Business, Trade and Commmerce — Business Studies STD 11 Commerce — Question

State the meaning of business.

To promote a company, what series of steps are required to be conducted?

Karim after completing his XII exam from his village school joined the course of electrician in an ITI in a town near his village. On completion of this course he tried for a government job but could not get the same. He, therefore decided to help as a worker to a renowned electrician in that area. After working with him for two years he decided to start his own electrician shop in the village. For this he purchased equipment for ₹10,000 and hired a shop at a monthly rent of ₹2000. He decided to manage the shop by himself.
On the basis of the given information, answer the following questions:
(a) Identify the form of business organisation started by 'Karim'.
(b) State any four characteristics of such a form of business organisation.

Identify the type of cooperative society in which members provide financial assistance to other members. Also elaborate it.

What do you understand by statement in lieu of prospectus?

Rahul gets his godown insured against fire for 1,00,000 but does not take enough precautions to minimize the chances of fire like installing fire extinguisher in the godown. During the policy period, a fire take place in his godown and he does not take any steps like throwing water and calling the employees from the fire fighting department to control the fire.

Can he still claim the compensation from the insurance company? State the relevant principle in this context.

Explain the features of one person company.

Shiela after graduating from college went back to her home town in Meghalaya. It was a small town with very few job opportunities. The Karbi tribal women in that area were uneducated but still practiced the method of obtaining traditional colours from natural wild herbs. Their most popular dye was indigo obtained from the leave called 'sibu'. Using these colours they added variety to their textiles. The women were mainly confined to their homes and they did not know how to make a living out of their talent. Shiela went from door to door and analysed the problem that existed. She thought of setting up a business of buying textiles from them and converting them to suits in her factory in Noida. Her business turned out to be a great success.

On the basis of the given information about Shiela,answer the following questions:

(a) Identify the type of business activity Shiela is engaged in.

(b) Specify the category of the type of business activity performed by Shiela.

(c) Which type of business activity is undertaken by Karbi tribal women by getting indigo obtained from the leave called 'sibu'?

What are the various types of industries?

Explain the factors that are responsible for the existence of Joint Hindu Family business?