Welcome to the NCERT Solutions for Class 11 Business Studies - Chapter Business, Trade and Commerce. This page offers a step-by-step solution to the specific question from Exercise 2, Question 3: . With detailed answers and explanations for each chapter, students can strengthen their understanding and prepare confidently for exams. Ideal for CBSE and other board students, this resource will simplify your study experience.
Compare business with profession and employment.
Business: It implies business or the state of being buys. Business means an enterprise engaged in the production and distribution of goods for sale in the market or rendering of services for a price.
Profession: Profession is an occupation involving the provision of personal services of a specialized and expert nature.
Employment: It involves working under contract of employment for or under someone known as the employer in return for wages or salary.
| Basis | Business | Profession | Employment |
|---|---|---|---|
| Mode of Establishment | Promotes take decision, registration and other formalities as prescribed by law. | Membership of a professional body or certificate. | Service contact or letter of appointment. |
| Nature of Work | Goods and services provided to the public. | Personalized. | Performing work assigned by employer. |
| Qualification | No minimum qualification is essential. | Specialized knowledge. | As per service requirement. |
| Basic Motive | Earning profits by satisfying needs of society. | Rendering services. | Earning salary or wage by serving the employer. |
| Capital | Capital investment required as per size of the firm. | United capital required. | No capital required. |
| Reward | Profits. | Professional fee. | Salary or wages. |
| Risk | Profits are uncertain and irregular. | Fees are regular and were negative. | No risk. |
| Transfer of Interest | Transfer of interest is possible with some formalities. | Not possible. | Not transferable. |
NCERT questions are designed to test your understanding of the concepts and theories discussed in the chapter. Here are some tips to help you answer NCERT questions effectively:
Stay updated with our latest educational content and study tips
One of the challenging things students face nowadays is procrastination. It hinders productivity, making it difficult for students to score well. We often associate procrastination as just being lazy. But there’s more to it. Various studies have shown that procrastination stems from negative feelings such as stress and anxiety. Oftentimes, when we start, we think […]
Read MoreThe CBSE Board Exam is a crucial milestone for millions of students across India. The Central Board of Secondary Education is famous for its imparting quality education and knowledge which reaches out to a large share of students. Also, it is important to know that, the CBSE board takes a slight unconventional route, since it […]
Read MoreHaryana government issued a notification on 31st December 2024 through its Gazette notification No. 42/119/2019-5HR-II for CET Haryana 2024. The Common Eligibility Test (CET) for Haryana is a significant opportunity for candidates seeking government jobs in Group C and Group D posts. Below is a comprehensive summary of the key information you need to know […]
Read MoreSacrificing your sleep to study more is doing more damage than you think. While it may seem like utilizing every hour of the day for study leads to better outcomes, the reality is quite the opposite. Lack of proper rest can negatively impact your brain, especially when it comes to sleep and memory retention. You’ll […]
Read MoreWelcome to the NCERT Solutions for Class 11 Business Studies - Chapter . This page offers a step-by-step solution to the specific question from Excercise 2 , Question 3: Compare business with profession and employment.....
Add Comment