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Nature and Purpose of Business Video Lecture | Business Studies (BST) Class 11 - Commerce
FAQs on Nature and Purpose of Business Video Lecture - Business Studies (BST) Class 11 - Commerce
| 1. What is the nature of business commerce? |  |
Ans. The nature of business commerce encompasses the activities involved in the exchange of goods and services between individuals or organizations. It includes various processes such as buying, selling, and distribution, and is characterized by the objective of generating profit. Business commerce can be divided into different categories, including retail, wholesale, e-commerce, and international trade, each serving unique functions in the economy.
| 2. What are the main purposes of business commerce? | |
Ans. The primary purposes of business commerce include facilitating trade, generating profits, providing goods and services to consumers, and creating employment opportunities. Additionally, business commerce plays a vital role in economic development by contributing to the national income, fostering innovation, and enhancing competition within markets. Ultimately, it aims to meet the needs and wants of society while ensuring sustainability.
| 3. How has business commerce evolved over time? | |
Ans. Business commerce has evolved significantly from ancient bartering systems to complex global supply chains. Historically, trade began with the exchange of goods among local communities. With advancements in technology, such as the invention of the wheel and the printing press, commerce expanded. The Industrial Revolution marked a pivotal shift, leading to mass production and the rise of corporations. In the modern era, the internet has further transformed business commerce, leading to the growth of e-commerce and digital transactions.
| 4. What role does technology play in business commerce? | |
Ans. Technology plays a crucial role in business commerce by streamlining operations, enhancing communication, and improving customer experiences. Innovations such as online payment systems, inventory management software, and digital marketing strategies have revolutionized how businesses operate. Furthermore, technology enables businesses to reach a broader audience through e-commerce platforms, allowing for 24/7 sales and access to global markets, which significantly boosts competitiveness.
| 5. What are the challenges faced in business commerce today? | |
Ans. Businesses today face several challenges in commerce, including increased competition, changing consumer preferences, and regulatory compliance. Additionally, economic fluctuations and global disruptions, such as pandemics or trade wars, can impact supply chains and consumer behavior. Adapting to rapid technological advancements and safeguarding data privacy are also critical challenges that businesses must navigate to thrive in the dynamic commerce landscape.
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Oct 23, 2025
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