Question

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.P94 Poind 9.
4) Combination of Import-export trade is entrepot trade.
5) Transport creates place utility
6) Industrial activities take place before commerce starts its role.
7) Available resources should be used to its maximum. 896.1.4 d
8) Wholesaler is a link between retailer and manufacturer.
9) Business is a part of economic activities.
10) Changing fashions is one of the important cause of business risk.​

Answer 1

Answer:

2. Because trade is the part of commerce.

4. Because import means that goods are come from outside of the country and export means send goods to other country and entrepot means that goods came from other country to any port can sold from that port to another country .

9.As we know that economic activities refers to those activities in which transaction are made from cash. so in business there is a transaction of cash .

10. Changing fashion is one of the business risk because as the country is developing new trends are coming so the people are going for the new

Answer 2

All the statements mentioned herein are true to the fact and their justification can be briefly provided as follows;  

1) Retailer is in direct contact with ultimate consumers.

• Retailers are the ones who sell the final product to the customers and hence they are the direct contact.  

2) Commerce is a wider term than Trade.

• Commerce is a wider term than trade because commerce includes activities of manufacturing, packaging whereas trade is only concerned with selling.  

3) Risk is inevitable in business activities

• For a business idea to be successful it is inevitable to have risk, because chances of failure are always pertinent.  

4) Combination of Import-export trade is entrepot trade.

• When a country imports certain goods and then exports them to other countries it is known as entrepot trade.  

5) Transport creates place utility

• Transport established complete utilization of space.  

6) Industrial activities take place before commerce starts its role.

• Commerce starts when the goods produced are with the aim of generating revenue. Industrial activities occur before this idea of selling starts and are more to solve a specific problem or gap in the market.  

7) Available resources should be used to its maximum.

• Available resources by organizations (not natural resources) must always be used to the maximum to achieve maximum resource utilization and value addition.  

8) Wholesaler is a link between retailer and manufacturer.

• Wholesalers are those people who lie between the manufacturers and then sell the goods in bulk to the retailers.  

9) Business is a part of economic activities.

• Business is indeed a fundamental part of the economic activities and it is through the business that an industry, nation earns its maximum revenue.  

10) Changing fashions is one of the important cause of business risk.​

• Changing trends, fashions and trade legislations are the important causes of the risk of the business.
• What might be demanding today may become obsolete tomorrow, and businesses selling the former will become obsolete too in the later period.  

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