Revision Notes For Class 11 Business Studies Chapter 1 Business Trade And Commerce

Business, trade and commerce is a chapter that briefly explains the meaning of these terms. Topics to be revised are – Economic activities, types of economic activities, non -economic activities, concept of business, characteristics of business activities, sale or exchange of goods and services, profit earning, comparison of business, profession and employment, classification of business activities – Industry, primary industry, secondary industry, meaning of trade, types of trade – Internal trade and External trade, aids or auxiliaries to trade, objectives of business, business risk, nature of business risk, causes of business risk.

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