Question

Sachin's father had gifted him his old laptop. Sachin wanted a latest laptop with some advanced features on his coming birthday. As the old laptop was not of needed by his father, he decided to W sell the laptop on OLX.com and then purchase a new one. Sachin sold his laptop and was very delighted to make his first business deal. While making his purchase of new laptop from flipkart.com he read a notice about some relief material being collected for J & K Flood relief work. He informed his friends about the relief material, they formed a team of five students and decided to collect the material from their neighborhood and send for relief work.
1. Can the transaction by Sachin be termed as business transaction? Why or why not, state the relevant feature of business.
2. To sell and purchase laptop, Sachin did not use traditional mode of business. What advantages did Sachin get by not using traditional mode. Give three reasons for the same.
3. Identify any two values which according to you motivated Sachin and his friends to contribute in relief work.

Answer 1

1. No. Sachin's business transaction does not happen on a 'regular basis' which is an important feature of business.

2. (i) Wide range of options to choose from while buying

(ii) Ease and convenience during the transaction.

(iii) Wide area of market for his product to be sold which increases his chances of selling.

3. The values are (i) Charity (ii) Sympathy