Forms of Business Organisation — Business Studies STD 11 Commerce — Question

William R Bassett has rightfully observed, "The one-man control is the best in the world if that man is big enough to manage everything." Do you agree with him? Give reasons for your answer.

There are three types of services: Business Services, Social Services and Personal services. Which of the services in your opinion are of utmost importance and why?

Write two features of internal trade.

What do you understand by qualification shares?

Sachin kumar has taken a loan from Suresh Sethi against the security of his factory premises. Even though Suresh Sethi is not the owner of the factory. Can he take a fire insurance policy of the factory premises? State the relevant insurance principle in this regard.

Briefly explain the role of commerce in business.

Shivam Enterprises is a leading manufacturer of Home Security Equipments and its products enjoy a very good reputation in the Indian market. Encouraged by this, Kartik (owner of the firm) is thinking of expanding the work to foreign territories also. Kartik wants to export the security equipment to Europe. So, he consulted Abhay, one of his friends, who is actively involved in the export and import of goods. Abhay told Kartik that the export of goods requires a special 'Procedure'. Abhay also explained the advantages and disadvantages of the International business to Kartik.
a. Discuss the procedure which is required to be followed by Kartik for the export of goods.
b. Also, discuss the various advantages and disadvantages of the International business to Kartik.

Rajesh Sachdeva insured his factory for ₹45 lakhs against fire. Due to fire, he suffered a loss of stock worth ₹24 lakhs.

How much amount can he recover from the insurance company? Why? State the relevant insurance principle in this regard.

It is right on moral grounds to give some special incentives to small scale industries. Do you agree? Justify your answer.

Write a short note on WASME.