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Business Studies

B2B, B2C, C2C

Which hindran...

Question

Which hindrance of commerce is highlighted in the following activities?I. It removes the geographical separation between producers and consumers.II. Warehousing facilitate holding of goods till they are required.III. Service which informs the consumers about the goods and services available in themarket.IV. Banking and Financing Institutions provide necessary funds to carry on business activities.
V. Insurance protects the goods in case of damage due to theft, fire, accidents

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Solution

1. It removes the geographical separation between producers and consumers- hindrance of place
2. Warehousing facilitate holding of goods till they are required- hindrance of time
3. Service which informs the consumers about the goods and services available in the market- hindrance of information
4. Banking and Financing Institutions provide necessary funds to carry on business activities- hindrance of exchange
5. Insurance protects the goods in case of damage due to theft, fire, accidents- hindrance of risk

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Q. Nikhil wants to start a wholesale business of stationery items. But he is hesitating as it will involve hindrances related to finding consumers, moving goods from place of production to market, storing goods because of time gap between production and consumption, risk of theft, fire, accidents, procurement of capital to finance above activities, providing information to the consumers about products etc. He approaches his friend Anant to discuss his problem. Anant, who himself imports the electric appliances for the purpose of exporting them to other countries, advises Nikhil to carry on with his plan and explains to him various functions performed by the second limb of business i.e., Commerce.
Anant elaborates on various advantages of 'trade' and 'auxiliaries to trade' . After getting convinced by the advice given by Anant, Nikhil starts the business named Nikhil Ltd. and finds no major problems at all in converting his desire into a business venture. Nikhil gets his company registered under the Companies Act 2013.
(a) Name the part of commerce which exclusively helps in the process of trading the goods and services.
(b) Name the type of trade under which Anant was doing his business.
(c) Name the service which helps Nikhil to remove the hindrance of storing the stationery items.
(d) Name the service which helps Nikhil to remove the hindrance of place.

Q. The hindrance of ____ is removed by trade thereby making goods available to the consumers from the producers.

Q. The are known as users as they use the products, whereas the are known as providers as they provide the required goods and services to consumers.

Q. The Consumer Protection Act provides for ______ consumer rights and helps consumers in getting their grievances redressed for any shortcoming in the goods purchased or services availed.

Q. Ability to consume the produced goods and services affects which of the following?

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