Business Studies Class XI
Business Studies Class XI
68 Important terms related to Class XI Business Studies terms
- Advertising
- activities which are concerned with informing customers about the product
- American Depository Receipts (ADRs)
- instruments issued in America by non US companies in order to obtain foreign capital
- Auxiliaries to trade
- activities which support/facilitate trade
- B2B Commerce
- transactions between business firms
- B2C Commerce
- transactions between business and customers
- Bank
- institution which accepts deposits and provides loans
- Borrowed Funds
- funds which are raised through loans or borrowings
- Business
- economic activity which involves production/purchase and sale of goods and services to earn profit
- Business Ethics
- moral principles governing what is right and what is wrong in business
- Business Finance
- funds which are used for conduct of business
- Business Risk
- possibility of earning inadequate profits or suffering losses in business
- Business Services
- activities used by enterprises to conduct their business
- C2C Commerce
- transactions between two or more customers
- Chain Stores
- networks of retail shops, which are owned by the single business enterprise,
also known as multiple shops
- Commerce
- includes activities which are necessary for sale or exchange of goods and services
- Company
- artificial person having a separate legal entity, perpetual succession and a common seal
- Cooperative Society
- voluntary association of persons who join together with the motive of welfare of the members
- Debenture
- acknowledgement of a debt by a company
- Departmental Stores
- large establishment which sells a wide variety of products and aim to satisfy all needs of the customers under one roof
- Departmental Undertaking
- public sector enterprises which are formed and operated as a part of the department of the ministry
- Economic Activity
- activity performed to earn money
- Electronic Banking
- conduct of banking transactions over the internet using computer and other electronic devices,
commonly referred to as e-business
- Electronic Business
- conduct of business activities over internet or any other computer network,
commonly referred to as e-business
- Employment
- economic activity which involves working for others in return of salary or wages
- Entrepreneur
- a person who sets up a business
- Entrepreneurship
- process of setting up a business
- Global Depository Receipts (GDRs)
- instrument issued abroad by a company to raise funds in some foreign currency
- Global Enterprise
- a company which has business operations in more than one country, also called MNC (Multinational Corporations)
- Government Company
- any company in which atleast 51 percent of the paid up capital is held by the central government or by any state government or partly by central government and partly by one or more state governments
- Indian Depository Receipts (IDRs)
- instrument issued in India to enable foreign company to raise funds from Indian market.
- Industry
- economic activity which is concerned with conversion of resources into products
- Innovation
- creating something new
- Insurance
- activity concerned with providing protection against various risks
- Inter Corporate Deposits
- short term deposits made by one company with another
- Internal Trade
- buying and selling of goods within the geographical boundaries of a country
- International Business
- business activities which take place beyond geographical boundaries of a country
- Intra B Commerce
- interaction among various departments and persons within the firm
- Itinerant Retailers
- retailers who keep on moving from place to place to sell their products
- Joint Hindu Family Business
- form of business organisation in which the business is owned and carried on by the members of a hindu undivided family
- Joint Venture
- when two or more business firms join together for mutual benefit
- Karta
- eldest member of a hindu undivided family
- Liability
- obligation to pay or give back
- Market Standing
- position of an enterprise in relation to its competitors
- Multinational Corporation (MNCs)
- a company which has business operations in more than one country, also known as global enterprise
- Outsourcing
- getting the work done by an outside agency
- Owners' Funds
- funds provided by owners of the business
- Partnership
- agreement between two or more persons to run a business and share its profits and losses
- Partnership Deed
- written agreement which contains the terms and conditions that govern the partnership
- Primary Industry
- industry which is connected with extraction of natural resources and reproduction of living organisms
- Productivity
- measure of efficiency, it is calculated by comparing value of outputs with the value of inputs
- Profession
- economic activity which involves application of specialised knowledge and skills to serve the society
- Proprietor
- owner of the business, person who owns and manages a business, person who has invested money in a business
- Public Deposits
- deposits raised by organisations directly from the public
- Public Private Partnership
- arrangement between public and private sector for provision of public services
- Retail Trade
- buying of goods and services in relatively small quantities from wholesalers and selling them to the ultimate consumers
- Retained Earnings
- a part of profits retained in the business for future use
- Secondary Industry
- industry that takes raw materials as input and creates finished products as output
- Share
- smallest unit of the capital of a company
- Share Capital
- capital obtained by issue of shares
- Social Responsibility
- duty or obligation of business towards various sections of society
- Sole Proprietor
- a person who owns and manages a business alone
- Statutory Corporation
- public sector enterprise which is set up by a special act of parliament
- Tertiary Industry
- industry which is concerned with providing support services to primary and secondary industries
- Trade
- buying and selling of goods and services to earn profit
- Trade Credit
- credit granted by one trader to another for the purchase of goods and services
- Transportation
- movement of goods from place of of production to place of consumption
- Warehousing
- activity which is concerned with storage of goods
- Wholesale Trade
- buying and selling of goods and services in large quantities for the purpose of resale or intermediate use