant areas by public sector banks. Under the economic liberalization in 1991, banking was introduced in the private sector. The banking business is growing rapidly due to various facilities such as debit card and tally banking. Net banking, ATM machines and credit cards are providing 24×7 banking services.

The major banks in the public sector include State Bank of India, Bank Of Baroda, Punjab National Bank, United Commercial Bank, Dena Bank, Indian Bank, Syndicate Bank. At present, about 70421 branches of these Banks are functioning and 6.18 lakh personnel are employed in them. The private sector banks include HDFC, ICICI, Axis Bank, Yes Bank, etc. About 14581 branches in the private sector are operational at present.

Personnel is mainly recruited on the post of clerk-cum-cashier, and probationary officers in the management cadre. Other than that, the computer network in charge, marketing officer, vehicle loan officer, home loan sales officer, legal advisor and credit card sales representative are also appointed.

(3) Employment opportunities in Capital Market:
The trading of shares, credit notes, bonds and debentures is done in the capital market. Capital market is the blood of the economy of a country where trading worth billions of rupees is done every day. Both direct and indirect trading is done. Direct Business is the one in which the traders themselves apply to the public holding and sale/purchase shares and debentures in the stock market.

This involves higher risks of profit and loss. While indirect business includes mutual funds, where the trader himself does not do the trading, instead. fund companies buy and sell in large volumes in the form of their representatives, so that the risks are minimized for traders and returns are assured. Employment opportunities in Retailing, Products related to pregnant women, infants and children are available.

Today, there is an increasing trend in fashion and show in India. There exists a very great possibility in the retailing of sarıs and traditional attire. The trend and extent of the practice of giving-receiving gifts are increasing rapidly in India. The possibilities of health-promoting products have increased in the retail business. Extensive changes have come in lifestyle due to such related sectors.

Question 6.
Describe the possible business opportunities in the consumer market.
Answer:
Among the largest retail business group, four companies operate in the departmental store format. These are, Shoppers Stop. Westside, Lifestyle and Pantaloon. The contribution of all these in the annual retail sale is not more than 2700 crore rupees, whereas the emerging hypermarkets and joints, Food World and Big Bazaar, which are food and grocery supermarkets, contribute up to 2500 crores annually. Among food services, top players like Haldiram, Café Coffee Day, Yum, McDonald’s, Nirulas and Barista exceed revenue of 600 crores.
(1) The object of the special consumer market – All those products and services are included in this category, which is used by common people in routine daily life.

1. Jewellery and fashion jewellery – Today, there is an increasing trend of fashion and over show in India. The need for jewellery in the middle and upper class has become as useful as food. The number of jewellery shops has increased in the cities and town.
2. Games and infra – textile products- Extensive changes have come in lifestyle-related sectors. Demand for a special attire for sports and men’s/women’s innerwear products is also increasing. Thus, possibilities exist in the consumer market in this sector.
3. Health protection and nutritious products – The fact has emerged from various research institutions that people in India are becoming quite aware of their health.

(2) Food trade – Due to the changes that have taken place in the lifestyle and culture of Indian youth, eating habits, methods and products have also changed rapidly.

1. Indian sweets and savouries – There are plenty of Indian savouries, sweets and snacks in the market. Local savouries and snacks, such as cutlets and vegetable-stuffed bread are in great demand. Thus, the retailing of these products at the regional and national level has enormous business possibilities and ensures a high ratio of success.
2. Fast food – The trend of consuming fast food is increasing among all income and age groups in India. The push to the market in this sector may have been provided by foreign brand products-pizza or burger, but customers for local fast food remain in large numbers even today, and they dislike local fast food and are satisfied only with these. Thus, keeping the focus on good customer service, cleanliness, quality and reasonable pricing, local fast food items like – Mirchi vada, Dosa, Idli, Pav-Bhaji, Kachori, Samosa, Bhujiya, Sattu, etc. also have great business possibilities.
3. Bakery Food Items – Today, the trend of baked food products has increased in society and in addition to this, the demand for various kind of bread is increasing. The trend of bread with varying tastes and protein-based bread is growing. In upper-class people, brand-based bread of star hotels, like ‘Bread and More’ and ‘hot bread’ are a favourite, and their success indicates enormous business possibilities which lie in this sector.
4. Ice cream and Juice Parlours. The current changes in eating habits of Indians have resulted in a continuous increase in the demand for ice creams and juices. Nowadays, eating ice cream after meals or while walking in parks in the evening or having juice is becoming a common habit. Thus, considerable business opportunities exist in this sector. Local products can be made popular by paying attention to their quality, packing and price.

RBSE Class 11 Business Studies Chapter 10 Additional Question and Answers

RBSE Class 11 Business Studies Chapter 10 Multiple Choice Questions

Question 1.
The element that affects employment is –
(a) The population of the country
(b) Literacy rate
(c) Taxation policy
(d) All of the above
Answer:
(d) All of the above

Question 2.
The chances of employment in the service area are –
(a) In banks
(b) In Insurance
(c) In the Consumer market
(d) In all of the above
Answer:
(d) In all of the above

Question 3.
The first insurance was done in London of William Gibbons. It was done in the year –
(a) 1583
(b) 1971
(c) 1956
(d) 1872
Answer:
(a) 1583

Question 4.
The first Indian Insurance Institute which was established was –
(a) Bombay Mutual Insurance society
(b) Life Insurance Corporation of India
(c) Kotak Mahindra
(d) None of these
Answer:
(a) Bombay Mutual Insurance society

Question 5.
The life insurance business in India was nationalized in the year –
(a) 1872
(b) 1956
(c) 1948
(d) 1935
Answer:
(b) 1956

Question 6.
The general insurance business in India was nationalized in the year –
(a) 1872
(b) 1956
(c) 1948
(d) 1935
Answer:
(c) 1948

Question 7.
To become an agent, practical training has to be taken by IRDA(Indian Regulatory Development Authority) –
(a) For 100 hrs
(b) For 1 month
(c) For 15 days
(d) None of these
Answer:
(a) For 100 hrs

Question 8.
This is not a public sector bank –
(a) State Bank of India
(b) Indian Bank
(c) HDFC
(d) Punjab National Bank
Answer:
(c) HDFC

Question 9.
The business of the capital market is of –
(a) Shares
(b) Debentures
(c) Securities
(d) All of these
Answer:
(d) All of these

Question 10.
The activity of the stock market is –
(a) To transact shares and debentures
(b) to earn profit
(c) to transact bonus shares
(d) all of these
Answer:
(d) all of these

Question 11.
The person who does the transaction by becoming a member of the stock exchange is called –
(a) broker
(b) lead manager
(c) surveyor
(d) actuary
Answer:
(a) broker

Question 12.
The opportunities for employment are available in mutual fund companies in the form of –
(a) investment analyst
(b) portfolio manager
(c) agent
(d) All of the above
Answer:
(d) All of the above

Question 13.
This is not the work of a call centre –
(a) not to reply to the customer’s query
(b) to start a campaign on the telephone regarding the making of new customers
(c) to resolve the customer’s query
(d) all of the above
Answer:
(a) not to reply to the customer’s query

Question 14.
For administrative appointments in central government departments, which of these conducts exams?
(a) Union Public Service Commission
(b) Rajasthan Board
(c) State Public Service Commission
(d) None of these
Answer:
(a) Union Public Service Commission

Question 15.
The business between two businesses in e-commerce is called –
(a) B2C
(b) B2B
(c) C2B
(d) None of these
Answer:
(b) B2B

Question 16.
Most transactions in E-commerce at present are done under –
(a) C2C
(b) C2B
(c) B2B
(d) B2C
Answer:
(c) B2B

Question 17.
A language of the computer is –
(a) COBOL
(b) LINUX
(c) JAVA
(d) All of the above
Answer:
(d) All of the above

Question 18.
To perform accounting tasks through a computer, the popular software is –
(a) Tally
(b) NAAC
(c) Munimji
(d) All of the above
Answer:
(d) All of the above

Question 19.
The entrance of youth in the business and industrial sector, motivating and training them is called –
(a) Entrepreneurship Programme
(b) Entrepreneurship
(c) Salaried Employment
(d) None of these
Answer:
(a) Entrepreneurship Programme

Question 20.
“Entrepreneurship means establishing new ventures in the general form”. Who said this?
(a) Prof. Uday Pareek
(b) Manohar Nadkarni
(c) Both of them
(d) None of them
Answer:
(c) Both of them

Question 21.
Feature of Entrepreneurship is –
(a) Doing innovative and creative tasks
(b) Increasing business opportunities
(c) Coordinating and organizing the means of production
(d) All of the above
Answer:
(d) All of the above

Question 22.
The type of business in which capital investment is huge and big machines are used for more production is called –
(a) Cottage industry
(b) Large-scale industry
(c) Small-scale industry
(d) All of the above
Answer:
(b) Large-scale industry

Question 23.
The kind of business where a single person bears. the risks and only a single person invests in it, is called –
(a) Joint family business
(b) Cooperative business
(c) Single Proprietorship business
(d) All of the above
Answer:
(c) Single Proprietorship business

Question 24.
Which problem is eradicated due to self-employment in developing countries?
(a) Unemployment
(b) Poverty
(c) Starvation
(d) All of the above
Answer:
(d) All of the above

Question 25.
Which is not a self-employment scheme of the rural area?
(a) Nehru Employment Scheme
(b) Rural Youth Training Scheme
(c) Integrated Rural Development Programme
(d) Mahatma Gandhi Employment Scheme
Answer:
(a) Nehru Employment Scheme

Question 26.
Under “Integrated Rural Development Programme”, how much money was provided for training and financial assistance?
(a) 4000 rupees
(b) 3000 rupees
(c) 2500 rupees
(d) 5000 rupees
Answer:
(b) 3000 rupees

Question 27.
When was IRDP initiated?
(a) March 1976
(b) March 1986
(c) March 1977
(d) March 1996
Answer:
(a) March 1976

Question 28.
The scheme initiated to provide employment to at least one member of every family in 1989 was –
(a) Desert Developing Scheme
(b) Nehru Employment Scheme
(c) Mahatma Gandhi Employment Scheme
(d) Prime Minister of Employment Scheme
Answer:
(c) Mahatma Gandhi Employment Scheme

Question 29.
When was Nehru Employment Scheme initiated?
(a) In the year 1972
(b) In the year 1989
(c) In the year 1972
(d) In the year 1999
Answer:
(b) In the year 1989

Question 30.
PMRY was initiated on less than how much population?
(a) 10 lakh
(b) 15 lakh
(c) 8 lakh
(d) 20 lakh
Answer:
(a) 10 lakh

RBSE Class 11 Business Studies Chapter 10 Very Short Answer Type Questions

Question 1.
State two factors that affect the chances of self- employment.
Answer:

• The population of the country.
• Status of literacy.

Question 2.
Which was the first life insurance society established in the country?
Answer:
Bombay Mutual Life Insurance Society.

Question 3.
General insurance is divided into how many parts?
Answer:
It is divided into 3 parts

• Fire insurance.
• Water insurance.
• Accidental insurance.

Question 4.
Name 2 institutes who do business under General insurance.
Answer:

• National Insurance Company Limited.
• New India Insurance Company Limited.

Question 5.
Why is Surveyor needed by the insurance companies?
Answer:
A Surveyor is needed by the insurance companies to scrutinize an incident and give an assessment in order to determine the damages, for compensation and settlement of claims.

Question 6.
What is the role of an insurance agent?
Answer:
Insurance agents are the fundamental basis of the insurance business. They sell various products from the company.

Question 7.
What are the qualifications required for becoming an insurance agent?
Answer:
10th and 12th board exams must be qualified.

Question 8.
Why are banks considered as the basis of business, industries and economy?
Answer:
Banks function to deposit money received by the public and provide advance loans. That is why, banks are considered as the basis of business, industries and economy.

Question 9.
How many branches of public banks are there at present?
Answer:
Around 70,421 branches.

Question 10.
How many people are employed in public banks at present?
Answer:
Around 14,584 people.

Question 12.
What all important designations are there in a bank?
Answer:
Clerk-Cum-Cashier and probationary officer in the management cadre.

Question 13.
Mention two important employment opportunities available in the capital market.
Answer:

• Stock market.
• Mutual fund company.

Question 14.
What is the stock market?
Answer:
The place where the listed shares and credit notes of companies are bought and sold is called the stock market.

Question 15.
Who is a broker?
Answer:
One who can do the business of selling-buying by becoming a member of the stock exchange or an agent of such a member.

Question 16.
What is the role of an investment analyst in the capital market?
Answer:
They give advice after analyzing various market situations, company performance, government policies, etc.

Question 17.
Who does the division and classification of capital investment in mutual fund companies? Answer:
Portfolio manager.

Question 18.
Agency business is done to sell/buy the products of the mutual fund, this is done by?
Answer:
By agent.

Question 19.
What is the role of outsourcing in the Indian economy?
Answer:

• Increase in foreign exchange.
• Helps in removing unemployment.

Question 20.
What’s the full form of BPO in context to commerce.
Answer:
Business Process Outsourcing.

Question 21.
What is BPO?
Answer:
Business processing outsourcing is the methodology in which those products or services are obtained from external sources which are needed for business activities or processes.

Question 22.
State two works done by call centres.
Answer:

• Replying to queries of customers of the company.
• Conducting sales campaign on phone to make new clients.

Question 23.
The work of call centres is entirely based on which equipment?
Answer:
Telephone and Computer.

Question 24.
How much is India’s consumer market annually?
Answer:
Around 8 lac crore.

Question 25.
What do you mean by retail?
Answer:
The coordination and selling of various products that are used in day to day activities of a person.

Question 26.
State two areas of retailing.
Answer:

• Products related to pregnant women, infants and children.
• Saris and traditional Indian apparel.

Question 27.
State two food services in retailing.
Answer:

• Fast food.
• Salad and sandwich parlours.

Question 28.
What are the employment opportunities available for persons who qualify for the civil services exam?
Answer:
Indian Administrative Service, Police Service, Foreign Service, Railway Service.

Question 29.
To keep accounts of their finance-related activities, central and state governments operate which department?
Answer:
Accounts and Audit department.

Question 30.
What is a consumer to consumer E-commerce?
Answer:
The business transaction done between two consumers is called C2C transaction.

Question 31.
What is COBOL, JAVA?
Answer:
These are Computer languages used to develop software and manage it.

Question 32.
What is an industry programme?
Answer:
The entrance of youth in the business and industrial sector, and promoting them for the same is called the industrial program.

Question 33.
On the basis of size, the industry is divided into how many parts?
Answer:

• Large-scale industry.
• Small-scale industry.

Question 34.
What is a small business?
Answer:
The running of the business through minimum available resources only is called small business.

Question 35.
What is private entrepreneurship?
Answer:
The type of business in which the risks are borne by a single person and the capital invested is also arranged by a single person only.

Question 36.
Leadership based Entrepreneurship is of how many types?
Answer:

• Individual Entrepreneurship.
• Group Entrepreneurship.

Question 37.
What is Individual Entrepreneurship?
Answer:
The Entrepreneurship in which the single individual takes the entire decision is called Individual Entrepreneurship.

Question 38.
Mention two impacts of self-employment on the economy of the country.
Answer:

• Helps in reducing unemployment.
• Better use of environmental means.

Question 39.
Mention two schemes initiated by the government for making a healthy environment towards self-employment.
Answer:

• The rural youth training scheme
• Self Employment Scheme for the urban poor.

Question 40.
When was “Integrated Rural Development Programme” initiated?
Answer:
In March 1976.

Question 41.
Which is the scheme that provides employment to at least one member of every rural poor family?
Answer:
Mahatma Gandhi Employment Scheme.

Question 42.
How much loan is provided to the urban poor under the scheme?
Answer:
25 per cent.

Question 43.
How many employment opportunities are created each year under Nehru Employment Scheme?
Answer:
10 lakh.

Question 44.
What is the main objective of PMRY?
Answer:
Motivating the educated unemployed to establish and operate an industry or business by providing them with financial guidance.

Question 45.
What are the efforts done on financial institute level for the development of entrepreneurship?
Answer:

• Establishment of RIICO.
• Setting up of Economic Development Board.

Question 46.
Who is the third richest person, related to Rajasthan?
Answer:
Lakshmi Mittal.

RBSE Class 11 Business Studies Chapter 10 Short Answer Type Questions (SA – I)

Question 1.
State the objectives of factors of employment opportunities.
Answer:
Objectives of factors of employment opportunities:

• Availability of education and health services.
• The population of the country.
• Better utilization of resources.
• Business and entrepreneurial law.
• The industrial policy of the country.
• Capital investment of the country.

Question 2.
The task of general insurance in the public sector is done by which insurance companies?
Answer:
The work of general insurance is done by General Insurance Corporation of India and its four associate companies in the private sector. These include National Insurance Company Limited, New India Insurance Company Limited, United India Insurance Company Limited and The Oriental Insurance Company Limited.

Question 3.
What are the employment opportunities available in the general insurance business?
Answer:
Following are the employment opportunities available in the general insurance business:

• Clerk
• Marketing Officer.
• Actuary.
• Insurance agent.
• Development officer.
• Administrative officer.
• Surveyor.

Question 4.
What are the qualifications required to be an agent in general insurance?
Answer:
It is necessary for an insurance agent to have passed the 10th or 12th board exam. In addition, they have to undergo practical training of 100 hours duration. The training is provided by district-level insurance companies. After, completion of training, the agent has to work under a development officer.

Question 5.
What is the stock market?
Answer:
The place where the listed shares and credit notes of companies are bought and sold is called the stock market. The functions of clearance and transfer of company shares, credit notes, distribution of clearance, bonus shares clearance, etc. are performed by the stock market.

Question 6.
What are the employment opportunities available in the stock market?
Answer:

• Broker.
• A lead manager or Registrar.
• Employment opportunity as a bolt operator.
• Employment opportunity as an accountant.
• Employment opportunity as a commission house.
• Employment opportunity as a trainer under the investor education programme
• Self-trading as an employment opportunity.

Question 7.
State the possibilities of employment in mutual fund companies.
Answer:
Following are the possibilities of employment in mutual fund companies:

• Investment Analyst
• Portfolio Manager
• Agent
• Employment opportunity as an advisor
• Employment opportunity as a taxation advisor
• Employment opportunity as an evaluator
• Employment opportunity in clerical and managerial functions in the office, as a computer operator, accountant, information collector, etc.

Question 8.
What are the jobs done by the call centre?
Answer:
Following are the jobs done by a call centre:

• Replying to the customer’s query.
• Making new customers.
• Providing technical guidance to the customers by the company.
• Stating the customer’s problems.
• Resolving the customer’s problems.
• Providing information to the customers.

Question 9.
State the employment opportunities in business under retail market.
Answer:
The trend of consuming fast food is increasing among all income and age groups in India. The push to the market in this sector may have been provided by foreign brand products, pizza, burger. But consumers for local fast food remain in large numbers even today and they like that more. Thus, fast food, salad and sandwich parlours, bread and products related to a bakery like food courts, ice cream and juice parlour, snack food are the main employment opportunities in the product business under retail market.

Question 10.
Why is company secretary appointed by the government?
Answer:
Various companies are formed and are operating under the Companies Act of 1950, and so, according to company law, a company secretary is appointed by the government for maintenance of books, holding meetings, and to record the minutes related to the meeting.

Question 11.
What is the role of the internet in E-commerce?
Answer:
Role of Internet in E-Commerce:

1. Such transactions in which search, ordering and payment, etc. are done through the internet and delivery of the product is done physically.
2. Such transactions in which the product is handed over physically, but can also be delivered in digital form. In this category are included such media products as – film, various kinds of printed matter, video games, carrier media like tape, CD and disk. etc.

Question 12.
What are the characteristics included in entrepreneurship?
Answer:
Following are the characteristics included in entrepreneurship

• The ability to take the risk.
• Innovative and creative work.
• Maximizing opportunities for business.
• Coordinating and organizing the means of production.
• Establishing industry or business with psychological motivation for achieving profits.

Question 13.
What do you mean by joint-venture entrepreneurship?
Answer:
The type of entrepreneurship, wherein the government jointly collects the limited capital is known as joint-venture entrepreneurship. The government tries to bring growth and development for them.

Question 14.
What is co-operative entrepreneurship?
Answer:
Such an enterprise in which the business is operated and formed with the objective of co-operativeness is called co-operative entrepreneurship. The most prominent example of co-operative entrepreneurship is the cooperative of Lijjat papad formed by women.

Question 15.
Explain the self-employment scheme initiated by the government.
Answer:
The government has started a training program to stop the migration of youth to the cities and to preserve handicrafts. A stipend of 3000 is given in the duration of the vocational training for food and lodging and a “tool kit” is provided after training so that they can do their own business.

Question 16.
Explain the self-employment scheme run for the urban poor.
Answer:
The government of India started this scheme after consultation with RBI in 1986 to enable adoption of self-employment by people of BPL families living in towns and cities with a population of more than 10,000 through the provision of grants and loans.

The main elements of this scheme are as follows:

• The person should be living in an urban area for the last 3 years.
• The person should not have any outstanding loan.
• 25 per cent of loan is given as a grant.
• No collateral or guarantee is needed for the loan.
• The person should be literate.

Question 17.
What efforts are made for entrepreneurship development by various government and financial institutes?
Answer:
Efforts that are made for entrepreneurship development by various government and financial institutes:

• Encouraging self-employment and efforts are made to create an atmosphere and to motivate people.
• On an educational level, encouraging self-employment mentality in schools/colleges.
• On the financial institution level, efforts are made to provide capital assistance for self-employment by giving loans on easy stipulation without a collateral requirement.

Question 18.
What efforts are made for the growth of entrepreneurship in Rajasthan?
Answer:
Efforts that are made for the growth of entrepreneurship in Rajasthan, are the following:

• Establishment of Rajasthan Finance Corporation.
• Assistance to sick units.
• Women entrepreneur training.
• Organizing handicraft festivals and fair.
• Single- window clearance scheme.
• Organizing international Rajasthan convention.
• Setting up of economic development board.

RBSE Class 11 Business Studies Chapter 10 Short Answer Type Questions (SA – II)

Question 1.
Employment opportunities are divided into how many parts?
Answer:
Providing available opportunities of employment for fulfilling the daily needs is called Employment opportunities.
They are divided into 2 parts:

1. Salaried employment.
2. Self-employment.

1. Salaried employment:
In Salaried employment, the employee accepts a job from an organization according to his abilities and receives a salary in return.
2. Self Employment:
Self-employment is such entrepreneurship in which the person does his own business, performs an economic activity and earns a profit.

Question 2.
What do you mean by direct and indirect business in the capital market?
Answer:

1. Direct Business:
   In this, the traders themselves apply to the public holding and sale/purchase shares and debentures in the stock market. This involves a higher risk of profit or loss.
2. Indirect business:
   This includes mutual funds, where the trader himself does not do the trading, instead, fund companies buy and sell in large volumes in the form of their representatives, so that the risks are minimized for traders and returns are assured.

Question 3.
What is the call centre? What employment opportunities are there in it?
Answer:
The call centre is a service framework, that is based on high-level communication and technology, in which large numbers of telephone calls are handled, especially the one providing customer services function to a large organization.

Employment opportunities in call centres are –

• Consumer assistance officer.
• Female telephone operator.
• Technical assistance officer.
• Collection and storage officer.
• Telephone-based recruiters.

Question 4.
Mention the scope available in speciality retailing of market segments.
Answer:
The scope available in speciality retailing of market segments are –

• Products related to pregnant women, infants and children are available.
• Today, there is an increasing trend of fashion and over show in India.
• There exist great possibilities in the retailing of saris and traditional attire.
• The trend and extent of the practice of giving-receiving gifts are increasing rapidly in India.
• The possibilities in the retail business of health-promoting products have increased.
• Extensive changes have come in lifestyle-related sectors.

Question 5.
Mention the process for providing employment opportunities in administrative fields in state government-related departments in Rajasthan.
Answer:
Rajasthan Public Service Commission organizes the process for providing employment opportunities in administrative fields in state government-related departments in Rajasthan. This is the recruitment and selection agency of the state government. The government indicates the requirement of necessary administrative officers in its various departments to the Public Service Commission, according to which, Rajasthan Public Service Commission issues advertisement for the recruitment, organizes written competitive tests and interview, selects capable candidates and sends their lists to the state government.
The following posts are there in Rajasthan Public Service Commission –

• Rajasthan Administrative Service.
• Rajasthan Police Service.
• Rajasthan Accounts Service.
• Rajasthan Insurance Service.
• Rajasthan Cooperative Service
• Rajasthan Development Service.
• Rajasthan Sales Tax Service.

Question 6.
“Self-Employment is the basic means of developing the economy of the nation”. Explain.
Answer:
Self-Employment is a powerful medium to develop the economy in the world’s second most populated country, India, having huge manpower. The main problems of a developing country are poverty, unemployment, starvation, low living standard and illiteracy, which can be controlled through the powerful means of self-employment.

The importance of self-employment is –

• Unemployment is reduced.
• The economic development of the country speeds up.
• Better utilization of natural resources is done.
• Economic power is decentralized in the country.
• Large scale industries are provided assistance.
• The path of development of basic facilities is strengthened.
• Infrastructure is developed.
• Managerial ability and capability are enhanced.
• Provides means of income for weaker sections of society.
• Rural areas and villages undergo development.
• Poverty is reduced.
• The dream of a self-reliant society is realized.

Question 7.
Mention the schemes initiated by the government to maintain the environment of Self-Employment.
Answer:
Schemes initiated by the government to maintain the environment of Self Employment are –

1. Rural Youth Training Scheme – The government has started a training program to stop the migration of youth to the cities and to preserve handicrafts. A stipend of 3000 is given in the duration of the vocational training for food and lodging and a “tool kit” is provided after training so that they can do their own business.
2. IRDP (Integrated Rural Development Program) – In March 1976, in order to raise the standard of rural families living under the poverty line, provision was made under this to provide training and financial assistance. This is the country’s most extensively operated scheme.
3. Mahatma Gandhi Employment Scheme – This is a scheme to provide employment to at least one member of every rural family. It was initiated in 1989.
4. Desert Development Planning – To increase the fertility of the land, this scheme was started.

Question 8.
What is Prime Minister Employment Scheme?
Answer:
This scheme was initiated for motivating the educated unemployed to establish and operate an industry or business by providing them with financial guidance. This scheme was launched in all districts of the country has a population of less than 10 lakh. It was implemented in every district by the “District Industrial Centre”, and banks that provide the necessary loans.
The main features of this scheme are –

• The person should be minimum a matriculate.
• Candidates are selected and trained after being chosen by a committee at the district industrial centre.
• Banks are sent a recommendation for loans.
• Loan up to 1 lakh for industry and * 75000 for business is sanctioned.
• The loans can be repaid within 3 to 7 years.
• Loan instalments are to be paid starting after 18 months.

RBSE Class 11 Business Studies Chapter 10 Essay Type Questions

Question 1.
What all employment opportunities are there for the students of commerce in various sectors?
Answer:
Commerce is associated with society and its every activity. Thus, when society moves ahead in any direction of progress, commerce moves along with it. Whether progress is made in agricultural, industrial or service sectors under the economic sector of the society, the use of commerce is unavoidable in each one.

Concerns about quality, specialization and price control have increased in society. The concept of social obligation and transparency is gaining ground. All these things enhance professional knowledge and efficiency, due to which the demand for professional and skilled people in commerce having training like CA, CS. MBA, MBC, ICWA is continuously increasing.

1. Employment Opportunities in Service Sector:
Personnel is mainly recruited in the post of clerk-cum-cashier, and probationary officer in the management cadre. About 7.5 lac bank employees will be recruited by the year 2020, since, from the banking employee staff at present. 30 – 40 per cent will be retiring every year from 2015 and the banking business is also expanding continuously. In addition, employment opportunities are being made available for the post of computer network in-charge, marketing officer, vehicle loan officer, personnel training officer, home loan sales officer and credit card sales representative.

2. Employment Opportunities in the Administrative Sector:
Skilled persons are appointed to high-level positions in various undertakings of the public and private sector and in government departments for managerial and administrative control. They are appointed gazetted officers in the government sector and as executive officers in the private sector. Tax revenue, statistics, digitization, finance-related departments give priority to commerce graduates and professionals.

3. Employment Opportunities in Technical Sector:
Employment opportunities have been created in the fields of account and auditing as a programmer, information manager or in E-commerce for persons having knowledge of commerce and computer languages.

4. Employment Opportunities in Self-employment:
Self-employment is a situation in which an individual work for himself instead of working for an employer that pays him/her a salary or a wage. A self-employed individual earns his income by conducting profitable operations from a trade or business that he operates directly. Various schemes have been made for the development of self-employment for both rural and urban areas.

Question 2.
Explain the Employment Opportunities in Capital Market.
Answer:
The trading of shares, credit notes, bonds and debentures is done in the capital market. Capital market is the blood of the economy of a country where trading worth billions of rupees is done every day. Both direct and indirect trading is done. Direct Business is the one, in which, the traders themselves apply to the public holding and sale/purchase shares and debentures in the stock market. This involves a higher risk of profit or loss. While, the indirect business includes mutual funds, where the trader himself does not do the trading, instead fund companies buy and sell in large volumes in the form of their representatives, so that the risk is minimized for traders and returns are assured.
1. Stock Market:

• The place where the listed shares and credit notes of companies are bought and sold is called a Stock Market.
• The functions of clearance and transfer of company shares, credit notes, distribution of clearance, bonus shares clearance, etc. are performed by the stock market.
• Deals are made online in the stock market.
• Only the member brokers of the stock exchange are authorized to execute selling buying transactions.

2. Mutual Fund:

• It means doing business in the capital market by using large fund collected from small investments of investors and distributing the earned profit among them.
• A Mutual Fund invests the fund according to its discretion and tact and buys and sells debentures to earn a profit. Expenses are deducted from profits and the net profit is distributed among all the members of the fund.

Question 3.
What is entrepreneurship? Explain its various types.
or
Explain the various types of entrepreneurship.
Answer:
Entrepreneurship:
Entrepreneurship is the art of self-managing a business, setting up new enterprises that equally contains risk. Prof. Uday Pareek and Manohar Nadkarni have explained this in simple terms and said that. “Entrepreneurship means the general tendency in the society to set up new enterprises”.

Types of Entrepreneurship are:
(1) On the basis of size:

1. Large-Scale Industry – A type of business that requires capital in a large amount, big machines are used, also labour is used in an equally large amount, the people employed for the tasks are highly skilled and qualified.
2. Small-Scale Industry – A type of business that requires capital in small amount and people of a single-family along some with the help of some hired workers ensure production according to the requirements of local markets or regional markets.

(2) Based on Capital Ownership:

1. Private Entrepreneurship – The type of business in which the risks are borne by a single person, and the capital invested are also borne by a single person only.
2. Joint-Venture Entrepreneurship – the type of entrepreneurship, in which the government and a privately-owner enterprise jointly collect the limited capital is known as joint venture entrepreneurship. The government tries to bring growth and development through this.
3. Co-operative Entrepreneurship – Such an enterprise in which the business is operated and formed with the objective of co-operativeness is called co-operative entrepreneurship. The most prominent example of co-operative entrepreneurship is the cooperative of ‘Lijjat papad’ set up by women entrepreneurs.

(3) On the Basis of Leadership:

1. Individual Entrepreneurship – The Entrepreneurship in which the single individual takes the entire decision is called Individual Entrepreneurship.
2. Group Entrepreneurship – A type of Entrepreneurship, in which, more than one persons manage and operate the business and take decisions. In this organization, founders and managers are specialists.

RBSE Solutions for Class 11 Business Studies