Revision Notes for CBSE Class 11 Business Studies Chapter 11 - Free PDF Download
Class 11 Business Studies is an important subject for commerce stream. This subject is one of the main components of the curriculum that helps students prepare a strong foundation of knowledge regarding different aspects of business management. International Business is an important chapter, and in this chapter, students will become familiar with the concepts of international business and its benefits. The International Business Class 11 notes prepared by the subject-matter experts at Vedantu will help you understand the topics effectively. These revision notes are designed in such a way that you will find relevance with the format of the chapter.
These revision notes provide an easy explanation of all the concepts covered in Chapter 11 of Class 11 Business Studies. Students can also find NCERT Solutions for Class 11 Business Studies Chapter 11 on Vedantu. They can download the revision notes and can refer to them anywhere and at anytime to prepare the chapter. This will it easier for them to comprehend this chapter and progress with the completion of the syllabus. In fact, students will get immense help when they pursue professional courses on commerce and business management after completing the Higher Secondary level education, when they study the topics covered in the syllabus of Class 11 Business Studies.
FAQs on International Business Class 11 Notes CBSE Business Studies Chapter 11 [Free PDF Download]
1. What do you mean by international business?
As per Class 11 BST Chapter 11 notes, international business is a venture done by a businessman in a country other than his nation. Conducting manufacturing, trading, franchising, etc in a foreign country can be termed as international business.
2. Why should you refer to the revision notes for international business on Vedantu?
By referring to the Class 11 Business Studies Chapter 11 notes, you can learn the topics covered in the chapter easily within a short time. You can also recapitulate the concepts quickly before the exam with the help of these revision notes and score better. You can also access these revision notes online or offline from Vedantu, according to your convenience.
3. What is the reason for international business according to Chapter 11 of Class 11 Business Studies?
Every country varies in terms of the amount of natural resources they carry. Some lack them and some have in abundance. Also, the quantity and quality of factors of production vary from country to country. Due to this, not every country is able to produce goods and services evenly. This is the reason why international trade is done. In international trade, goods and services are exchanged or traded between different countries. It contributes to and increases the world's economic growth rate.
4. What is international trade and its benefits?
International trade is a trade in which goods and services are bought and sold between different countries. International trade is considered to be very beneficial for both businesses and nations. Following are some benefits that international trade offers:
Earning of foreign exchange
Using resources efficiently
Improving growth prospects and employment potentials
Increasing standard of living
Making higher profits
Increases capacity utilisation
Prospects for growth
Way out to intense competition in the domestic market
Improves business vision
5. What are the differences between domestic business and international business?
Following are some important differences that are seen between domestic businesses and international businesses:
Buyers are sellers belonging to the same country in domestic business whereas in international business both buyers and sellers belong to different countries.
The factors of production have access to move freely in domestic business whereas international trade puts restrictions on the mobility of the factors of production.
Domestic business is homogeneous in nature whereas international business lacks in homogeneity due to varying language, currency, preferences etc.
6. What are the topics covered in Chapter 11 of Class 11 Business Studies?
Following are the important topics that are covered in the Chapter 11 of Class 11 Business Studies:
Meaning of International business
Reasons for International business
Difference between domestic and international business
Scope and benefits of International Business
Modes of entry into international business
Meaning of exporting and importing
Procedures and documentations related to export and import
Foreign trade promotion
World bank, World Trade Organisation and IMF
You can learn more about this chapter from the official website of Vedantu. These solutions are available on Vedantu's official website(vedantu.com) and mobile app free of cost.
7. What are the problems of international business?
Commercial transactions ask for many legal formalities which makes it the most complex in international business.
In international business, some companies with no prior experience also take part, which creates small risks.
In international business, there are some restrictions on what can be purchased in certain areas.
When dealing with another country, you will undoubtedly find that their language differs from yours, making communication difficult.
When dealing with foreign countries, it's important to make sure that you have money in the currency that they use.