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Lesson Posted on 15 Jun CBSE/Class 11/Commerce CBSE/Class 11/Commerce/Business Studies

Introduction on business:-

Ishita

Overview of nature and purpose of businessConcept of business:-Business can be defined as an economic activity concerned with regular production and distribution of goods and services to fulfil the needs and wants of society with a motive to earn a reasonable profit.Characteristics of business:-- Economic... read more

Overview of nature and purpose of business
Concept of business:-
Business can be defined as an economic activity concerned with regular production and distribution of goods and services to fulfil the needs and wants of society with a motive to earn a reasonable profit.
Characteristics of business:-
- Economic activity
- Production of goods and services
- Sale of products and services
- Dealing regularly
- Uncertainty of return
- Risk
- Profit
- Dynamic movement
- Legality
- Satisfying human needs and wants
Objectives of business:-
Goals of business can be categorised into two parts that are the primary objective and secondary objective.
Primary objective:-
The primary aim of the business is:-
- Survival
- Profit earning
- Growth
Secondary objective:-
These are as follows:
- Market standing
- Innovation
- Productivity
- Resources earning
- Manager performance
- Workers' performance
- Social responsibility
Classification of business activities:-
It can be classified into two parts:
1. Industry and

2. Commerce
The industry refers to a group of firms producing similar products.
It can be further categories into three parts:
Primary industries
- Genetic industry
- Extractive industry

Secondary industry
Manufacturing industry:-  it can be of four types:
Analytical industry, synthetical sector, processing industry, and assembling industry.
Construction industry
Tertiary industry
Commerce:- It can be classified into two parts:-
Trade and auxiliary to trade
Trade having the following parts:-
- Iternal trade consisting of wholesale and retail business
- External trade consisting of import, export and entrepot.
Auxiliary to trade consisting of:-
- Transportation and communication
- Banking
- Warehousing
- Advertisement
- Insurance

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Answered on 17/12/2018 CBSE/Class 11/Commerce/Business Studies

Education Hub

Yes I can teach economics and business studies for 2hrs
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Lesson Posted on 28/08/2018 CBSE/Class 11/Commerce/Business Studies CBSE/Class 11 CBSE/Class 12/Commerce/Economics

Profession and its features - Type of Economic Activities, NCERT Business Studies

Rajiv Vadera

I am MBA Finance. I believe in conceptual learning and not just theoretical

CBSE Class 11th, OC/OCM - State Board, ICSE/ISC - Commercial Studies, IGCSE/GCSE - Economics
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Answered on 19/03/2018 CBSE/Class 11/Commerce/Business Studies Tuition/Class XI-XII Tuition (PUC)

Artha C

Artha Academy

Yes, banks provide a vide range of services like accepting deposits, lending of advances, honouring financial instrumrnts like cheques, demand drafts, bills etc. Nowadays banks are also providing services like demat account services, insurance services.
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Answered on 07/04/2018 CBSE/Class 11/Commerce/Business Studies Tuition/Class XI-XII Tuition (PUC)

Venkatraman R.

Life Insurance is a policy which will safeguard financial interest of your immediate family members (nominee) in case of any untoward incident (like death of yours). Secondly, it is also used as reducing your tax liability.
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Answered on 17/03/2018 CBSE/Class 11/Commerce/Business Studies Tuition/Class XI-XII Tuition (PUC)

Discuss the object behind double insurance.

Kavithayini.k

Trainer

The object of double insurance is to insure the risk of the person, for the same property which is being insured earlier with some other insurance company.For example, a person can take any number of policies on his life and can recover the amount secured under every policy.
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Answered on 27/03/2018 CBSE/Class 11/Commerce/Business Studies Tuition/Class XI-XII Tuition (PUC)

Name and define the type of insurance wherein insurable interest need not exist when the policy is taken.

Keshav Kumar

Marine Insurance is the type of insurance wherein insurable interest need not exist when the policy is taken.Under a contract of marine insurance, the insurer undertakes to indemnify the insured in the manner and*to the extent thereby agreed, against marine losses. It is an arrangement by which the insurers... read more

Marine Insurance is the type of insurance wherein insurable interest need not exist when the policy is taken.
Under a contract of marine insurance, the insurer undertakes to indemnify the insured in the manner and*to the extent thereby agreed, against marine losses. It is an arrangement by which the insurers undertakes to compensate the owner of a ship or cargo for complete or partial loss at sea. Insurable interest is the subject matter which must be exist at the time of loss but it needs not exist when the policy is taken

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Answered on 17/03/2018 CBSE/Class 11/Commerce/Business Studies Tuition/Class XI-XII Tuition (PUC)

Explain briefly the principles of insurance with suitable examples.

Anil Kumar

Teacher

Hi thanks for asking this question, See for insurance decisions main factors are:- Cost to benefit ratio in terms how much premium need to pay and what is the insured amount. Secondly in today's world of fast food l, hypertension, mental disturbances, lack of physical work exercises itsitadvisable... read more

Hi thanks for asking this question,

See for insurance decisions main factors are:-

Cost to benefit ratio in terms how much premium need to pay and what is the insured amount. 

Secondly in today's world of fast food l, hypertension, mental disturbances, lack of physical work exercises itsitadvisable to take a health policy.

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Answered on 22/05/2018 CBSE/Class 11/Commerce/Business Studies Tuition/Class XI-XII Tuition (PUC)

Sunita Agrawal

Because we can carry it from one place to other
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Answered on 07/06/2018 CBSE/Class 11/Commerce/Business Studies Tuition/Class XI-XII Tuition (PUC)

What are the incentives provided by the government for industries in backward and hilly areas?

Shivani Gupta

Krishna Tution

Some of the common incentives provided by the government far industries in backward and hilly areas are: (i) Power Power is supplied at a concessional rate of 50 %, while some states exempt such units from payment in the initial years.(iii) Water Water is supplied on no-profit, no-loss basis or with... read more

Some of the common incentives provided by the government far industries in backward and hilly areas are:

(i) Power Power is supplied at a concessional rate of 50 %, while some states exempt such units from payment in the initial years.
(iii) Water Water is supplied on no-profit, no-loss basis or with 50 % concession or exemption from water charges for a period of 5 years.

(iv) Tax Holiday Exemption from paying taxes for 5 or 10 years is given to industries established in backward, hilly and tribal areas.

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