{"id":18409,"date":"2021-02-09T16:23:23","date_gmt":"2021-02-09T10:53:23","guid":{"rendered":"https:\/\/ncertsolutions.guru\/?p=18409"},"modified":"2021-03-04T11:59:38","modified_gmt":"2021-03-04T06:29:38","slug":"ncert-solutions-for-class-11-business-studies-chapter-3","status":"publish","type":"post","link":"https:\/\/ncertsolutions.guru\/ncert-solutions-for-class-11-business-studies-chapter-3\/","title":{"rendered":"NCERT Solutions for Class 11 Business Studies Chapter 3 Private, Public and Global Enterprises"},"content":{"rendered":"

Detailed, Step-by-Step NCERT Solutions for 11 Business Studies<\/a> Chapter 3\u00a0Private, Public and Global Enterprises Questions and Answers were solved by Expert Teachers as per NCERT (CBSE) Book guidelines covering each topic in chapter to ensure complete preparation.<\/p>\n

Private, Public and Global Enterprises NCERT Solutions for Class 11 Business Studies Chapter 3<\/h2>\n

Private, Public and Global Enterprises Questions and Answers <\/span>Class 11 Business Studies Chapter 3<\/h3>\n

Tick the appropriate answer:<\/span>
\nQuestion 1.
\nA government company is any company in which the paid-up capital held by the government is not less than
\n(a) 49%
\n(b) 51%
\n(c) 50%
\n(d) 25%
\nAnswer:
\n(a) 49%<\/p>\n

Question 2.
\nCentralised control in MNC\u2019s implies control exercised by
\n(a) Branches
\n(b) Subsidiaries
\n(c) Headquarters
\n(d) Parliament
\nAnswer:
\n(c) Headquarters<\/p>\n

\"NCERT<\/p>\n

Question 3.
\nPSE\u2019s (Public Sector Enterprises) are organizations owned by
\n(a) Joint Hindu Family
\n(b) Government
\n(c) Foreign Company
\n(d) Private Entrepreneurs
\nAnswer:
\n(a) Joint Hindu Family<\/p>\n

Question 4.
\nReconstruction of sick public sector units is taken up by
\n(a) MOFA
\n(b) MOU
\n(c) BIFR
\n(d) NRF
\nAnswer:
\n(c) BIFR<\/p>\n

Question 5.
\nDisinvestment of PSE\u2019s implies
\n(a) Sale of equity shares to
\n(b) Closing down operations private sector\/public sector
\n(c) Investing in new areas
\n(d) Buying shares PSE\u2019s
\nAnswer:
\n(a) Sale of equity shares to<\/p>\n

\"NCERT<\/p>\n

Short Answer Questions<\/span><\/p>\n

Question 1.
\nExplain the concept of the public sector and private sector.
\nAnswer:
\nIndian Economy consists of a mixed economy. A mixed economy refers to an Economic system where both private and government enterprises co-exist. The economy therefore classified into two sectors viz., private sector and public sector, file private sector consists of business enterprises owned by individuals or a group of individuals.<\/p>\n

The various forms of organization are sole proprietorship, partnership, joint Hindu Family. Co-operative and company. The public sector consists of business enterprises owned and managed by the government. These organizations may either be partly or wholly owned by the Central or State Government with an equity stake of at least 51 % with the government.<\/p>\n

They may also be a part of the ministry or might have come into existence by a special Act of the Parliament. The government participates in the economic activities of the country through the public sector. Industrial policy resolutions announced by the government from time – to – time define the area of activities in which the private sector and public sector are allowed to operate.<\/p>\n

\"NCERT<\/p>\n

Question 2.
\nState the various types\/forms of organizations in the private sector.
\nAnswer:
\nForms of Private Sector Enterprises – Following forms covered by Private Sector Enterprises:
\n(1) Sole Proprietorship – He is a person who carries on business exclusively by and for himself. He is the provider of capital and management to the business. He does not share the business profits with anybody. He himself is responsible for all the business activities.<\/p>\n

(2) Joint Hindu Family – The business of a Hindu is inherited by his heirs under the Hindu Law. Such a business is known as Joint Hindu Family Business. The head of the family, known as Karta, manages the affairs of the business. The other male members of the Hindu family are known as coparceners. This business is governed by the provisions of Hindu Law.<\/p>\n

(3) Partnership Firms-Partnership is a relationship between persons who have agreed to share the profits of a business carried on by all or any of them acting for all. An A-partnership firm comes into existence when two or more persons enter into an agreement to carry lawful business and share its profits and losses. The maximum number of members of a partnership shall not exceed twenty.<\/p>\n

(4) Joint Stock Company – It is an artificial person created by law (Companies Act, 1956). It is invisible, and intangible person and exists only in the eyes of law. Being created by law, it possesses only those characteristics which the charter of its creation known as Memorandum of Association confers upon it. It acts according to the Companies Act 1956.<\/p>\n

\"NCERT<\/p>\n

(5) Cooperative Society – It is also a body corporate. It is formed and registered under the Cooperative Societies Act, 1912. It is a voluntary organisation of its members. Its success depends upon the cooperation among its members formed the cooperative society.<\/p>\n

Question 3.
\nWhat are the different kinds of organizations that come under the public sector?
\nAnswer:
\nThe forms of organization which a public enterprise may take are as follows:
\n(i) Departmental Undertaking:
\nThese enterprises are established as departments of the ministry and are considered as part of an extension of the ministry itself. These undertakings may be under the Central or the State Government. Examples: Railways and Post and Telegraph Department.<\/p>\n

(ii) Statutory Corporation:
\nStatutory corporations are public enterprises brought into existence by a Special Act of the Parliament, which defines its powers and functions. It is a financially independent corporate body created by the legislature and has clear control over a specified area or a particular type of commercial activity.<\/p>\n

(iii) Government Company:
\nAccording to the Companies Act, 1956, a government company means any company in which not less than 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. These are established purely for business purposes.<\/p>\n

Question 4.
\nList the names of some enterprises under the public sector and classify them.
\nAnswer:
\nFollowings are the undertaking covered by public enterprises :
\nDepartmental Undertaking – A departmental enterprise is organised, financed, and controlled in as much the same way as any Government department. It may be run either by the Central Government or by a State Government. Examples of such departments are :<\/p>\n