NCERT Class 12 Business Studies Important Questions

Why Focus on Important Questions?

Important questions help you focus on the high-yield topics that will allow you to acquire a better performance on the board exam. These are the questions chosen according to the previous patterns used in the exams, generally tested concepts, and core principles, therefore, setting up a focused and systematic revision process.

Most Important Questions and Answers for Class 12 Business Studies

1. What does marketing do to business?

The role of marketing in business has been important in gaining customers and realizing sales. It entails an analysis of needs and wants of consumers, the development of products and services based on the latter, as well as their effective promotion to the target markets. Businesses, therefore, develop brand awareness, ensure customer loyalty, and finally increase revenue from understanding the principles of marketing.

2. What is SWOT analysis?

These are some of the technique strategy formulations, and SWOT helps the business organization to identify its Strengths, Weaknesses, Opportunities, and Threats. Such SWOT analysis guides an organization in devising strategies aimed at reaping most from its strengths and at reducing its weaknesses as much as possible.

3. How does globalization affect business?

Globalization had its own varieties of effect on the business landscape, with the introduction of newer avenues of trade and investment across borders. Businesses can reach today any customer in the world or source their material and labour from any country across the world. On the other side, globalization brings challenges like increased competition, cultural differences, and regulatory complexities. Any business in a globalized economy would have to be agile enough for the ever-evolving market conditions and will have to keep a constant lookout for newer ways of leveraging the emerging opportunities.

4. What are the kinds of business organizations?

Proprietorship, partnership, and corporation. A sole proprietorship is an organization that belongs to one person only. It’s the simplest kind of business to establish. A partnership is a business which is owned by two or more persons. In relation to this, partners will also usually share the business profits and losses. Lastly, a corporation is a legal entity unto itself. That is to say it is a self-contained unit independent of the individuals owning the same. As such, the corporation will have its rights and liabilities.

5. What do you mean by financial management?

The process of financial management involves such plans, organizations, controls, and monitoring that must be considered with the financial resources of a business organization. It may vary from budgeting confinements to financial analysis or investment decisions which ensure optimum performance of the business financially.

How to Study Business Studies Class 12 for Boards

Here’s a structured approach to studying Business Studies:

• Create a Study Schedule: Divide each chapter into manageable parts and assign specific days to studying them. Take out time during the week to revise the key topics.
• Practice Important Questions: Start emphasizing questions that sum up the crucial essence of each chapter, including past questions from the exam. This way, your revision can become even more effective.
• Use Case Studies: Case studies are plentiful in Business Studies exams. Work through case studies identifying key issues and applying relevant concepts to achieve a solution.
• Read Important Key Terms and Definitions: There are so many technical terms and their definitions in Business Studies. Flashcards can be prepared to make it easy to revise. Make sure that you have understood the meaning of each term in its context.

Important Questions for Class 12 Business Studies

This is an important question bank chapter-wise with detailed answers for all topics, guiding students through each topic. Our questions cover all the crucial topics such as functions of management: understanding the roles of planning, organizing, staffing, directing, and controlling; financial management with major principles of financial management, financial planning, and capital structure; marketing and consumer protection topics like product mix, pricing strategy, consumer rights, and responsibilities. Such questions force the student to think on weightage topics and important principles which help them understand the subject in general.

Benefits of Using Our Important Questions and Answers

• Exam-Focused Content: Questions are chosen keeping in mind board exam requirements thus easy smooth revisions.
• Structured Answers: Answers are structured with headings, bullet points and examples thus easy to read and remember.
• All answers are accompanied with extensive elaboration to ensure that you get exactly what is happening in the concept.