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प्रश्न
Attempt the following.
How does banking and insurance help trading?
उत्तर
Commerce includes trade and auxiliaries to trade. Trade means buying and selling of goods and services. But buying and selling are not possible unless it is supported by the auxiliaries to trade. Thus auxiliaries to trade are the services which help trade. Banking and insurance are two important auxiliaries to trade.
- Banking: Banking services help traders in many ways. Branches of banks are spread over wider areas. Traders can open an account in the bank and take advantage of various banking services. Banks offer loans, overdrafts, transfer of money, letter of credit, foreign exchange facilities to the traders.
- Insurance: There are various kinds of risks in the business. A businessman can transfer some risks on the insurance company. Goods can be destroyed by fire, theft or damage in transportation. The businessman can transfer these risks to the insurance company. He has to pay a premium to the insurance company and make a contract with the Insurance company. In case of loss, the insurance company pays compensation to the trader.
- Thus, the risks cannot be avoided completely but can be minimized by taking an insurance policy.
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संबंधित प्रश्न
Select the correct option and rewrite the sentence.
Commerce is a branch of _______
Give one word/phrase/term.
Activities that remove all the difficulties in trade.
Give one word/phrase/term.
An occupation by which a person agrees to provide expert services for fees.
Complete the sentence.
________ is the person who offers the work.
Complete the sentence.
_______ is considered as a reward for assuming several business risks.
Select the correct option.
| Group A | Group B |
| Trade between different countries | _________________ |
Select the correct option.
| Group A | Group B |
| Purchase of goods and services from another country. | _________________ |
Answer in one sentence.
What do you mean by export trade?
Answer in one sentence.
What do you mean by genetic industry?
Distinguish between:
Industry and Commerce.
Answer in brief.
Give two types of Foreign Trade.
Answer in brief.
State any four auxiliaries to trade.
Justify the following statement.
Commerce is a wider term than trade.
Justify the following statement.
A combination of import-export trade is entrepot trade.
Justify the following statement.
Industrial activities take place before commerce starts its role.
Justify the following statement.
Available resources should be used to its maximum.
Justify the following statement.
Business is part of economic activities.
Justify the following statement.
Changing fashions is one of the important causes of business risk.
Attempt the following.
What are the different types of secondary industries?
