1. Give an example of activity which is economic is one side and non economic on other
side
2. Why is business considered an economic activity ?
3. If a person sells his domestic computer at profit. will it be considered a business?
Also explain the characteristic of business which is being stressed upon in the above
said example ?
4. Name the economic activity is which specialized knowledge is required.
5. Why is insurance known as tertiary Industry ?
6. Mr. Rajnesh sold his furniture & bike on OLX as he was shifting base to London. In this
a business activity ? Which element of business is being referred to here?
7. A lawyer is working in a knowledge process outscoring (KPO) organization. Which
type of economic activity Is he performing ?
8. A company has decided to donate 1% of its sale to an NGO, serving mentally disabled
people. this initiative by the company was highly appreciated by the public and their
sales increased by 10%.
i. Identify the objective depicted in the given example.
ii. Highlight the value which the company desires to emphasizes through this
activity
9. DTH services are provided by
i. Transport companies il. Banks iij. Cellular companies iv. None of these
10. Overdraft facility is available only on ..........
i. Current account deposits iii. Saving account deposits
Fixed deposit
iv. Recurring deposits
11. It is a type of saving bank account in which excess of a particular limit gets
automatically transferred to fixed deposit account.
i. Current deposit account
iii. Recurring deposits
ii. Multiple option deposit account
iv. None of these
12. Current account is most suitable for the mobilization of saving of the public.
13. The bank does not pay any interest on saving account deposit .
14. Overdrafts are only allowed in current accounts.
15. Money can be withdrawn from fixed deposit accounts by cheques.
16. Who can get a overdrafts from a bank?
17. Which type of deposit account is suitable for business organizations? why?
18. Which type of deposit account offers maximum interest on the deposit?
19. Mention any 2 methods of advancing loans by the commercial banks?
20. The bank issues a financial instrument, with the help of which money can be sent
from one place to another. Identify this instrument.
Answers
Answer:
1. An example of an activity which is both economic as well as non-economic is a doctor treating his patients. When he does treatment in exchange of money, it is economic. But when he treats poor patients for free, it is a non-economic activity.
2. Business is considered an economic activity because it is concerned with production, purchase, sale or distribution of goods and Services with an aim of earning profit.
3.If a person sells his domestic computer at a profit, it will not be considered as a business activity because he/she is neither doing it on regular basis nor selling from a shop or business space/place. It will not be a business because the business is that what businessman do on regular basis
4.Many economists recognize the following five economic sectors; the primary sector which includes agriculture, mining and other natural resource industries; the secondary sector covering manufacturing, engineering and construction; a tertiary sector for the service industries, the quaternary sector for intellectual ...
5.tertiary industry are those industry which provide services rather than producing good or article . insurance is tertiary industry as it provides us the guarantee of compensation for specified loss, damage, illness, or death in return for payment of a specified premium.
6.the element of business "Dealing in goods and services " is being referred here. Yes, it is an business activity. It is because he sold his objects to third person on internet for an specified amount. It shows an economic activity.
7. ..................................................................
8.....................................................................
9.......................................................
10.The sanctioned overdraft limit and the interest charged will vary based on the nature of the asset offered as collateral. ... The overdraft facility works like an approved loan. Money can be withdrawn as and when required and the interest has to be paid only on the amount borrowed and only for time it was borrowed.
11.The sanctioned overdraft limit and the interest charged will vary based on the nature of the asset offered as collateral. ... The overdraft facility works like an approved loan. Money can be withdrawn as and when required and the interest has to be paid only on the amount borrowed and only for time it was borrowed.
12.False : 'Saving Account' is the most suitable for mobilisation of savings of the public.
13.
Explanation: