Commerce, at the outset, seems easy to master. Indeed, the concepts are easy to understand. However, the process of remembering all the key words and writing the perfect answer requires a lot of rigour. Here are some tips and tricks to ace this theory laden subject.
1. Begin with identifying key terms
Most schools follow the textbook by Dr. C B Gupta for Commerce. While we suggest sticking to that book for the board exams, one might find infuriating the lack of highlighted keywords in that book.
Begin your study by highlighting keywords and writing them down in a new notebook. Everything the board excepts is in the book, but often gets lost while reading. Making your own concise notes will help you greatly in the precious days before the exam.
Give the huge scope of syllabus, it is difficult to list all important key words. Going through the Pupil Analysis thoroughly will help you identify problematic places where keywords are usually missed out by students
2. Conciseness in answers
The commerce paper is often lengthy, and rambling in answers will only lose you precious time. Answer to the point. To do this, read the questions carefully and provide only that information which is asked for. For example, if a 2- mark question asks you what a Debit Card is, there is no need to mention its functions in detail.
3. Presentation of answers
A well-presented paper is essential to score well. “Presentation” does not allude as much to handwriting than to the structure of long answers.
Make flow charts and diagrams to enhance your answer wherever possible. They show the examiner at first glance that you understand what the questions requires of you. Here is a sample structure of a question requiring you to explain the acronym “PODSCoRB”.
Question 5 PODSCoRB
(DEFINITION)
Expansion of the acronym and brief explanation about the processes being functions of management.
(DIAGRAM)
Draw a circular diagram showing the relationship between all the functions.
(EXPLANATION)
Explain each of the functions in 2-3 lines.
(CONCLUSION)
Conclude all your answers in 2-3 lines. The conclusion should depict the core of the answer. In case of questions asking for merits and demerits, your conclusion can summarise the fact that although demerits are present, the merits ensure that (whatever is asked in the question) cannot be written off.
4. Mnemonics
Mnemonics are the best way to remember the panoply of key terms in the book. Try to make up mnemonics for features, elements, merits and demerits. Here are some mnemonics that might get you going:
Importance of Marketing: Farmer Harry’s Skilled Goats Bleat till Sun Down.
F- Foundation of Business
H- High Standard of living
S- Sources of revenue
G- Gainful employment
B- Basis for Decision Making
S- Satisfaction of Consumers
D- Development of Nation
Need for Consumer protection (Covering 7 points only): Confused Bill Made Bread without Sugar, Raisins and Sesame.
C- Consumer is the main purpose of business
B- Business Ethics
M- Multiple Objectives
B- Business as a means of Human Welfare
S- Stakeholder approach
R- Responsibility with power
S- Self-interest
5. Practice
As always, practice makes man perfect. Practice past year papers to get a hang of the kind of questions asked and to manage time. Make sure to cross-check your answers with the Pupil Analysis to make sure of the accuracy of our answers.
Hope this helped simplify this rather theory-heavy subject. Good luck and happy learning!
Here is an infographic summarising the above content for you for future reference:
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