Commerce Exam > Commerce Videos > Business Studies (BST) Class 11 > Business and Profession
Business and Profession Video Lecture | Business Studies (BST) Class 11 - Commerce
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FAQs on Business and Profession Video Lecture - Business Studies (BST) Class 11 - Commerce
| 1. What is commerce and how is it related to business and profession? |  |
Ans. Commerce refers to any activity that involves buying or selling of goods and services. It involves the exchange of goods and services between producers and consumers. Business and profession are two forms of commerce. Business refers to the production or sale of goods and services for profit, while profession refers to the provision of specialized services to clients for a fee.
| 2. What are the different types of commerce? | |
Ans. There are three main types of commerce: trade, auxiliaries to trade, and aids to trade. Trade involves buying and selling of goods and services. Auxiliaries to trade include services that facilitate the exchange of goods and services, like transportation, storage, banking, insurance, and communication. Aids to trade refer to services that promote the sale and purchase of goods and services, like advertising, market research, and packaging.
| 3. What are the advantages of commerce? | |
Ans. Commerce has several advantages. It promotes economic growth and development by creating jobs and generating income. It also helps in the distribution of goods and services across different regions, leading to increased availability and accessibility of goods and services. It promotes competition, which leads to improved quality and lower prices of goods and services. Additionally, commerce provides opportunities for innovation and technological advancement.
| 4. How has e-commerce changed the way we do business? | |
Ans. E-commerce has revolutionized the way we do business. It has provided a platform for buying and selling of goods and services over the internet, making it easier and more convenient for consumers to access products from anywhere in the world. E-commerce has also reduced the cost of doing business by eliminating the need for physical stores and reducing the cost of advertising and marketing. It has also created new opportunities for entrepreneurs and small businesses to reach a wider audience.
| 5. What are some challenges faced by businesses in commerce? | |
Ans. Businesses in commerce face various challenges, including competition, changing consumer preferences, technological advancements, and government regulations. Competition can lead to lower prices and reduced profits, while changing consumer preferences can make it difficult to predict demand for goods and services. Technological advancements can render existing business models obsolete, while government regulations can increase the cost of doing business and reduce profits. Businesses need to be adaptable and innovative to overcome these challenges.
About this Video
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Nov 22, 2024 Last updated |
Video Description: Business and Profession for Commerce 2024 is part of Business Studies (BST) Class 11 preparation.
The notes and questions for Business and Profession have been prepared according to the Commerce exam syllabus.
Information about Business and Profession covers all important topics for Commerce 2024 Exam.
Find important definitions, questions, notes, meanings, examples, exercises and tests below for Business and Profession.
Introduction of Business and Profession in English is available as part of our Business Studies (BST) Class 11 for Commerce & Business and Profession in
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Video Lecture & Questions for Business and Profession Video Lecture | Business Studies (BST) Class 11 - Commerce - Commerce full syllabus preparation | Free video for Commerce exam to prepare for Business Studies (BST) Class 11.
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