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How to prepare Class 11 Business Studies?

Author : Palak Khanna

Updated On : December 1, 2020


Class 11 Business Studies preparation involves learning theoretical concepts as well as practicing Case study questions (Numerical Questions). Practicing flow charts, diagrams, and graphs play a vital role in preparation. Solving a minimum of ten questions after completing each concept helps in maximizing the scores. Start practicing Important questions for Business Studies at least two months before the final examinations.

How to prepare for Class 11 Business Studies?

Students who are preparing for their final exam should consider the following points as tips for Class 11 Business Studies preparation:

  • Strictly follow the revised Class 11 Business Studies Syllabus to prepare for the exam as it will save time and energy that will help in focusing solely on the topics that are important for the exam.
  • Read NCERT books to get concept knowledge.
  • Practice charts, diagrams, tables, illustrations repeatedly to get a better hold over them.
  • After studying a concept thoroughly practice minimum of ten questions based on them to get deep and detailed knowledge of the concept.
  • Prepare a separate notebook to write important terms, definitions, short descriptions of the concept.
  • Use question banks and reference books like “All in One”, “Oswal’s Question Bank” etc. to practice dozens of questions for each and every concept to maximize the scores in the final exam.

Class 11 Business Studies Books

Books are the most important tool to prepare for the Class 11 Business Studies exam. Candidates can go through the below table to know Class 11 Commerce Books List for Business Studies subject that are recommended for CBSE and ICSE board:

S.No. Books for CBSE students Price Books for ICSE students Price
1. NCERT’s Business Studies Textbook for Class - 11 Rs.160 New I.S.C. Accountancy Class- XI by Arya Publications Rs.775
2. Business Studies (RK Singla)- Class 11 - CBSE (2020-21) Rs.450 S. Chand's ISC Commerce for Class XI Rs.630
3. All in One Business Studies Class 11 for 2021 Exam by Arihant publications Rs.249 Oswal’s ISC Question Banks Class 11 Business studies (Reduced Syllabus) (For 2021 Exam) Rs.199
4. Class 11 Business Studies With Case Studies by Sandeep Garg Rs.189 For Class XI ISC Business Studies Part 1 by C.B. Gupta Rs.195
5. Business Studies (Poonam Gandhi) - Class 11 - CBSE Rs.450 ISC Business Studies For Class-11 By C.B Gupta For (2020-2021) Examination Rs.500

Chapter-Wise Important Questions

After evaluating the weightage of each topic experts have recommended these questions from each chapter that have a higher probability of occurrence in final exams.

Chapter 1: Nature And Purpose of Business

Important Question from this chapter are:

  1. Difference between business, profession, and employment.
  2. What are the basic factors while starting a business?

Chapter 2: Forms of Business Organisation

Important Question from this chapter are:

  1. What do you understand about sole proprietorship firms? Explain its merits and limitations?
  2. What are the types of cooperative societies?
  3. Factors affecting the choice of the form of business organization.
  4. Distinguish between a joint Hindu Family business and partnership.

Chapter 3:Private, Public and Global Enterprises

Important Question from this chapter are:

  1. Describe the industrial policies 1991, towards the public sector.
  2. List the name of some enterprises under the public sector and classify them.

Chapter 4:Business Services

Important Question from this chapter are:

  1. What are the fundamental principles of Insurance?
  2. Describe various types of insurance and examine the nature of risks protected by each type of insurance.
  3. What are the functions of commercial banks?

Chapter 5:Emerging modes of Business 

Important Question from this chapter are:

  1. What is the process of Online Trading?
  2. What are the risks involved in e-Business?
  3. Elaborate Cons of e-Business
  4. What is the need of Out-Sourcing?

Chapter 6:Social Responsibilities of Business and Business Ethics

Important Question from this chapter are:

  1. What are the main causes of Environmental Pollution?
  2. State arguments for and against Social Responsibilities.
  3. What are the elements of business risks?

Chapter 7:Formation of Company

Important Question from this chapter are:

  1. Distinguish between ‘Preliminary Contracts’ and ‘Provisional Contracts’.
  2. What are the basic functions of a promoter?
  3. Give differences between ‘Memorandum of Association’ and ‘Articles of Association’.

Chapter 8: Sources of Business Finance

Important Question from this chapter are:

  1. What is business finance. Why does business need finance? Explain.
  2. What is the difference between GDR and ADR?
  3. List sources of raising long-term and short-term finance.

Chapter 9: Small Business

Important Question from this chapter are:

  1. What measures has the government taken to solve the problem of finance and marketing in the small scale sector?
  2. What are the incentives provided by the government for industries in backward and hilly areas?

Chapter 10: Internal Trades

Important Question from this chapter are:

  1. Discuss the features of a departmental store. How do they differ from multiple shops or chain stores?
  2. Distinguish between single line stores and specialty stores.Can you identify such stores in your locality?
  3. What are services offered by retailers to wholesalers and consumers?

Chapter 11:International Business Part - I

Important Question from this chapter are:

  1. Enumerate limitations of Contract Manufacturing.
  2. Differentiate between international trade and international business.
  3. What is international business? How is it different from domestic business?
  4. What is invisible trade? Discuss the salient features of India’s trade in services.

Chapter 12:International Business Part - II

Important Question from this chapter are:

  1. What is a Letter of Credit? Why does an exporter need this document?
  2. What is the IMF? Discuss its various objectives and functions.
  3. Write a detailed note on features, structures, objectives and functioning of WTO.

Short Tricks and Tips to Solve Case Studies

Case Studies are nothing but the practical questions based on theory part of Business Studies.

Most of the students feel comfortable with the theory part but lack analytical reasoning while solving the case studies. Students are advised to follow these tips and tricks to practice and solve Case studies efficiently:

  • After completing each chapter, solve case study questions based on the chapter. And after completing the entire course, solve the maximum number of case study questions from sample papers and previous year papers.
  • Don’t go for sample papers and previous year papers before completing the entire course.
  • Work on Better handwriting and presentation skills to clearly describe answers to the case study questions.
  • From a topper's point of view, It is better to stop practicing case study questions at least a week before the exam. As something new or unpredicted at that point in time may unnecessarily decrease the confidence of the student.
  • Read the Case study problem very carefully first before concluding with the answers.
  • Always write answers with reasoning.
  • Some Case Studies are likely to have multiple answers. In such a case, write the most favorable answer with reasons. And put a note (in brackets ) and write the other answer which is also an expected answer to the question with the reason why this answer might also be the written answer.
  • Every year, one or two general case study questions are also asked. Keep in mind that these questions are not topic bound. So, provide general answers to this type of question.

Frequently Asked Questions

The key elements that are basis of class 11 Business Studies preparation are as follows:

  •  Economic activity, 
  • production or procurement of goods and services, 
  • sale or exchange of goods and services for the satisfaction of human needs, 
  • dealings in goods and services on a regular basis,
  • profit earning, 
  • uncertainty of return.

The top preferred book is NCERT’s Business Studies Textbook for Class 11. Best reference books to study Class 11 business studies are:

  • Business Studies (Poonam Gandhi)- Class XI, by VK Global Publications Private Limited
  • Business Studies with Case Studies for Class 11, Author- Sandeep Garg, by Dhanpat Rai Publications.
  • Business Studies Class-11, Author- Meena Verma , by Dhanpat Rai Publications.

Scoring high involves efforts into strategic study planning from the very beginning of the session. Revision with previous year papers and mock tests. A few tips that help in scoring full marks in final exams are:

  • Utilize the first 15 minutes (reading time) in carefully reading the question paper and judging between the choices.
  • Write those answers first that you are more confident about.
  • Highlight the main points by underlining or by surrounding the important part by creating a box around it.
  • Try to avoid answering in paragraphs. Try to write the answer in points or in comparison questions use T-method. It not only saves a lot of time during exams but also makes answers presentable and in understandable format which inturn helps to attain maximum marks.
  • Make sure to attempt all the questions even if you are uncertain about any answer, try to attempt it anyway towards the end of the exam because the plus point in school exams is that there is no negative marking and in case if you could guess it right it could fetch you some extra marks.
  • Make use of diagrams, charts and illustrations while answering for two reasons : 
  1. One because in the answer key, the marking scheme is already fixed which reserves marks of diagrams, charts, tables and illustrations. If you don’t make them you are certain to lose those marks.
  2. By making tables, diagrams and charts it makes answers presentable and in understandable format which inturn helps to attain maximum marks.

Answer the Case Study question in a step-by-step manner don’t rush or jump into the conclusion by guessing. It is important to follow these steps to answer case study questions:

  1. Go through the Case Study and questions very carefully.
  2. Identify the issues presented in the Case Study.
  3. Use the concept knowledge into practice.
  4. Plan the answer and reasoning behind that answer before actually writing it.
  5. Start writing the answer in a very neat and clean handwriting that also looks presentable.
  6. Never forget to proofread the answer carefully before moving to the next question.
Some general case studies that require your perspective or how you will apply your learnings into practice or how that case affects you. In such scenarios, first-person is allowed while answering the case study. If the case study is concept-based and not asking for your general opinion then do not use first-person while answering the case study.

The subject of business Studies is solely based on developing the entrepreneurial skills of a student. It develops a clear vision of different types of business and business ethics already prevailing in the world. The subject introduces the laws related to entrepreneurs and how to start a small business and also how to expand a business to international business.

The subject introduces all the initial aspects to become an entrepreneur at very early stages of life.

The top five highest rated topics of Class 11 Business Studies are listed below:
  1. Social responsibilities of a business.
  2. Private, Public, Global enterprises. 
  3. Sources of Business Finance.
  4. Small Business
  5. Internal Trade.


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