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HOTS Questions | Business Studies (BST) Class 12 - Commerce PDF Download
Read the following text and answer the following questions on the basis of the same:
Simplex limited had been taken over by Mundhra Group immediately following India’s independence. Since then it enjoys a rich record of industry presence and experience. In 2005, with the aim to accelerate growth the company had gone through several rounds of meetings and discussions before launching ERP system to attract large projects. The management had done effective forecast and critical thinking regarding allocation resources to reduce wastage. For this purpose the company had laid down multiple courses of action to meet the challenge of adverse situations. In 2008, the company suffered loss in many projects due to the great recession despite taking many cost cutting measures. The management had taken utmost care regarding the possible outcome and timely review of the plans to achieve the set target during that hard time. In 2010 the system implemented successfully which subsequently helped the company to execute numerous projects with precision and timeliness.
Q1: “In 2005, with the aim to accelerate growth the company had gone through several rounds of Meetings and discussions.” What is the objective mentioned here according to the process stated here?
(a) Developing Premises
(b) Growth & development
(c) Launching IT enabled system
(d) Cost cutting.
Ans: (b)
Q2: “In 2008, the company suffered loss in many projects due to the great recession despite taking many cost cutting measures.” Which limitation of the management process is indicated here?
(a) It fails to cope with sudden changes
(b) It involves huge cost
(c) It requires critical thinking
(d) Need to construct multiple action plans
Ans: (a)
Q3: State whether the given statement is True or False:
“The management had done effective forecast and critical thinking regarding allocation of resources to reduce wastage.”
Ans: true
Q4: “The management had taken utmost care regarding the possible outcome and timely review of the Plans to achieve the set target during that hard time.” Which is the last step of the Process mentioned here?
(a) Implementation of plan
(b) Timely execution of projects
(c) Follow up
(d) To prepare alternative course of action
Ans: (c)
The document HOTS Questions | Business Studies (BST) Class 12 - Commerce is a part of the Commerce Course Business Studies (BST) Class 12.
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FAQs on HOTS Questions - Business Studies (BST) Class 12 - Commerce
| 1. What is commerce and why is it important in today's society? |  |
Ans. Commerce refers to the activities involved in the buying and selling of goods and services. It plays a crucial role in today's society by facilitating economic growth, creating employment opportunities, and promoting trade between individuals, businesses, and countries. Additionally, commerce helps in the distribution of goods and services to meet the demands of consumers, contributing to the overall development of the economy.
| 2. What are the different types of commerce? | |
Ans. There are several types of commerce, including:
- E-commerce: This refers to buying and selling goods and services online, utilizing internet platforms.
- International trade: Involves the exchange of goods and services between different countries.
- Retail commerce: Focuses on the sale of goods directly to the end consumers through physical or online stores.
- Wholesale commerce: Involves the purchase of goods in bulk from manufacturers or producers and selling them to retailers or businesses.
- Financial commerce: Deals with the exchange of financial instruments, such as stocks, bonds, and currencies.
| 3. How does commerce contribute to economic growth? | |
Ans. Commerce plays a vital role in economic growth by stimulating various aspects of the economy. It creates employment opportunities, both directly and indirectly, through the establishment and operation of businesses. Commerce also fosters innovation and entrepreneurship, driving technological advancements and productivity enhancements. Additionally, it promotes investment, trade, and market competition, which in turn leads to increased production, higher consumer spending, and overall economic development.
| 4. What are the key factors influencing commerce? | |
Ans. Several factors influence commerce, including:
- Consumer behavior: The preferences, needs, and purchasing power of consumers greatly impact the demand for goods and services.
- Technological advancements: Innovations in technology, particularly in the digital realm, have revolutionized commerce, enabling easier transactions, efficient supply chains, and new business models.
- Government policies and regulations: Laws and regulations related to trade, taxation, consumer protection, and business operations significantly influence commerce.
- Globalization: The interconnectedness of the global economy and international trade agreements have opened up new markets and expanded opportunities for commerce.
- Economic conditions: Factors such as inflation, interest rates, and economic stability affect consumer spending patterns and business investments, consequently impacting commerce.
| 5. What are the ethical considerations in commerce? | |
Ans. Ethical considerations in commerce involve making decisions and conducting business activities in a morally responsible manner. Some of the key ethical concerns include:
- Fair trade practices: Ensuring fair competition, avoiding deceptive advertising, and treating customers and suppliers with honesty and respect.
- Environmental responsibility: Minimizing negative environmental impacts, promoting sustainable practices, and being transparent about the environmental footprint of products and services.
- Corporate social responsibility: Engaging in philanthropy, supporting social causes, and contributing positively to the community.
- Data privacy and security: Protecting customer information, respecting privacy rights, and implementing robust cybersecurity measures.
- Ethical sourcing and labor practices: Ensuring fair wages, safe working conditions, and respecting human rights throughout the supply chain.
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Nov 22, 2024 Last updated |
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