Class 11
Business, Trade and Commerce - Worksheet for Class 11 Business Studies Chapter 1
Sort out business, profession and employment before your next test
This worksheet covers the basics of business, its features, and how it differs from a profession or employment, along with the classification of industry and commerce.
True / False
True or False: Business Basics
Read each statement carefully and write True or False in the space given.
1. Business activities are undertaken with the aim of earning profit.
2. A doctor running a private clinic is an example of business.
3. Risk is uncertain and cannot be completely eliminated in business.
4. Commerce includes only the activities related to production of goods.
5. An employee works under a contract of service and receives a salary.
6. Industry deals with the conversion of raw materials into finished goods.
7. A profession requires membership of a professional body and follows a code of conduct.
Quiz (MCQ)
Multiple Choice Questions
Circle the correct option for each question.
1. Which of these is NOT a feature of business?
2. A person who provides services based on specialised knowledge and skill after formal training belongs to a:
3. Which of the following is an example of a primary industry?
4. Trade is a part of which broader activity?
5. In business, reward for the person who invests capital and bears risk is called:
6. An auxiliary to trade includes activities such as:
Fill in the Blanks
Fill in the Blanks
Choose the correct word from the word bank to complete each sentence.
1.Industries such as agriculture and cattle breeding that involve rearing and reproduction of living organisms are called industries.
2.A industry converts raw materials into finished products through processing.
3.An employee working on daily or hourly basis is usually paid a rather than a fixed monthly salary.
4.A sells goods directly to the final consumer in small quantities.
5.A professional such as a lawyer or chartered accountant charges a for the services rendered.
Matching
Match the Terms
Match each term in Column A with its correct description in Column B.
1. Industry
2. Commerce
3. Employment
4. Insurance
5. Banking
6. Wholesaler
Short Answer
Short Answer Questions
Answer the following in your own words in 30 to 40 words each.
1. Explain any two points of difference between business and profession.
2. Why is risk considered an inherent feature of every business?
3. State any two reasons why a person might prefer employment over starting a business.
These are open-ended - there's no single right answer to check.
Written by Lernizy Editorial Team
Updated 27 Aug 2026