Business, Trade and Commerce
In the NCERT Business Studies textbook for Class 11, Chapter 1 Business, Trade and Commerce, you build the foundation of business studies. The chapter explains the concept and characteristics of business, the distinction between business, profession and employment, and the classification of business activities into industry and commerce. You study how trade and its auxiliaries link producers and consumers, the objectives of business including profit and social responsibility, and why business risks of uncertain returns must be managed.
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