Discuss the significance of profit in bu | Class 11 Business Studies Chapter Business, Trade and Commerce, Business, Trade and Commerce NCERT Solutions

Question:

Discuss the significance of profit in business.

Answer:

Profit is essential for:

Survival and Growth: Ensures continuity and expansion.
Reward for Risk: Encourages entrepreneurs to take risks.
Innovation: Facilitates investment in research and development.
Economic Growth: Contributes to national income and employment.

1
0
0
Report?

Report a problem on Specifications:

Email id:

Comments

Next Question >

Popular questions of class 11 Business Studies

What factors are to be considered while starting a business? Explain.

Discuss the development of indigenous banking system in Indian subcontinent.

What were the different types of Hundi in use by traders in ancient times?

Define Industry. Explain various types of industries giving examples.

Why is business considered as economic activity?

List the major exports and imports in ancient India.

Define business. Describe its important characteristics.

State the different types of economic activities.

Discuss the limitations of electronic mode of doing business. Are these limitations severe enough to restrict its scope? Give reasons for your answer.

Evaluate the need for outsourcing and discuss its limitations.

Recently Viewed Questions of Class 11 Business Studies

What is a Public Sector Enterprise?

Analyze the significance of the 'Prospectus' in the formation of a public company.

Explain the functions of commercial banks with an example of each.

What is business risk? What is its nature?

Discuss the importance of the 'Articles of Association' in a company.

Describe in detail the stages involved in the formation of a public company.

Elaborate on the concept and elements of business ethics.

Elaborate on the contents of the 'Memorandum of Association' and their significance.

Explain the principles of insurance in detail.

Explain the functions of commercial banks.

Study Tips for Answering NCERT Questions:

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:

Read the question carefully and focus on the core concept being asked.
Reference examples and data from the chapter when answering questions about Business, Trade and Commerce.
Review previous year question papers to get an idea of how such questions may be framed in exams.
Practice answering questions within the time limit to improve your speed and accuracy.
Discuss your answers with your teachers or peers to get feedback and improve your understanding.

Comments

Comment(s) on this Question

Welcome to the NCERT Solutions for Class 11 Business Studies - Chapter . This page offers a step-by-step solution to the specific question from Extra Questions, Question 6: Discuss the significance of profit in business.....

Discuss the significance of profit in bu | Class 11 Business Studies Chapter Business, Trade and Commerce, Business, Trade and Commerce NCERT Solutions

< Previous Question

Next Question >

Popular questions of class 11 Business Studies

Recently Viewed Questions of Class 11 Business Studies

Study Tips for Answering NCERT Questions:

Comments

Comment(s) on this Question

Chapters for Class 11 Business Studies

Subjects for Class 11

Students Also Read

Important links

Quick Links

Resources

Support