ICSE Class 11 Business Studies — Important Questions 2026

Which of the following economic systems gives NO freedom to individuals to run their own business, as the government directs and controls all business activities?

In Porter's Five Forces, a situation where buyers can easily switch to alternative products without incurring extra costs primarily refers to high:

Which of the following is a part of the MICRO environment (operating environment) of a business?

According to Keith Davis, business environment is defined as 'the aggregate of all conditions, events and influences that surround and affect business.' Which feature of business environment is highlighted by the phrase 'aggregate of all conditions'?

What is the PRIMARY reward for an entrepreneur as compared to an intrapreneur?

Which of the following best describes a 'Fabian Entrepreneur' as classified by Clarence Danhof?

Joseph Schumpeter defined an entrepreneur as someone who brings economic development through new combinations of factors of production. What is the key term used to describe this role of an entrepreneur?

In which phase of the business cycle do producers continue to produce even after demand starts declining, leading to excess supply in the market?

Which of the following is the correct definition of Hedging?

Which method of risk management involves training a junior employee to take over the role of a key executive?

What is 'Premature Scaling' as a cause of business failure?

Which of the following is an INTERNAL cause of business failure?