Business Services Q. Describe the
disadvantages of rail transport.
Ans: Disadvantages of Rail Transport:
(1) Huge Capital Outlay
(2) Lack of Flexibility
(3) No Door to Door Service
(4) Unsuitable for Short Distance
(5) Damage and Delay
(6) Evils of Monopoly
Q. What is the meaning
of transport? Define Road transport.
Ans: Transport means movement of goods
and persons from one place to another.
Road transport is the oldest means of transport,
which involves conveyance of goods and persons from one place to another by
roads and highways
Q. Write down
the advantages of Water Transport.
Ans: Advantages of
Water Transport:
(1) Cheapest means of transport
(2) Large carrying capacity
(3) Safety
(4) Can move products all over the world.
Q. What do
you understand by business Services?
Ans: Business
Services, also known as Service Sector, refers to auxiliary services
regained for continuing manufacturing and selling of goods.
Q. Define Telegraph
Services.
Ans: Telegraph
Service: Telegram is an important medium of sending messages speedily to
distant places. Government regulates the functioning of telegraph services
through its Post and Telegraph Department. It was one of the most important
mediums till other high-tech media took over.
Q. Name the
Clauses of Marine Insurance Policies
Ans: Clauses
of Marine Insurance Policies
(1) Name Clause
(2) Subject Matter
(3) Name of Ship
(4) Name of Captain
(5) Perils
(6) Commencement and Termination of Risk
(7) At and From clause
(8) Sum Assured
(9) Premium
(10) Route and Stoppage of the Ship
(11) Sue and Labors Clause
(12) Jettison
(13) Special Clause
Q. What do
you mean by Fidelity Insurance?
Ans: Fidelity insurance
is of great use to the business firm where cash and goods are handled by
employees. Under fidelity insurance, the insurance company undertakes to
compensate the insured business firm against loss caused by misappropriation of
funds or goods by its employees.
Q. What is warehouse?
Also explain the meaning of warehousing. What is the need of warehouses?
Ans: Warehouse – It is a place for the storage and preservation of
goods in proper condition. It is an establishment for the accumulation of
goods.
Warehousing means retaining the goods for future
use. It implies holding or preservation of goods from time of their production
or purchase until their consumption or sale. The warehousing service plays an
important role in supply and distribution of goods after their manufacture.
Need
for warehouses:
(1)To store excess production in anticipation of demand
(2) To store goods those are produced seasonally
(3)To store goods those have seasonal demand
(4) Stability in prices
(5) Storage of raw materials
(6) Basis of Trade
(7) Processing, curing and packaging of goods.
Q. What are the types of warehouses?
Ans: Types of warehouses:
(1)
Government warehouses
(2)
Private warehouses
(3)
Public warehouses
(4)
Cooperative warehouse
(5)
Bonded warehouse
(6)
Excise Bonded warehouse
(7)
Custom Bonded warehouse
Q. Define
Pipeline Transport. Write down the factors responsible for choice of a suitable
mode of transport.
Ans: Pipeline
Transport – Transporting crude oil, petrol, petroleum products and natural
gases through pipelines is known as pipeline transport.
Choice
of a suitable Mode of Transport:
(1) Availability of Means of Transport
(2) Distance and Cost of Transportation
(3) Safety
(4) Flexibility of Service
(5) Regularity of service
Q. How will
you define Internet?
Ans: Internet is a global network of
computers connected through telephone lines, radio links or satellite links
facilitating several information services to network users.
Q. Define General
insurance.
Ans: It is also known as an
all in one policy which covers losses arising from any kind of risks, such as,
fire, theft, burglary, third party risks, lightning, explosion of gas in
domestic appliances, earthquake, storm etc. Such policies are generally taken
by people in connection with their houses and household items.
Q. What is
the meaning of Fire Insurance?
Ans: A contract of fire
insurance is a contract where in the insurer, in consideration of the premium
paid, undertakes to compensate the insured for any loss or damage caused by fire.
It is a contract of indemnity.
Q. What is
the meaning of Financial
Services?
Ans: The financial services in a broad
sense can be defined as "mobilising savings.” It includes all activities
involved in the transformation of savings into productive investments. Also
called financial intermediation, the sector mobilises funds from a large number
of savers and make available to all those who are in need of it and
particularly to corporate enterprises.
Q. Write some
points regarding the limitations of Fax.
Ans: The limitations of
fax are as follows:
(1) Its reach is limited to the telephone network only
(2) Its dependability is based upon the effectiveness of telephone
network
(3) It is suitable for small pieces of communication
(4) The secrecy of the message may not be maintained.
Q. Write down
the importance of warehousing.
Ans: The
significance of warehousing is:
(1) Warehouses protect the goods from loss and damage
(2) They help the businessman to wait for favorable prices in the
market.
(3) They help the industrialists to manufacture godson a large
scale. Large scale production is always economical
(4) They provide facilities of processing, packing, blending etc.
of the goods for the purpose of sale
(5) They store the surplus stocks of goods they help in regulating
the supplies of goods in the market to meet their effective demand
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