Class 11 BST Important Differences | Easy Comparison Notes
Class 11 BST important differences in simple language with 6 points comparison for exam preparation.
📊 1. Business / Profession / Employment
| Basis | Business | Profession | Employment |
|---|
| Meaning | Profit ke liye activity | Special knowledge wali service | Job karna |
| Qualification | Jaruri nahi | Professional degree jaruri | Qualification required |
| Income | Profit | Fees | Salary |
| Risk | High | Limited | Very low |
| Capital | Required | Less | No need |
| Example | Shopkeeper | Doctor | Teacher |
📊 2. Partnership / Sole Proprietorship
| Basis | Partnership | Sole Proprietorship |
|---|
| Owners | 2 or more | Only 1 |
| Decision | Joint | Single |
| Capital | More | Limited |
| Risk | Shared | Full risk |
| Profit | Shared | Full owner |
| Control | Shared | Full control |
📊 3. Private Company / Public Company
| Basis | Private Company | Public Company |
|---|
| Members | 2–200 | Min 7, no limit |
| Share transfer | Restricted | Free |
| Public issue | Not allowed | Allowed |
| Capital | Limited | Huge |
| Control | Private | Public |
| Example | Pvt Ltd | Ltd Company |
📊 4. MOA / AOA
| Basis | MOA | AOA |
|---|
| Meaning | Company ka objective | Internal rules |
| Scope | External relation | Internal management |
| Importance | More important | Less than MOA |
| Content | Objectives | Rules |
| Change | Difficult | Easy |
| Role | Defines powers | Regulates working |
📊 5. Private Sector / Public Sector
| Basis | Private Sector | Public Sector |
|---|
| Owner | Private person | Government |
| Aim | Profit | Public welfare |
| Control | Private | Govt |
| Capital | Private funds | Govt funds |
| Efficiency | High | Moderate |
| Example | Reliance | Railways |
📊 6. Services / Goods
| Basis | Services | Goods |
|---|
| Nature | Intangible | Tangible |
| Storage | Cannot store | Can store |
| Ownership | No transfer | Transfer possible |
| Example | Teaching | Book |
| Production | Same time | Before sale |
| Touch | Cannot | Can |
📊 7. Life / Fire / Marine Insurance
| Basis | Life | Fire | Marine |
|---|
| Coverage | Human life | Property | Ship/Cargo |
| Risk | Death | Fire loss | Sea risk |
| Period | Long term | Short term | Voyage |
| Compensation | Fixed | Loss basis | Loss basis |
| Example | LIC | Fire policy | Cargo insurance |
| Nature | Certain | Uncertain | Uncertain |
📊 8. E-Business / Traditional Business
| Basis | E-Business | Traditional |
|---|
| Mode | Online | Offline |
| Cost | Low | High |
| Speed | Fast | Slow |
| Area | Global | Local |
| Interaction | Digital | Face to face |
| Example | Amazon | Shop |
📊 9. Owner’s Fund / Borrowed Fund
| Basis | Owner Fund | Borrowed Fund |
|---|
| Source | Owner | Loan |
| Risk | High | Less |
| Return | Profit | Interest |
| Control | Full | No control |
| Repayment | No need | Must repay |
| Example | Share capital | Bank loan |
📊 10. Equity Shares / Preference Shares
| Basis | Equity | Preference |
|---|
| Dividend | Variable | Fixed |
| Voting | Yes | No |
| Risk | High | Low |
| Return | Uncertain | Fixed |
| Priority | Last | First |
| Control | Yes | No |
📊 11. Shares / Debentures
| Basis | Shares | Debentures |
|---|
| Owner | Yes | No |
| Return | Dividend | Interest |
| Risk | High | Low |
| Voting | Yes | No |
| Security | No | Secured |
| Nature | Capital | Loan |
📊 12. Departmental Store / Chain Store
| Basis | Departmental | Chain Store |
|---|
| Location | One place | Many places |
| Management | Centralized | Centralized |
| Variety | Wide | Limited |
| Control | Single | Multiple branches |
| Price | High | Fixed |
| Example | Big mall | Reliance stores |
📊 13. Internal Trade / External Trade
| Basis | Internal | External |
|---|
| Area | Within country | Between countries |
| Currency | Same | Different |
| Rules | Simple | Complex |
| Risk | Low | High |
| Transport | Easy | Difficult |
| Example | Local market | Import-export |