Question

1) State any four features of profession
2) State any two types of industries
3) Give two types of Foreign Trade
4) State any four Auxiliaries to Trade
5) State any four features of employment
6) Write any four objectives of business
7) State any four features of business
8) State any two types of primary industry
Q.6 Justify the following statements.
1) Retailer is in direct contact with ultimate consumers.
2) Commerce is a wider term than Trade.
3) Risk is inevitable in business activities.
4) Combination of Import-export tradi​

Answer 1

Answer:

1.)Following are the features of the Profession: Qualification: A particular qualification is required to practice a profession. A professional needs to acquire knowledge through formal education. ... Work Nature: A professional who is an expert in a particular field, provides services in his field of expertise.

2.)These are primary,secondary,tertiary and quaternary. Primary industry involves getting raw materials e.g. mining, farming and fishing. Secondary sector involves manufacturing e.g. making cars and steel. Tertiary sector provide a service e.g. teaching and nursing.

3)Give two types of Foreign Trade.

...

Solution

Import Trade: When the goods or services are purchased from other countries it is called import trade.

Export trade: When the goods are sold to other countries, it is called export trade.

Entrepot trade: It is also called re-exporting.

4)Warehousing: Warehousing helps to store the goods safely. ...

Advertising: Advertising is an important tool in the hands of a businessman to communicate with potential buyers. ...

Insurance: Business is exposed to many risks. ...

Transport: Transport is an important auxiliary to trade.

5.)Following are the features of employment:

Aim: The main aim of a person accepting employment is to earn money.

Qualification: Qualifications are required depending upon the nature of employment. ...

Monetary returns: The person who accepts employments and works for the employer gets remuneration after specific intervals.

6)Objectives of Business – Profitability, Growth, Stability, Efficiency and Survival. Business means busy in some activities. Business means conducting activities such as – sale, purchase and manufacturing etc for profit and growth.

Explanation:

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