NCERT Solutions for Class 12 Business Studies

PART I FOUNDATIONS OF BUSINESS

Business, Trade and Commerce

The main learning objectives you will learn in this chapter are:

• Appreciate the development of trade and commerce in historical past
• Understand the role of indigenous banking system in trade and commerce
• Explain the concept and objectives of business
• Discuss types of industries
• Explain the activities relating to commerce
• Describe the nature of business risks and their causes
• Discuss the basic factors to be considered while starting a business.

Forms of Business Organisation

The main learning objectives you will learn in this chapter are:

• Identify different forms of business organisation
• Explain features, merits and limitations of different forms of business organisations
• Distinguish between various forms of organisations
• Discuss the factors determining choice of an appropriate form of business organisation.

Private, Public and Global Enterprises

The main learning objectives you will learn in this chapter are:

• Explain the concept and characteristics of business
• Explain the features of different forms of public enterprises viz., departmental, statutory corporations and government companies
• Critically examine the changing role of the public sector
• Explain the features of global enterprises
• Appreciate the benefits of joint ventures.

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Business Services

The main learning objectives you will learn in this chapter are:

• State the characteristics of services
• Distinguish services from goods
• Classify different types of business services
• Explain the concept of e-banking
• Identify and classify different types of insurance policies
• Describe different types of warehouses.

Emerging Modes of Business

The main learning objectives you will learn in this chapter are:

• State the meaning of e-business
• Explain the process of online buying and selling as a part of e-business
• Distinguish e-business from traditional business
• State benefits of switching over to electronic mode
• Explain requirements for a firm’s initiation into e-business
• Identify major security concerns of electronic mode of doing business
• Discuss the need for business process outsourcing
• Appreciate the scope of business process outsourcing.

Social Responsibilities of Business and Business Ethics

The main learning objectives you will learn in this chapter are:

• Explain the concept of social responsibility
• Discuss the need for social responsibility
• Identify the social responsibility towards different interest groups
• Analyse the relationship between business and environmental protection
• Define the concept of business ethics and state the elements of business ethics.

PART II CORPORATE ORGANISATION, FINANCE AND TRADE

Formation of a Company

The main learning objectives you will learn in this chapter are:

• Specify the important stages in the formation of a company
• Describe the steps involved in each stage of company formation
• Specify the documents to be submitted to the registrar of companies
• State the need of certificate of incorporation and certificate to commence business.

Sources of Business Finance

The main learning objectives you will learn in this chapter are:

• State the meaning, nature and importance of business finance
• Classify the various sources of business finance
• Evaluate merits and limitations of various sources of finance
• Identify the international sources of finance
• Examine the factors that affect the choice of an appropriate source of finance.

Small Business and Entrepreneurship

The main learning objectives you will learn in this chapter are:

• Explain the meaning and nature of small business
• Appreciate the role of small business in India
• Analyse the problems of small business
• Classify the different forms of assistance provided by the government to small business, particularly in rural and hilly areas.

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Internal Trade

The main learning objectives you will learn in this chapter are:

• Describe the meaning and types of internal trade
• Specify the services of wholesalers to manufactures and retailers
• Explain the services of retailers
• Classify the types of retailers
• Explain the forms of small scale and large scale retailers
• State the role of Chambers of Commerce and industry in the promotion of internal trade
• Officiate the implementation of GST

International Business

The main learning objectives you will learn in this chapter are:

• State the meaning of International Business
• Distinguish between Internal and International Business
• Discuss the scope of International Business
• Enumerate the benefits of International Business
• Discuss the documents required for import and export transactions
• Identify the incentives and schemes available for international firms
• Discuss the role of different organisations for the promotion of International Business
• List the major international institutions and agreements at the global level for the promotion of international trade and development.