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  • Fifth Year / 11th Grade
  • Commerce
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Study Guide OCM Chapter 1 | GSEB Class 11 Commerce | 2026/27

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This study guide covers GSEB Class 11 Commerce - Organizational and Commercial Management (OCM) Chapter 1: Nature, Purpose and Scope of Business, organized by question type and marks allocation for a 25-mark test. Topics include characteristics and objectives of business, business risks, trade and commerce, industries classification, profession vs employment, and key concepts like profit, utility, and internal/international trade. Ideal for exam preparation - prioritizes the most important topics, groups questions by difficulty level, and provides a clear roadmap for efficient revision.

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GSEB Class 11 Commerce – OCM

Chapter 1: Nature, Purpose and Scope of Business
Most Important Questions for 25 Marks Test

A. Long Answer Questions (4 Marks)
1. Explain the characteristics of business.

2. Explain the objectives of business.

3. Explain the causes of business risks.

B. Short Answer Questions (2–3 Marks)
4. What is business? Give its definition.

5. Differentiate between economic and non-economic activities.

6. Explain profession and employment.

7. What is trade? Explain its types.

8. What is commerce? Name its auxiliary services.

9. Explain primary, secondary and tertiary industries.

C. Very Short Answer Questions (1 Mark)
10. What is profit?

11. What is risk in business?

12. What is internal trade?

13. What is international trade?

14. What is utility?

15. Give two examples of non-economic activities.

■ Priority Preparation
1. Characteristics of Business

2. Objectives of Business

3. Causes of Business Risks

4. Trade, Commerce and Industry

5. Profession vs Employment

Source: Prepared from the uploaded GSEB Class 11 OCM Chapter 1 notes.

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Subjects

  • gseb class 11
  • ocm
  • commerce
  • business studies
  • chapter 1
  • nature of business
  • trade and commerce
  • business risks
  • exam preparation
  • 25 marks test

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