Business Studles for Classy Evoluto chapter? 1 Major Trade Centre jesswoman and owned a departmental Si fits, she opened two more 5, Mathura €.1. chavs sce bus Ca goth ening so norte to am Be th eee yor a OR Homies re 7 witha ee tet te ater a ak ses ve en nd es 1 aN NE ranted Cae nose ara ny cates of embezzlement “a to the customers. Mcreove ty employees Kentyand explain therein couse behind the losses, aia bring out te model the same type of speaker was launched by one of its competior + Characteristics ‘On scrutiny, was discovered that one of te employees shared the technical aspects ‘of the 1. An Econor Economic Actvit [Non-Economic A and emotional n Jes However, demand forsuch mobiles (Business: i) P + Business isan services with th + Profession in ) ecupstion (2) RES i 2 characte y 1. Weld \istory of Commerce in india: Trade and commerce was the mainstay of 2 SG ero ot as tn ee aRE EN ics A tees wr ct am ‘and West Martime routes were used forthe trade of pices, caseraye ess On paces + Incigenous Banking System ployee poo tude uhh cunecy and eter ofcde ee en E a demest cand eave dentinal ot Oars hand and CM tears eo 7. Nature ih money passed fom hand thane ween use or carving ot + Rise of Intermediaries Intermed maemplorme melas comprised ee eicst ite ‘commission a es eee gens, brokers and distributors. The kK ufacutersby ass tae ‘esponsibility for thers involved, especial in orig ew foreign trade, f 2 3. Natur 4, NocsCChapter1 = Evolution and Fundamentals of Business + Major Trade Centres: The leading trade centres in ancient India were 5 ayy, 1. Pataliputra 2. Peshawar Pened two the 3. Taxila 4, Indraprastha Mitially, ¢ Mt 5. Mathura italy, th 6 Varanas ever, oye tt 7 Mia 8 Uipin at her the Sher stare 9, Surat 10 Kanchi bea 1, Madura 12. Bharuch or roach nd thelossee 13. Kaveripatta 14, Tamalipt! . + Economic Activities refer to those activites, which areundertaken to ean ving huge tog 5 : + Non-Economic Activities refer to those actives, which are undertaken to satisfy socal psychological and emotional needs. — + Types of Economic Activities: The economic actities are vided into three major categories mobiles (@ Business (i) Profession; (i) Employment + Business isan economic activity, which involves production, purchase and Sale of goods ox supply of ng tok production, 9 re eal services ith the alm of ering prot compettghy] + Characteristics of Busines: The main atures of buses ects of the 1. AnEzonomic Activity 2. Production or procurement of goods and services 4. Sale or Exchange of goods and services ay 4. Dealings in goods and services ona regular basis 5. Profit Earning 6. Uncertainty of Return 7. Element of Risk + Profession includes activities requiring special knowlesge and sklls to be applied by individuals in their ‘occupation to earn fees. a + Characteristics of Profession: The main features of profession are 1. Well-defined body of knowledge 2. Restricted Entry 1 economy 3, Professional Association a 4. Codeof conduct ed 5. Service Motive 6 Rewardin the form of Fees and forest 7. Nature of work involves proving consultancy services arying + Employment refers tothe occupation in which people work for others and get remunerated in the form of salary or wages. *+ Characteristics of Employment: The main features of employment are 1. Contractual Relation, 2, Reward inthe form of salary or wages 3. Nature of work prescribed by the employer 4. No capital investmentBusiness Studies for Class 5. Code of conduct prescibed by the employer {6 Qualfication as required by the employer : Business Objectives 2 + Objectives of Business: Busi 1. Organisational or Economic Objectives 2. Socal Objectives 3. Human or Personnel or Individual Objectives ne = atcation of Business hatvties Business activites are broadly losses 9 ‘or processing of goods and materials. Fe ee whi faciltating the exchange of goods 2» Commerce: tincludes al those actives which are necessary for facitating) and services. «= Classification of Industry: Industrial activities ae divided into three broad categories: 2 1. Primary industry: tinludesallthose activites, which are connected with extraction and productionof ‘atural resources and reproduction and development oflving organisms, plants, ete. Primary Indust an be classified intotwo categories Extractive Industries; i) Genetic Industries. “Secondary ndustry:Itinludes al those activities which are connected with using the materials, which have already been extracted at the primary stage. Secondary Industry can be classified into two) ‘categories: () Manufacturing Industry; (i) Construction Industry. 3, Tertiary Industry: It includes all those activities, which are concerned with providing support services to primary and secondary industries as well as activities relating to trade. + Commerce: It consists of all those activities, which are necessary forsale, transfer or exchange of goods and services. It includes two types of activities: () rade; i) Auxiliaries to Trade. e broadly classified into three categories: ious Actives NonEeonomle Activities Econom Activities a Bw, ‘+ Trade: itimplies buying and seling of goods. Trade can be broadly classified in two categories: 1. Internal Tade:itis concerned with the buying and selling of goods and services within the geographical boundaries ofa country Internal trades oftwo types: Wholesale Trade and Retail Trade. 2. Exteral Trade: Its concerned withthe buying and selling of goods and services between persons of ‘organisations operating in two or more counties. External trade Is of three types: Export, Import an a types: Export Import and Indigenous Banking System + Revie to Tad: imps ais equedto flat the purchase and sale of goods Then aust tae a: (Tnspr i Barking surance; Warehousing; ond) Advert + busines ik refer to the possi ! buses i Bossy of iadequate profits or even losses de to uncertain oF + nature of Busines Rsk Te main features of bushes ska 1 Busnes ares uo nceranes 2. Riskisan essen part of every business 3. Degree ofr depends on nature and sizeof business 4 rohit ead for tsk taking ses of Busines Risk Busines riskares eo following causes 1, Natural Causes eal 2 Human Causes 3, Econom Coses 4, Other Causes Evolution andven sine yea | beara ae ie : sre 20H eae fi “pei reid o ‘eouemsul * Sees it ect see eT vot et ewe woes IES {ig pownbes ee uoweouHen « ope. a83010UM ‘pes feuenyl © ope ‘ojanp sosve ys suse « vedsue, © amen peu c1eOy0Ire" + ~~ gareuiiog wounsonut e409 ON, >yoM 0 @IMEN ‘senoolao 190s, uoqetay erizenu0g « ‘sanyoelgo omouosa seneunoeiea ‘91 ape (weed }-ep---(__ wowikoydurg—)...mp-.-[seourena so seAneefa0) soupy noua © wowlowa « sonjoelgo jeuuosing 20 UELuM | pee eens ve « arene moo bare ssoutsna yo 8 03pm ‘ue wonmong ‘woja4g Supuea snovebipu ee sony s1Woue93-U0N, i 3 3 E i 3 3 é i SS edt lich, “I * Studi les Gy Ategories, chan Fag 1d Produc naterials wh sifed inte Port services 9 of goods geographical 1 personsor Import and fs. The main5. Advertising: It involves all those activities which are concerned with providing info the product to the consumers. * Itis practically impossible for producers and traders to contact each and: every Advertising informs the consumers about the availability of various prod, * Itcreates product awareness by providing necessary information about the features, price, uses, quality, etc. In this way, advertising helps in removing the of information. AIDS OR AUXILIARIES TO TRADE Int Z 1 Busi = ( Transport and Banking and Insurance | Communication Finance | ( Hindrance of Hindrance of Hindrance of Place Finance Risk Saas $3343 3539kx ‘hindrance of person’ by creating a link between producers ant © Trade removes this e known as Traders or Middlemen. — * The persons who are engaged in trade ar Classification of Trade trade may be classified into two broad categories: s—- On the basis of geographical area, Wholesale Trade Retail Trade Import Trade Export Trade Entrepot 1. Internal Trade (or Home Trade): It is concerned with the buying and selling of g00 ds services within the geographical boundaries of a country. Both the buyer and the seller b to the same country. Internal trade is of two types: @ Wholesale Trade: It involves buying and selling of goods in large quantiPe e Itprov} @ Transport: It facilitates movement of goods from one place to another. (i) Banking: It provides finance and credit f i for various business activitie ies. ) Insurance: It provides protection from various kinds of risks. risks. ides following service facilities: Gi (Go) Warehousing: Itstores goods to facilitate thei their supply to the market at the right time. (o) Advertising: It provides information about the product to the cons sumers. a ae Primary Industry | ‘Secondary Industry Construction Extractive Genetic Manufacturing Industry Industry Industry Industry Farming, Poultry Farming, Cotton Textile, + Warehousing ‘Cement, «= Advertsing Cattle Breeding Mining Processing Assembling Analytical synthetical Industry Indi Industry Industry