Question

CAN ANYBODY SOLVE THIS??
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PART I (20 Marks)
Answer all questions.
Question 1 [10 2]
Answer briefly each of the questions (i) to (x).
(i) Give two differences between economic activities and non-economic activities.
(ii) What is meant by public sector undertaking?
(iii) With reference to cooperative organisations, explain the term, one man, one vote.
(iv) What is meant by implied authority of a partner?
(v) What are smart cards?
(vi) State any two functions of a Stock Exchange.
(vii) What is meant by the term business ethics?
(viii) Name two types of international trade.
(ix) What is reinsurance?
(x) What are automatic vending machines?

PART II (60 Marks)
Answer any five questions.
Question 2
(a) State any three reasons why a business concern must earn profits. [3]
(b) Explain four features of a public-sector undertaking. [4]
(c) Give five advantages of a Co-operative organisation. [5]
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2

Question 3
(a) Discuss any three threats to E-business transactions. [3]
(b) Distinguish between profession and employment. [4]
(c) State and explain the steps involved in the incorporation of a Company. [5]
Question 4
(a) Mention any three responsibilities of business towards the community. [3]
(b) Define a Government Company. Discuss three merits of Government company. [4]
(c) Giving suitable examples state and explain the types of industries, on the basis of
their activity.
[5]
Question 5
(a) With regard to corporate organisations, explain what is meant by promotion.
State any two types of promoters.
[3]
(b) Give any four points of difference between Memorandum of Association and
Articles of Association.
[4]
(c) A Joint Stock Company is an artificial person; created by law having a perpetual
succession and common seal. Explain the statement.
[5]
Question 6
(a) Explain any three regulatory functions of SEBI. [3]
(b) Explain the terms cash discount and trade discount. [4]
(c) What is meant by WTO? Explain any four objectives of WTO. [5]
Question 7
(a) Explain the terms insurable risk and non-insurable risk and give one example of
each.
[3]
(b) Explain any four services rendered by a wholesaler to a retailer. [4]
(c) What is meant by life insurance? What is its importance in the present context? [5]
Question 8
(a) State any three characteristics of foreign trade. [3]
(b) Explain any four documents used in home trade. [4]
(c) Explain the functions of chamber of commerce. [5]
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3

Question 9
Write short notes on
(a) Objectives of insurance [4]
(b) Bill of entry and Bill of sight. [4]
(c) Demerits of International trade.

Answer 1

CAN ANYBODY SOLVE THIS??

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PART I (20 Marks)

Answer all questions.

Question 1 [10 2]

Answer briefly each of the questions (i) to (x).

(i) Give two differences between economic activities and non-economic activities.

(ii) What is meant by public sector undertaking?

(iii) With reference to cooperative organisations, explain the term, one man, one vote.

(iv) What is meant by implied authority of a partner?

(v) What are smart cards?

(vi) State any two functions of a Stock Exchange.

(vii) What is meant by the term business ethics?

(viii) Name two types of international trade.

(ix) What is reinsurance?

(x) What are automatic vending machines?

PART II (60 Marks)

Answer any five questions.

Question 2

(a) State any three reasons why a business concern must earn profits. [3]

(b) Explain four features of a public-sector undertaking. [4]

(c) Give five advantages of a Co-operative organisation. [5]

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2

Question 3

(a) Discuss any three threats to E-business transactions. [3]

(b) Distinguish between profession and employment. [4]

(c) State and explain the steps involved in the incorporation of a Company. [5]

Question 4

(a) Mention any three responsibilities of business towards the community. [3]

(b) Define a Government Company. Discuss three merits of Government company. [4]

(c) Giving suitable examples state and explain the types of industries, on the basis of

their activity.

[5]

Question 5

(a) With regard to corporate organisations, explain what is meant by promotion.

State any two types of promoters.

[3]

(b) Give any four points of difference between Memorandum of Association and

Articles of Association.

[4]

(c) A Joint Stock Company is an artificial person; created by law having a perpetual

succession and common seal. Explain the statement.

[5]

Question 6

(a) Explain any three regulatory functions of SEBI. [3]

(b) Explain the terms cash discount and trade discount. [4]

(c) What is meant by WTO? Explain any four objectives of WTO. [5]

Question 7

(a) Explain the terms insurable risk and non-insurable risk and give one example of

each.

[3]

(b) Explain any four services rendered by a wholesaler to a retailer. [4]

(c) What is meant by life insurance? What is its importance in the present context? [5]

Question 8

(a) State any three characteristics of foreign trade. [3]

(b) Explain any four documents used in home trade. [4]

(c) Explain the functions of chamber of commerce. [5]

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3

Question 9

Write short notes on

(a) Objectives of insurance [4]

(b) Bill of entry and Bill of sight. [4]

(c) Demerits of International trade.

.

Answer 2

Answer:

Part- 1:

i) Economic activity refers to a human activity related to production and consumption of goods and services for economic gain. Non-economic activity is an activity performed gladly, with the aim of providing services to others without any regard to monetary gain. Economic, i.e. to earn money.

ii) A state-owned enterprise in India is called a Public Sector Undertaking (PSU) or a Public Sector Enterprise. These companies are wholely owned by the Government of India or one of the many state or territorial governments or both together in parts. ... The company stock is majority-owned by the government in a PSU.

iii) The cooperative societies work with democratic principle of 'one man one vote'. All the. members get only one voting right irrespective of capital contributed by them.

iv) Implied authority refers to an agent with the jurisdiction to perform acts that are reasonably necessary to accomplish the purpose of an organization. Under contract law, implied authority figures have the ability to make a legally binding contract on behalf of another person or company.

v) A smart card, chip card, or integrated circuit card (ICC or IC card) is a physical electronic authorization device, used to control access to a resource. ... Smart cards can provide personal identification, authentication, data storage, and application processing.

vi) Some of the Important Functions of Stock Exchange/Secondary Market are listed below:

• Economic Barometer: ...
• Pricing of Securities: ...
• Safety of Transactions: ...
• Contributes to Economic Growth: ...
• Spreading of Equity Cult: ...
• Providing Scope for Speculation: ...
• Liquidity: ...
• Better Allocation of Capital:

vii) Business ethics is the study of appropriate business policies and practices regarding potentially controversial subjects including corporate governance, insider trading, bribery, discrimination, corporate social responsibility, and fiduciary responsibilities.

viii) There are three types of international trade: Export Trade, Import Trade and Entrepot Trade. Export and import trade we have already covered above. Entrepot Trade is a combination of export and import trade and is also known as Re-export.

ix) Reinsurance is insurance that an insurance company purchases from another insurance company to insulate itself from the risk of a major claims event. With reinsurance, the company passes on some part of its own insurance liabilities to the other insurance company.

x) A vending machine is an automated machine that provides items such as snacks, beverages, cigarettes and lottery tickets to consumers after cash, a credit card, or a specially designed card is inserted into the machine.