CBSE Class 11 Business Studies Nature and Purpose of Business VBQs

Value Based Questions (VBQs) for Class 11 Business Studies

Review targeted competency-based resources with the CBSE Class 11 Business Studies Nature and Purpose of Business VBQs. Built according to official CBSE standards for the 2026-27 academic year, these downloadable Class 11 Business Studies VBQs support holistic learning and critical reasoning for Chapter 01 Business Trade and Commerce.

Practice Class 11 Business Studies VBQs: Chapter 01 Business Trade and Commerce

View or download the dedicated CBSE Class 11 Business Studies Nature and Purpose of Business VBQs resource below. Engaging with these value-based scenarios ensures continuous academic progress and mastery of the 2026-27 exam format.

Very Short Answer Type Questions



Question : Which type of risks means chance of loss without any possibility of gain?
Answer : Pure risks.
 
Question : Why do we insure goods?
Answer : We insure goods in order to minimise the risk of loss. Goods may be damaged or destroyed by fire, theft and natural calamities in the process of transport and storage. Insurance protects against such loss.
 
Question : Mining of iron ore is an example of which industry?
Answer : Primary industry.
 
Question : Is dairying a genetic or an extractive industry?
Answer : Genetic industry.
 
Question : Mention two types of secondary industries.
Answer : (a) Manufacturing industries. (b) Construction industries.
 
Question : Give two examples of tertiary industries.
Answer : (a) Banking. (b) Transportation.
 
Question : Name the business activity which is concerned with conversion of resources into useful products.
Answer : Industry. 
 
 

Short Answer Type Questions 


Question : If a person sells his domestic computer at a profit, will it be considered a business? Also explain the characteristic of business which is being highlighted above. 
Answer : No.
Characteristic of Business —
Dealing in goods and services on a regular basis/regular dealing. 
 
Question : Tea is mainly produced in Assam, while cotton in Gujarat and Maharashtra but they are required for consumption in different parts of the country. How can this hindrance of place be removed?
Also under what business activity will it be categorised. State. 
Answer : Through ‘Transport’ this hindrance of place can be removed. (Auxiliaries/Aids to Trade)
It will be categorised under ‘Employment’. 
 
 
Question : Deepak Wadhwa and Sons have been carrying on the business of diamond cutting since the last three generations in Bhuj, Gujarat. Since Bhuj is prone to earthquakes, the firm has decided to insure their business premises and inventory with Star Insurance Company.
Which kind of risks the company is trying to minimise? 
Answer : Natural causes.
 
Question : Ram, Mohan and Sohan are good friends. Ram is working as a doctor in a private hospital and getting salary ` 1,50,000 per month. Mohan is a farmer and producing 50 quintals wheat for his own consumptions. Sohan is working as a teacher in a school and getting salary ‘ 40,000 per
month. In addition to that Sohan teaches some slum area children in the evening and does not charge anything from them. It gives him a psychological and mental satisfaction. 
(a) Which type of human activity is performed by Ram.
(b) Which type of human activity is performed by Mohan?
(c) Quoted from the lines from the above paragraph which types of human activities are performed by Sohan.
Answer : (a) Economic activity.
(b) Non-economic activity.
(c) Sohan is a teacher in a school and getting salary-Economic activity.
Sohan teaches some students of slum area and does not charge from them as it gives him psychological and mental satisfactions-Non-economic activity. 
 
 

Long Answer Type Questions

1. Discuss the development of indigenous banking system in Indian subcontinent.
2. Define business. Describe its important characteristics.
3. Compare business with profession and employment.
4. Define Industry. Explain various types of industries giving examples.
5. Describe the activities relating to commerce.
6. Explain any five objectives of business.
7. Explain the concept of business risk and its causes.
8. What factors are to be considered while starting a business? Explain.

Free study material for Business Studies

Value-Based Questions (VBQs) for Class 11 Business Studies Chapter 01 Business Trade and Commerce

About Chapter 01 Business Trade and Commerce Value-Based Questions

Access targeted moral and value-driven questions for Class 11 Business Studies Chapter 01 Business Trade and Commerce. Designed to align with official CBSE guidelines, these problem sets test deep comprehension beyond standard textbook answers.

How to Use These Value-Based Questions

Pair your practice with our comprehensive NCERT solutions for Class 11 Business Studies to review detailed responses and master the underlying themes of this chapter.

Real-Life Applications in Business Studies

Wrap up your preparation by testing your critical thinking against standard Business Studies question formats. All resources on our platform are free to access.

FAQs

Where can I find 2026-27 CBSE Value Based Questions (VBQs) for Class 11 Business Studies Chapter 01 Business Trade and Commerce?

The latest collection of Value Based Questions for Class 11 Business Studies Chapter 01 Business Trade and Commerce is available for free on StudiesToday.com. These questions are as per 2026 academic session to help students develop analytical and ethical reasoning skills.

Are answers provided for Class 11 Business Studies Chapter 01 Business Trade and Commerce VBQs?

Yes, all our Business Studies VBQs for Chapter 01 Business Trade and Commerce come with detailed model answers which help students to integrate factual knowledge with value-based insights to get high marks.

What is the importance of solving VBQs for Class 11 Chapter 01 Business Trade and Commerce Business Studies?

VBQs are important as they test student's ability to relate Business Studies concepts to real-life situations. For Chapter 01 Business Trade and Commerce these questions are as per the latest competency-based education goals.

How many marks are usually allocated to VBQs in the CBSE Business Studies paper?

In the current CBSE pattern for Class 11 Business Studies, Chapter 01 Business Trade and Commerce Value Based or Case-Based questions typically carry 3 to 5 marks.

Can I download Business Studies Chapter 01 Business Trade and Commerce VBQs in PDF for free?

Yes, you can download Class 11 Business Studies Chapter 01 Business Trade and Commerce VBQs in a mobile-friendly PDF format for free.