Class 11 Business Studies Important Chapter 6 Social Responsibilities of Business and Business Ethics

Class 11 Business Studies Important Chapter 6 Social Responsibilities of Business and Business Ethics Solutions English Medium As Per AHSEC New Syllabus to each chapter is provided in the list so that you can easily browse through different chapters ASSEB Class 11 Business Studies Important Solutions and select need one. AHSEC Class 11 Business Studies Additional Notes English Medium Download PDF. HS 1st Year Business Studies Important Solutions in English.

Class 11 Business Studies Important Chapter 6 Social Responsibilities of Business and Business Ethics

Also, you can read the NCERT book online in these sections Solutions by Expert Teachers as per Central Board of Secondary Education (CBSE) Book guidelines. ASSEB Class 11 Business Studies Additional Question Answer are part of All Subject Solutions. Here we have given HS 1st Year Business Studies Important Notes in English for All Chapters, You can practice these here.

Social Responsibilities of Business and Business Ethics

Chapter: 6

Part – I: Foundations of Business

IMPORTANT QUESTION AND ANSWER

Short Type Question and Answer:

1. Define Social Responsibility of Business.

Ans: Social responsibility of business refers to its obligation to take decisions and perform actions that protect and improve the welfare of society along with pursuing its own profit interests.

2. State any two arguments in favour of social responsibility.

Ans: (i) Justification for existence and growth of business.

(ii) Avoidance of government regulations through voluntary responsible actions.

3. What are two arguments against social responsibility?

Ans: (i) Violation of profit maximization objective.

(ii) Increased cost burden on consumers.

4. Mention four types of pollution.

Ans: (i) Air pollution.

(ii) Water pollution.

(iii) Land pollution.

(iv) Noise pollution.

5. What do you mean by business ethics?

Ans: Business ethics are the moral principles that guide the behavior of businesses. It includes practices such as fairness, honesty, and respect for consumers, employees, and society.

6. Write two responsibilities of a business towards its shareholders.

Ans: (i) Ensure safety and fair returns on their investment.

(ii) Provide regular and accurate information about company operations.

7. Why should a business adopt pollution control measures? (Give any two reasons)

Ans: (i) To reduce health hazards caused by pollution.

(ii) To improve its public image as an environmentally responsible enterprise.

8. What is legal responsibility of business?

Ans: Legal responsibility of business means conducting activities in accordance with the laws and regulations of the country.

9. What is meant by economic responsibility of business?

Ans: Economic responsibility refers to the primary duty of a business to produce goods and services that society demands and to earn profit in return.

10. State any two elements of business ethics.

Ans: (i) Commitment of top management to ethical conduct.

(ii) Establishment of compliance mechanisms for monitoring ethical practices.

11. Mention any two benefits of fulfilling social responsibilities.

Ans: (i) Builds public image and goodwill of the business.

(ii) Ensures long-term sustainability and profitability.

12. What is discretionary responsibility?

Ans: Discretionary responsibility is a voluntary obligation assumed by a business, like contributing to charities or helping in disaster relief activities, without any legal or ethical compulsion.

13. Name any two types of pollution caused by industries.

Ans: (i) Air pollution caused by emission of harmful gases.

(ii) Water pollution due to dumping of industrial waste into water bodies.

14. Define the term environment.

Ans: Environment refers to all external surroundings of human beings, including natural resources like air, water, land, and man-made resources like cultural heritage and institutions.

15. Write two responsibilities of business towards consumers.

Ans: (i) Supplying quality goods at reasonable prices.

(ii) Avoiding misleading advertisements and providing correct product information.