Internal Trade — Business Studies STD 11 Commerce — Question

Which hindrance of commerce is highlighted in the following activities?
i. It removes the geographical separation between producers and consumers.
ii. Warehousing facilitates holding of goods till they are required.
iii. Advertising informs the consumers about the goods and services available in the market.
iv. Trade provides an organised market where buyers and sellers can contact each other.
v. Banking and Financing Institutions provide necessary funds to carry on business activities.
vi. There exist a time gap between production and consumption of goods.
vii. Insurance protects the goods in case of damage due to theft, fire, accidents.

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.

Reema bought a new house recently and plans to shift in the near future. Therefore, she is selling off her old kitchen appliances at OLX and has also made some profit in the process.
In the context of the above case:
i. Will this transaction be constituted as a business activity? Why or why not?
ii. Mention the underlying characteristic of the business.

Business ethics have gained great importance in the world of business. In respect to this, state what relevance does ethics have towards business?

Discuss some of the economic functions of transport services.

Distinguish between joint stock company and cooperative society.

Laksha Limited issued prospectus, inviting people to subscribe for its shares. It came up with public issue of ₹ 30 crores of ₹ 30 lakh shares worth ₹ 100 each. It received applications for ₹ 15 lakh shares. Should the company proceed with allotment of shares.

All the members of a company sitting in the annual general meeting died due to a bomb explosion.
What will be the existence status of the company? Give reason in support of your answer

Which business units are constituted under the tiny sector? This sector enjoys state patronage bilelaager in which areas?

Lalitha Devi did her post-graduation from Manipur University, Imphal. She had
offers to join some reputed firms in metropolitan cities like Delhi and Mumbai. Instead of joining any of these firms she decided to do some creative work in Imphal. She observed that a special type of chilli is grown by the farmers in most of the villages in Imphal. This chilli has a distinct flavour and pickle made from this chilli has a taste which may be liked by people from the rest of the country. But the farmers were neither trained for this kind of farming of this kind of chilli on a large scale nor was there a secured market for their produce. Lalitha Devi met 18 like-minded women of the area and formed an organisation for doing the business of pickle manufacturing. Each of them contributed ₹20,000 each towards its capital and were equally responsible for its management. On one hand they assured the farmers to purchase their chilli and on the other hand, the organisation with the help of local agriculture department arranged for the training of the farmers. They also employed 10 local unemployed graduate girls for doing the various operations of pickle making.
On the basis of the given information, answer the following questions:
(a) Identify the kind of organisation that was formed by Lalitha Devi.
(b) Explain the type of the kind of organisation that was formed by Lalitha Devi.