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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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