Business Services — Business Studies STD 11 Commerce — Question

What do you understand by Intellectual Property Rights? Explain.

JawaharLal prepares ‘Ghujiya’ for customers during Holi season every year. He prepared more ‘Ghujiya’ than he could sell this year. He employed women and children also and paid them less salary manufacturing on the packages. This way he generated profit for himself.
(a) Do you think he is fulfilling all the objectives of business ?
(b) If not which aspects of this objective are not being fulfilled ?
(c) Write any two values lacking in JawaharLal.

Discuss the benefits of international business.

Satish took an insurance policy for his car. But he sold the car within a year to his friend Ramesh and got the registration done in Ramesh's name. After few months the car was stolen from Ramesh's Garage. Satish made a claim to Insurance Company. But his claim was rejected on the ground that he has not suffered any financial loss due to theft of the car.

On the basis of the given information about Satish, answer the following questions:
(a) Explain the insurance principle followed by Insurance Company in rejecting the claim?
(b) Who can claim the compensation from Insurance Company and why?

India enjoys a unique global position in terms of production of all commercially useful varieties of silk. India is the second largest producer of silk. With sericulture activities spread across 52,360 villages, the Indian silk industry is one of the largest generators of employment and foreign exchange for the country. The industry provides employment to over 8.25 million people in the country. The silk products exported include natural silk yarns, fabrics, made-ups, readymade garments, silk carpets and silk waste. The top ten importers of Indian silk and silk products were US, UK, China, UAE, Germany, Italy, Canada, France, Singapore and Hong Kong. On the basis of the aforesaid information about silk products, answer the following questions:
(a) Enumerate the two benefits available to the Indian business firms who are engaged in silk export.
(b) How do the different nations engaged in trade of silk stands to gain?

Write the merits of statutory corporations.

Differentiate between Statutory Corporation, Departmental Undertaking and Government Company.

Identify the main documents used in internal trade:
(a) A confirmed purchase order containing the term and condition on which buyer and seller agree on the product detail and cost.
(b) This document is an evidence of contract between buyer and seller. This document contains detailed description of goods quantity, price, total value, term of payment etc.
(c) A document of title issued by the transporters when goods are sent by roadways.
(d) A document of title issued by the railway authorities when goods are sent by railways.

Mr. Manchanda is a business man in Gurgoan he manufactures scooters. His son after doing an MBA in USA returns to India and suggests that they should set up a fully owned factory in Bangkok for supplying to customers in South East Area and Middle East. Mr. Manchanda however does not agree to his proposal and wants to set this unit in South India.They are having a debate in this. In your opinion with whom you agree. Give reasons for support of your answer.

Ethos Ltd., is an authorized retailer selling several luxury watch brands. Every watch that Ethos sells comes with the brand warranty and also places its Ethos stamp. Well trained staff and great looking boutiques ensure that Ethos make shopping for watches an enjoyable and unforgettable experience. Now, Ethos Ltd. with an outlet of watches exclusively for men at Lajpat Nagar, Delhi, is planning to open a branch in Rohini, Sector 13 to meet the increasing demand. It operates with the policy of cash sales and is very particular about the timings of the store.
On the basis of the given information about Ethos Ltd., answer the following questions:
(a) Quoting the lines from the above paragraph, identify the type of fixed shop small retailing business of Ethos Ltd.
(b) Which type of fixed shop large retailing business is Ethos Ltd. planning to engage in? Also, state any two features of the same business.