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Grade11 Commerce Short Notes

The document provides an overview of Grade 11 Commerce, covering key concepts such as the definition of commerce, types of trade (home and foreign), aids to trade (transport, banking, insurance), and business organizations (sole proprietorships, partnerships, etc.). It also discusses banking, insurance principles, accounting basics, marketing strategies, consumer education, and current trends like e-commerce and globalization. Overall, it serves as a concise guide to fundamental commerce topics for students.

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37 views2 pages

Grade11 Commerce Short Notes

The document provides an overview of Grade 11 Commerce, covering key concepts such as the definition of commerce, types of trade (home and foreign), aids to trade (transport, banking, insurance), and business organizations (sole proprietorships, partnerships, etc.). It also discusses banking, insurance principles, accounting basics, marketing strategies, consumer education, and current trends like e-commerce and globalization. Overall, it serves as a concise guide to fundamental commerce topics for students.

Uploaded by

yashwinthanm
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Grade 11 Commerce – Short Notes

1. Introduction to Commerce

- Commerce is the study of trade and aids to trade.

- It deals with the exchange of goods and services to satisfy human wants.

- Branches of commerce:

* Trade: Buying & selling goods.

* Aids to Trade: Transport, Banking, Insurance, Warehousing, Communication, Advertising.

2. Trade

- Home Trade: Trade within a country.

* Wholesale trade: Buying in bulk, selling in small lots to retailers.

* Retail trade: Selling goods directly to consumers.

- Foreign Trade: Trade between countries.

* Import: Buying goods from abroad.

* Export: Selling goods to other countries.

* Entrepot: Importing goods and re-exporting them.

3. Aids to Trade

- Transport: Moves goods from producers to consumers (land, water, air).

- Banking: Provides finance, loans, and facilities for trade.

- Insurance: Protects against risks and losses.

- Warehousing: Storage of goods until needed.

- Communication: Helps exchange information in business.

- Advertising: Promotes goods and services.

4. Business Organizations

- Sole Proprietorship: Owned by one person, simple to start.

- Partnership: Owned by 2–20 people, share profits & losses.

- Joint Stock Company: Large business, owned by shareholders, limited liability.

- Co-operative Society: Group of people working together for mutual benefit.

- State Enterprises: Businesses owned and run by the government.

5. Banking

- Commercial Banks: Accept deposits, give loans, provide services (ATM, online banking).

- Central Bank: Issues currency, controls money supply, supervises banks.


6. Insurance

- A contract between insurer and insured.

- Principles of Insurance:

* Utmost good faith

* Insurable interest

* Indemnity

* Contribution

* Subrogation

- Types: Life Insurance, Fire Insurance, Marine Insurance, Health Insurance.

7. Accounting Basics

- Bookkeeping: Recording business transactions.

- Double Entry System: Every transaction has debit & credit.

- Final Accounts:

* Trading Account: Calculates gross profit/loss.

* Profit & Loss Account: Calculates net profit/loss.

* Balance Sheet: Shows financial position (assets & liabilities).

8. Marketing

- Identifying and satisfying customer needs.

- Functions: Buying, Selling, Transporting, Storing, Advertising, Pricing.

- 4 Ps of Marketing: Product, Price, Place, Promotion.

9. Consumer Education

- Consumer rights: Right to safety, information, choice, representation, redress.

- Consumer responsibilities: Use products properly, be aware, keep receipts, avoid waste.

10. Current Trends in Commerce

- E-Commerce: Buying and selling online.

- Mobile Banking: Transactions via mobile phones.

- Globalization: World trade interconnectedness.

- Sustainable Business: Environmentally friendly trade practices.

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