Define Industry. Explain various types of industries giving examples.
Industry refers to economic activities, which are connected with conversion of resources into useful goods. The term industry is used for activities in which mechanical appliances and technical skills are involved. These include activities relating to producing or processing of goods as well as breeding and raising animals.
Different types of industries are as follows:
Primary industry: Primary industry includes all those activities, which are connected with the extraction and production of natural resources and reproduction and development of living organisms, plants. These industries may be further sub-dived as follows:
a. Extraction Industries: These industries extract or draw out products from natural sources. Extractive industries supply some basic raw materials that are mostly the products of the soil. Products of these industries are usually transformed into many other useful goods by manufacturing industries.
b. Genetic Industries: The industries remain engaged in breeding plants and animals for their use in further reproduction. For the breeding of plants, the seeds and nursery companies are typical example of genetic industries.
Secondary industries: Secondary industries are concerned with using the materials, which have already been extracted the primary stage. These industries process such materials to produce goods for final consumption or for further processing by other industrial units. Secondary industries may be further divided as follows:
a. Manufacturing Industries: These industries are engaged in producing goods through process of raw materials and thus creating for utilities. Manufacturing industries may be further divided into four categories on the basis of method of operation for production:
i. Analytical industry: Analytical industry which analyses and separates different elements from the same materials, as in the case of oil refinery.
ii. Synthetic industry: It combines various ingredients into a new product, as in the case of cement.
iii. Processing industry: It involves successive stage for manufacturing finished products, as in the case of sugar and paper.
iv. Assembling industry: It assembles different component parts to make a new product, as in the case of television, car, computer, etc.
b. Construction Industries: These industries are involved in the construction of buildings, dams, bridges, cock, roads as well as tunnels and canals. Engineering and architectural skills are important part in the construction industries.
Tertiary Industries: Tertiary industries are concerned with providing support services to primary and secondary industries as well as activities relating to trade. These industries provide service facilities. As business activities these may be considered as a part of commerce because as auxiliaries to trade they assist trade.
What factors are to be considered while starting a business? Explain.
Discuss the development of indigenous banking system in Indian subcontinent.
What were the different types of Hundi in use by traders in ancient times?
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?
Describe various types of insurance and examine the nature of risks protected by each type of insurance.
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
Discuss the salient aspects of B2C commerce.
What are services? Explain their distinct characteristics.
Describe briefly the data storage and transmission risks in e-business.
What is e-banking. What are the advantages of e-banking?
Evaluate the need for outsourcing and discuss its limitations.
Explain the functions of commercial banks with an example of each.
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.