Discuss the development of indigenous banking system in Indian subcontinent.
Following are the points which highlight the development of indigenous banking system in Indian Subcontinent:
1. Metal as money: As economic life progressed, metals began to supplement other commodities as money because of its durability and divisibility. As money served as a medium of exchange, the introduction of metallic money and its use accelerated economic activities.
2. Use of Hundi and Chitti: Documents such as Hundi and Chitti were in use for carrying out transactions in which money passed from hand to hand. Hundi as an instrument of exchange, which was prominent in the subcontinent. It involved a contract which-
(i) Warrant the payment of money, the promise or order which is unconditional.
(ii) Capable of change through transfer by valid negotiation.
3. Development of banks: Indigenous banking system played a prominent role in lending money and financing domestic and foreign trade with currency and letter of credit. With the development of banking, people began to deposit precious metals with lending individuals functioning as banker or Seths, and money became an instrument for supplying with a means of producing more goods.
4. Agriculture and livelihood opportunities: Agriculture and the domestication of animals were important components of the economic life of ancient people. Due to the favourable climatic conditions they were able to raise two or sometimes three crops in a year. In addition to this, by resorting to weaving cotton, dyeing fabrics, making clay pots, utensils, and handicrafts, sculpting, cottage industries, masonry, manufacturing, transports etc, they were able to generate surpluses and saving for further investment.
5. Role of intermediaries: Intermediaries played a prominent role in the promotion of trade. They provided considerable financial security to the manufacturers by assuming responsibility for the risks involved, especially in foreign trade. It comprised commission agents, brokers and distributors both for wholesale and retail goods. An expanding trade brought in huge amounts of silver bullion into Asia and a large share of that bullion gravitated towards India.
6. Credit transactions: The emergence of credit transactions and availability of loans and advances enhanced commercial operations. The Indian subcontinent enjoyed the fruits of favourable balance of trade, where exports exceeded imports with large margins and the indigenous banking system benefitted the manufacturers, traders and merchants with additional capital funds for expansion and development. Commercial and Industrial banks to provide both short and long-term loans to finance agriculturists.
What factors are to be considered while starting a business? Explain.
What were the different types of Hundi in use by traders in ancient times?
Define Industry. Explain various types of industries giving examples.
Why is business considered as economic activity?
List the major exports and imports in ancient India.
Define business. Describe its important characteristics.
State the different types of economic activities.
List any five major commercial cities of ancient India?
Describe the activities relating to commerce.
What do you understand by maritime trade?
Define services and goods.
State any three differences between e-business and traditional business.
1. The structure in which there is separation of ownership and management is called
(a) Sole proprietorship (b) Partnership
(c) Company (d) All business organisations
2. The karta in Joint Hindu family business has
(a) Limited liability (b) Unlimited liability
(c) No liability for debts (d) Joint liability
3. In a cooperative society the principle followed is
(a) One share one vote (b) One man one vote
(c) No vote (d) Multiple votes
4. The board of directors of a joint stock company is elected by
(a) General public (b) Government bodies
(c) Shareholders (d) Employees
5. Profits do not have to be shared. This statement refers to
(a) Partnership (b) Joint Hindu family business
(c) Sole proprietorship (d) Company
6. The capital of a company is divided into number of parts each one of which are called
(a) Dividend (b) Profit
(c) Interest (d) Share
7. The Head of the joint Hindu family business is called
(a) Proprietor (b) Director
(c) Karta (d) Manager
8. Provision of residential accommodation to the members at reasonable rates is the objective of
(a) Producer’s cooperative (b) Consumer’s cooperative
(c) Housing cooperative (d) Credit cooperative
9. A partner whose association with the firm is unknown to the general public is called
(a) Active partner (b) Sleeping partner
(c) Nominal partner (d) Secret partner
1. A government company is any company in which the paid up capital held by the government is not less than
(a) 49 per cent (b) 51 per cent
(c) 50 per cent (d) 25 per cent
2. Centralised control in MNC’s implies control exercised by
(a) Branches (b) Subsidiaries
(c) Headquarters (d) Parliament
3. PSE’s are organisations owned by
(a) Joint Hindu family (b) Government
(c) Foreign Companies (d) Private entrepreneurs
4. Reconstruction of sick public sector units is taken up by
(a) MOFA (b) MoU
(c) BIFR (d) NRF
5. Disinvestments of PSE’s implies
(a) Sale of equity shares to (b) Closing down private sector/public operations
(c) Investing in new areas (d) Buying shares PSE’s
6. The equity-based joint venture does not include
(a) Cooperative development (b) Company
(c) Partnership (d) Limited liability partnership
What is e-banking. What are the advantages of e-banking?
How does outsourcing represent a new mode of business?
Write a note on various telecom services available for enhancing business.
Describe briefly any two applications of e-business.
Explain briefly the principles of insurance with suitable examples.
What are the ethical concerns involved in outsourcing?
1. The structure in which there is separation of ownership and management is called
(a) Sole proprietorship (b) Partnership
(c) Company (d) All business organisations
2. The karta in Joint Hindu family business has
(a) Limited liability (b) Unlimited liability
(c) No liability for debts (d) Joint liability
3. In a cooperative society the principle followed is
(a) One share one vote (b) One man one vote
(c) No vote (d) Multiple votes
4. The board of directors of a joint stock company is elected by
(a) General public (b) Government bodies
(c) Shareholders (d) Employees
5. Profits do not have to be shared. This statement refers to
(a) Partnership (b) Joint Hindu family business
(c) Sole proprietorship (d) Company
6. The capital of a company is divided into number of parts each one of which are called
(a) Dividend (b) Profit
(c) Interest (d) Share
7. The Head of the joint Hindu family business is called
(a) Proprietor (b) Director
(c) Karta (d) Manager
8. Provision of residential accommodation to the members at reasonable rates is the objective of
(a) Producer’s cooperative (b) Consumer’s cooperative
(c) Housing cooperative (d) Credit cooperative
9. A partner whose association with the firm is unknown to the general public is called
(a) Active partner (b) Sleeping partner
(c) Nominal partner (d) Secret partner
Discuss the salient aspects of B2C commerce.
Describe various types of insurance and examine the nature of risks protected by each type of insurance.
Explain briefly the principles of insurance with suitable examples.
Evaluate the need for outsourcing and discuss its limitations.
Define services and goods.
State any three differences between e-business and traditional business.
Why are e-business and outsourcing referred to as the emerging modes of business? Discuss the factors responsible for the growing importance of these trends.
Discuss the limitations of electronic mode of doing business. Are these limitations severe enough to restrict its scope? Give reasons for your answer.
Explain in detail the warehousing services.