Tick the appropriate answer: (d). This growth is driven by India’s favourable regulatory environment which guarantees stability and fair play. (c) Fire Insurance (d) All of the above Answer: Various telecom services available for enhancing business are as follows: Question 4. Explain the functions of commercial banks with an example of each. (c) Lending of funds (d) None of the above There are three types of services: Business Services, Social Services and Personal Services. NCERT Solutions For Class 11 Business Studies Business Services. -> Difference Between Goods And Services : -> Services: Are identifiable and intangible economic activities that provide satisfaction of human wants. Service Sector Service sector includes commercial firm engaged in banking. Define services and goods. (c) Automatic Teller Machine (d) Automatic Transfer Money After 5 years, she divorced her husband. Question 4. Answer: A good is a physical product which can be delivered to a buyer and involves the ownership from seller to customer. Can Avi take a fire insurance policy of that factory? II. NCERT Solutions for Class 6, 7, 8, 9, 10, 11 and 12. activities that create value and provide benefits for customers at specific times and places as a result of bringing desired change. 3. Give full form of ATM. (a) Very Small Aperture Terminal (b) Vidyut Supply and Transport These services cannot be consistent in nature. (a) Reliance (b) Idea Answer: The principles of insurance are explained below: Question 5. Giving loans; (b) 3. Combined with changing consumer preferences, such technical and regulatory innovations have enhanced the “tradability” of services and, thus, created a need for multilateral disciplines. Overdraft; 4. (a) Internet Banking (b) E-banking Question 1. Question 1. (a) 13. Answer: No, he cannot claim the compensation because the principle of utmost good faith is not followed. It provides speed post facility for over 1000 destinations in India. The service processes can be either manual or mechanized or both. Question 14. Agency Functions. (a) Professional Sportsmen (b) Non-professional Sportsmen It can be used at any place and at any time even while travelling. The best app for CBSE students now provides Nature and Purpose of Business class 11 Notes Business Studies latest chapter wise notes for quick preparation of CBSE exams and school based annual examinations. Waterways; Generally there are four modes of transport that uses different types of vehicle, infrastructure and operation. (b) 7. (a) 3. Answer: Yes, she can claim because in life insurance insurable interest has to be present at the time of affecting the policy but need not be present at the time when the claim falls due. It expands far and wide due to facility of internet banking. 1. different kinds of transport facilities that are used by people to move from one place to the other and also to shift the goods from one place to other. Banks arrange to send money from one place to another for the convenience of their customers. Answer: The health of the insurance sector reflects a country’s economy. This sector not only generates long term funds for infrastructure development, but also increases a country’s risk taking capacity. The benefits of public warehousing includes Question 9. 1. Question 3. Short Answer Type Questions However, besides these functions there are many other functions which these banks perform. 7. Answers: What are services? Similarly I can’t say that banking (Business Service) is less important than services of restaurants (Personal Service) or vice-versa. Answer: There are many types of insurance. V. Value Based Questions -> Inventory (Loss) They are sometimes provided without a payment in lieu. (c) 12. This view is helped in no small part by a booming insurance industry. (c) Very Small Application Terminal (d) Video Screening Aperture Terminal It reduces risk and ensures greater security. Many services, which have long been considered genuine domestic activities, have increasingly become internationally mobile. Long Answer Type Questions It is the duty of the insured to make an effort for minimization of loss. (a) Control (b) Flexibility In which type of insurance, interest must exist only at the time of insurance? Some services may be provided differently be different service providers. CBSE Business Studies Chapter 1 Nature and Purpose of Business in PDF format are available for free download in myCBSEguide mobile app. Ever since the Indian government liberalised the insurance sector in 2000 and opened the doors for private participation, the sector has become stronger. Speed post in India connects major countries of the world. (a) Life Insurance (b) Marine Insurance What is e-banking? When more than one mode -of transport is used by a person for transportation then it can be described as a multi-model transport. They have long lasting effects on our society and economy. (c) 4. Answer: The life insurance policies Eire of many types. Human powered transport; 2. CBSE Class 11 Business Studies Notes : Buisness Services. Banks collect cheques, drafts, bills of exchange and dividends of the shares for their customers. Each mode of transport has its own advantages and disadvantages. DTH services are provided by 1. Availability of banking facility at any time and anywhere increases satisfaction of the consumers. It removes time gap between production and consumption and thereby creates time utility. Explain warehousing and its functions. Explain the functions of e-banking. . 5. -> Lack Of Homogeneity Or Inconsistency In which of the insurance policy loss cannot be measured? Answer: Honesty is missing in this case and the principle of utmost good faith is violated and hence the person’s beneficiary cannot get the claim for his policy. NCERT Solutions Class 11 Business StudiesBusiness Studies Sample Papers, I. Multiple Choice Questions Business Services class 11 Notes Business Studies in PDF are available for free download in myCBSEguide mobile app. Answer: In my opinion, these services are complementary to each other and hence, they have their own importance. Answer: It is summarized in the table given below: Question 3. (c) Fire Insurance (d) All of the above The definition of service is “any intangible product, which is essentially a transaction and is transferred from the buyer to the seller in exchange for some consideration (or no consideration). Answer: E-banking is a service provided by many banks, in which a customer is allowed to conduct banking transactions through internet. Question 3. Banking network is no more limited to the number of branches. Construction and related engineering services; Recreational, cultural and sporting services; They benefit to a larger section of society. (c) Mitigation id) Insurable Interest 6. Discounting of Bills of Exchange; Explain their distinct characteristics. Sports insurance is not available for: NCERT Solutions for Class 6, 7, 8, 9, 10, 11 and 12. Answer: A service is an act or performance offered by one party to another. Explain briefly the principles of insurance with suitable examples. It is a general term used to specify the (d) 2. Which of the following is an example of E-banking? Question 2. FCI, STC, CWC are examples of: TEXTBOOK QUESTIONS SOLVED. Banks make payment for their clients and at times accept the bills of exchange: of their customers for which payment is made at the fixed time. It is possible to carry out a classification of services based on two general dimensions such as what is being processed, whether is it a person or an object, and how is it being processed? Long Answer Type Questions Facilities of postal department are broadly divided into: Question 4. To which insurance, principle of indemnity is not applicable? (c) Private Warehouses (d) Cooperative Warehouses All these functions can be divided under the following heads: Question 8. This—seemingly modest—share should not be underestimated, however. The distinct characteristics of services are mentioned below: Question 2. Free PDF download of NCERT Solutions for Class 11 Business Studies Chapter 4 Business Services solved by Expert Teachers as per NCERT (CBSE) Book guidelines. 1.4.3 e-Banking The growth of Internet and e-commerce is dramatically changing everyday life, with the world wide web and e-commerce transforming the world into a digit global village. (d) (a) 120 (b) 140 This trend is likely to continue, owing to the introduction of new transmission technologies (e.g., electronic banking, tele-health or tele-education services), the opening up in many countries of long entrenched monopolies (e.g.

.

Peach Crisp For Four, Black Hair Oil Recipes, Tarte Bronzer Review, Yamaha R15 V2 Modification Tips, Bangalore To Trivandrum Route By Car, Slow Cooker Chicken Legs Casserole, Mac Os X Internals: A Systems Approach, Zinus Ultima Comfort Memory Foam 6 Inch Mattress, Full, D Phrygian Chord Progression, Kabul House Menu,