MyQuestionIcon

1

You visited us 1 times! Enjoying our articles? Unlock Full Access!

Business Studies

History of Outsourcing

Conversion of...

Question

Conversion of an object as a product and economical value of such service or activity that may trade in market is called ___________.

A

Urbanisation

No worries! We‘ve got your back. Try BYJU‘S free classes today!

B

Commercialisation

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

C

Industrialisation

No worries! We‘ve got your back. Try BYJU‘S free classes today!

D

Privatisation

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is D Commercialisation
Conversion of an object into a product so that it can be traded in the market is called commercialization. It is the process of introducing a new product or production method into commerce.

Suggest Corrections

thumbs-up

0

Similar questions

Q. State whether the following statements are True or False:
(a) Taking photographs of mountains as a hobby is an economic activity.
(b) Teaching in a school is a non-economic activity.
(c) Service or employment is an economic activity.
(d) Business involves buying and selling of goods and services.
(e) Running a hair-cutting saloon is a business.
(f) Occupations of doctors, lawyers and chartered accountants are called professions.
(g) Economic activities are undertaken for earning a living

Q. Marketing and selling the products and services of a business entity is a/an activity.

Q. What is a system of making and trading things of value, such as goods and services called?

Q. When an entrepreneur introduces a new product or service to meet the need of old market it is called ________.

Q. State with reasons whether the following statements are True' or' False' .
(a) Main elements of business activities are industry and trade.
(b) 'Industries' can be classified in five broad categories.
(c) A business activity may be carded out without any sale or exchange.
(d) Conversion of cotton into cloth is an example of a genetic industry.

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

More about Outsourcing

BUSINESS STUDIES

Watch in App

explore_more_icon

Explore more

History of Outsourcing

Standard XI Business Studies

Join BYJU'S Learning Program

CrossIcon