Business Studies for Class 11 Chapter 9 MSME and Business Entrepreneurship

Learn CBSE Business Studies Index Terms for Class 11, Chapter 9 Including Definitions and Meanings

1. Small Scale Industries – Small scale industries are referred to as those industries in which the process of manufacturing, production, and servicing are done on a small scale.

The investment in such industries is one-time, and these investments are mostly done on plants and machinery; the total investment in such industries does not exceed 1 crore.

In small-scale industries, manufacturing goods and rendering services are done with the help of smaller machines and very limited manpower.

2. Cottage Industries – Cottage industries are not defined by the capital investment criteria. They are characterised by various features such as using simple equipment, producing simple products, and being organised by individuals.

3. Tiny Industries – A tiny industry is an industrial or business enterprise whose investment in fixed assets, that is, plants and machinery, does not exceed Rs. 25 lakh. For example, the ideas of a tiny unit include tissues, chocolates, toothpicks, water bottles, small toys, papers, pens, and napkins.

4. Micro Business Industries – A micro business industry is a private venture which sells merchandise or services to a local market or a nearby market. It employs under 10 individuals usually and is topographically limited. Normally a micro-enterprise begins with some type of funding, known as microfinance or microcredit.

5. Khadi and Village Industries – Khadi and Village Industries Commission (KVIC) is a statutory body of the Indian Constitution. It comes under the Ministry of Micro, Small, and Medium Enterprises. It was established by Khadi and Village Industries Act, 1956. It has been amended twice, in 1965 and 2006. It is one of the important constitutional, statutory, and quasi-judicial bodies of India. Village industries fulfil the basic needs of local markets, and all their requirements like raw materials, skilled labour, etc., are met from within the village. They include handloom, pottery making, food processing, pickles, khadi, etc.

6. Entrepreneurship – Entrepreneurship is the ability and readiness to develop, organise and run a business enterprise, along with any of its uncertainties, in order to make a profit. The most prominent example of entrepreneurship is the starting of new businesses.

In economics, entrepreneurship connected with land, labour, natural resources, and capital can generate a profit. The entrepreneurial vision is defined by discovery and risk-taking and is an indispensable part of a nation’s capacity to succeed in an ever-changing and more competitive global marketplace.

7. Export Oriented Units – Export Oriented Units (EOUs) have been characterised under the Foreign Trade Policy (FTP) as those units undertaking to trade and export their whole production of services and products, except allowable sales in the Domestic Tariff Area (DTA), for the production of merchandise, which includes: repair, re-production, reconditioning, re-designing, delivering of services, development of software, horticulture including agro-processing, biotechnology, animal husbandry, aquaculture, pisciculture, viticulture, poultry, and sericulture. Trading units are not covered under the EOUs.

8. Ancillary Unit – An ancillary small industrial unit is the one that supplies not less than 50% of its production to another industry, referred to as the parent unit and has the investment in plant/machinery, which is not more than Rs 5 crore.

9. Intellectual Property Rights – Intellectual property rights mean providing property rights through patents, copyrights and trademarks. Holders of intellectual property rights have a monopoly on the usage of property or items for a specified time period. The term intellectual property began to be used in the 19th century, and only in the 20th century did it become part of the world’s legal systems.

We hope that the offered Business Studies Index Terms for Class 11 with respect to Chapter 9: Internal Trade, will help you.

Related Links:

COMMERCE Related Links
Statement Of Profit And Loss Format Difference Between Trade And Commerce
List Of Current Assets Dimensions Of Business Environment
Types Of Sampling Methods What Is Utility
Interest Coverage Ratio Forfeited Shares
Operating Cash Flow Formula Consumer Equilibrium In Case Of Two Commodity