JAI HIND COLLEGE, BASANTSING INSTITUTE OF SCIENCE &

J.T. LALVANI COLLEGE OF COMMERCE,

CHURCHGATE, MUMBAI 400020.

QUESTION BANK
PREPARATIONS FOR ABT
CLASS : S.Y.J.C.
SUBJECT : O.C.M

Q.1.A) Select the correct option and rewrite the sentences.

1) -------------------------------------------------------- was regarded as Father of Scientific

Management.
a) Henry Fayol b) F W Taylor c) Philip Kotler
Ans:- F W Taylor was regarded as Father of Scientific Management.

2) Principle of............... is based on 'A place for everything and everything in its place'.
a) discipline b) order c) equity
Ans:-Principle of order is based on 'A place for everything and everything in its place

3) Members of the organization should receive orders from ............. .

a) many superior b) one superior c) all
superiors
Ans:- Members of the organization should receive order from one superior

4) Scalar chain means the hierarchy of ............. from the top level to the lower level for the
purpose of communication.
a) discipline b) unity c) authority
Ans:- Scalar chain means the hierarchy of authority from the top level to the lower level for the
purpose of communication.

5) Taylor recommended total............... foremen to control the various aspects of production.

a) eight b) three c) two
Ans:-Taylor recommended total 8 foremen to control the various aspects of production

6) The functions of management start with................... function.

a) organising b) planning c) coordinating
Ans:- The functions of management start with the planning function.

7) The functions of management end with ..............

a) directing b) staffing c) controlling
Ans:-The functions of management end with controlling

8) ____________________________________ sets out standards for controlling.

a) Staffing b) Planning c) Coordinating
Ans:-Planning sets out standards for controlling

9) Organization function is important for execution of the plans which have been prepared by
............... management.
a) top level b) middle level c) lower level
Ans:- Organization function is important for execution of the plans which have been prepared
by top level management.

10) _________________________________ is the function which supports to activate the

plans with the help of employees.
a) Staffing b) Directing c) Co-ordinating
Ans:- Directing is the function which supports to activate the plans with the help of
employees.

11) _____________________________________ is the function of execution according to

the plan and the organizational structure.
a) Controlling b) Directing c) Staffing
Ans:- Directing is the function of execution according to the plan and the organizational
structure.

12) ______________________________ arranges the work in such a way that minimum

conflicts are raised.
a) Co-ordinating b) Organizing c) Controlling
Ans:- Co-ordinating arranges the work in such a way that minimum conflicts are raised.

13) The word 'entrepreneur' is derived from the................. word 'entreprendre'.

a) Japanese b) English c) French
Ans:-The word 'entrepreneur' is derived from the French word 'entreprendre'.

14) 'Entreprendre' means to ................

a) Undertake b) Enterprise c) Businessman

Ans:- 'Entreprendre' means to Undertake

15) Start Up India is an initiative of the ------------------

a) RBI b) Government of India c) World Bank
Ans:- Start Up India is an initiative of the Government of India

16) ................ is the idea of bringing urban residents to rural areas, by empowering local
communities, both socially and economically.
a) Agro tourism b) Medical tourism c) Entertainment
Ans:- Agro tourism is the idea of bringing urban residents to rural areas, by empowering local
communities, both socially and economically.

17) Door to door service is provided by.................. transport.

a) railway b) road c) air

Ans:-Door to door service is provided by road transport.

18) _______________ creates time utility.

a) Warehouse b) Transport c) Communication
Ans:- Warehouse creates time utility

19)_________________________ warehouses provide facilities for perishable commodities.

a) Bonded b) Cold storage c) Government
Ans:-Cold storage warehouses provide facilities for perishable commodities.
20) _______________________ policy covers all types of risks of a vessel while it is anchored
at the port for a particular period of time.
a) Port risk b) Voyage c) Floating
Ans:-Port risk policy covers all types of risks of a vessel while it is anchored at the port for a
particular period of time.

21) Principle of.................. is not applicable to life insurance.

a) insurable interest b) utmost good faith c) indemnity

Ans:-Principle of indemnity is not applicable to life insurance.

22) For online transactions........... is required.

a. registration b. trading c. business

Ans:-For online transactions registration is required.

23) The term 'e-business' is derived from the term....... and e-commerce.

a. Cash b. e-pay c. e-mail

Ans:- The term 'e-business' is derived from the term e-mail and e-commerce.

24) The transactions under......... are between consumers and consumers.

a. B2B b. C2C c. B2C

Ans:-The transactions under C2C are between consumers and consumers.

25) The process of contracting a business function to someone else is called as .......

a. outsourcing b. trading c. e-business

Ans:- The process of contracting a business function to someone else is called outsourcing.

26) In online shopping customers put the product in the ....... .

a. shopping mall b. shopping cart c. shopping bag

Ans:- In online shopping customers put the product in the shopping cart

27) Business is a....................... activity

a) Socio-economic b) Service c) Charitable

Ans:-Business is a Socio-economic activity

28) Business organisation should try to make....................... utilisation of natural resources.

a) Minimum b) Maximum c) Optimum

Ans:-Business organisation should try to make Optimum utilisation of natural resources

29) For economic growth and national security ____________stability is required.

a) Political b) Social c) Economic

Ans:-For economic growth and national security Political stability is required.

30) Making timely payment of proper taxes is the responsibility of organisation towards
.....................

a) Shareholders b) Customers c) Government

Ans:-Making timely payment of proper taxes is the responsibility of organisation towards
Government.

31) Businessmen are....................... of society.

a) Representatives b) leaders c) Trustees

Ans:-Businessmen are Trustees of society.

32) Business should provide periodic information to ........... .

a) Customers b) Owners c) Employees

Ans:-Businesses should provide periodic information to Owners
33) Business should offer adequate opportunities of promotion to their .........

a) Employees b) Customers c) Investors

Ans:-Business should offer adequate opportunities of promotion to their Employees

34) The term 'Ethics' is derived from the.............. word 'Ethos' which means character.

a) Latin b) French c) Greek

Ans:-The term 'Ethics' is derived from the Greek word 'Ethos' which means character

35) Business ethics refers to the...................... system of principles.

a) Economic b) Social c) Moral

Ans:-Business ethics refers to the Moral system of principles

36) Business organisation should protect health and provide safety measures to ........... .
a) employees b) owners c) investors

Ans:-Business organisation should protect health and provide safety measures to employees.

37) At least...................... % of the average net profit should be spent on C.S.R.

a) 5% b) 2% c) 3%.
Ans:-At least 2 % of the average net profit should be spent on C.S.R.

38) In India, the consumer protection act was initiated in the year ........ .
a) 1947 b) 1989 c) 1986
Ans:-In India, the consumer protection act was initiated in the year 1986

39) The President of the District Commission is a .............. .

a) District Judge b) High Court Judge c) Supreme Court Judge
Ans:-The President of the District Commission is a District Judge

40) The main objective of the consumer organization is to protect the interest of the ....... .

a) Consumer b) trader c) producer

Ans:-The main objective of the consumer organization is to protect the interest of the
Consumer .

41)________________ is the highest authority to settle the consumer dispute under Act.
a) State Commission b) National Commission c) District Commission
Ans:-National Commission is the highest authority to settle the consumer dispute under Act.

42) The Government has established......... to settle consumer disputes by compromise

a) District Commission b) Lok Adalat c) Consumer organisation

Ans:-The Government has established Lok Adalat. to settle consumer disputes by compromise

43) The National Commission has.......... members.

a) 2 b)3 c) 4
Ans:-The National Commission has 4 members.

44) District Commission entertains complaints of consumers for compensation which is less
than ........ .

a) one crore b) ten lacs c) ten crore

Ans:-District Commission entertains complaints of consumers for compensation which is less
than one crore.

45)............... is celebrated as World Consumer Day.

a) 24th December b)26th January c) 15th March
Ans:-15th March is celebrated as World Consumer Day.

46) In the modern competitive market, consumers are regarded as the ........... .
a) king, b) Agency c) Owner
Ans:-In the modern competitive market, consumers are regarded as the king.

47) The term market is derived from the............... word 'mercatus'

a) French b) Latin c) Italian

Ans:-The term market is derived from the Latin word 'mercatus'

48) In the................... concept of market, emphasis is given on 'buying and selling of goods or
services' .

a) Place b) Exchange c) Customer

Ans:-In the Exchange concept of market, emphasis is given on 'buying and selling of goods or
services' .

49) Perishable goods such as vegetables, fruits, milk products etc. are sold in Market

a) Very Short Period b) Short Period c) Long Period

Ans:-Very Short Period

50) Retail market is the market where retailers sell goods directly to the............ in small
quantities.

a) Producer b) Wholesaler c) Consumer

Ans:-Retail market is the market where retailers sell goods directly to the Consumer in small
quantities.

B) Find the odd one.

1) Principle of Authority and Responsibility, Motion Study, Principle of Division of Work,
Principle of Discipline.
Ans:- Motion Study

2) Fatigue Study, Principle of Unity of Command, Work Study, Motion Study.

Ans:-Principle of Unity of Command

3) Planning, Organizing, Staffing, Writing.

Ans:-Writing

4) Selecting, Training, Co-ordinating, Placing

Ans:- Co-ordinating

5) Communicator, Innovator, Self-starter, Inactive.

Ans:- Inactive

6) Trekking, Wildlife study, Horseback riding, Indoor games.

Ans:-Indoor games

7) Innovation, Lack of communication, Development of market, Determining the objectives.

Ans:-Lack of communication

8) Primary credit co-operative society, State co-operative bank, District co-operative bank,
Exchange bank.
Ans:-Exchange bank

9) NABARD, RBI, SIDBI, EXIM.

Ans:- RBI

10) Direct mail, Logistics post, Business post, Parcel

Ans:- Parcel

11) Endowment policy, Whole life policy, Money back policy, Blanket policy.
Ans:- Blanket Policy

l2) BPO,RTO,LPO,KPO
Ans:- RTO
13) B2B,B2C,A2Z,C2C
Ans:-A2Z

14) Debit card, Credit card, Aadhar card, ATM card.

Ans:-Aadhar card

15) Job security, health and safety measures, good working conditions, reasonable profit.

Ans:Reasonable profit

16) Good quality products, fair prices, honest advertising, prevent congestion in cities.

Ans:-Prevent congestion in cities.

17) Timely payment of taxes, earning foreign exchange, creating goodwill, and political
stability.

Ans:-Creating goodwill

18) Protection of environment, maintain transparency, employment generation, development

of backward regions.
Ans:-Maintain transparency

19) Proper conduct of meetings, careful use of capital, fair prices of products, maintain
solvency and prestige.
Ans:-Fair prices of products

20) District Commission, State Commission, NGO, National Commission

Ans:- NGO

21) District Judge, High Court Judge, Commissioner, Supreme Court Judge
Ans:-Commissioner

22) Primary Market, Secondary Market, Retail Market, Terminal Market

Ans:-Retail Market

23) Stock Exchange, Foreign Exchange, Bullion Market, Manufactured Goods Market

Ans:-Manufactured Goods Market

24) Price, People, Promotion, Product

Ans:-People

25) People, Promotion, Physical Evidence, Process

Ans:-Promotion

C) Complete the sentence

1) The task of getting things done by others is known as Management.
2) The functions of a manager start with Planning.
3) The directing function of management initiates action
4) Recruitments are done under staffing functions.
5) Planning is the fundamental function of management.
6) Co-ordinating integrated departmental activities for achieving the common goal of the
organization.
7) Controlling is the last function of management.
8) An entrepreneur is a person who starts a Business/Enterprise.
9) 'Start- up' India initiative was launched in 2016.
10) The term bank comes from the French word Banco .
11) Cold Storage warehouses provide facilities for perishable commodities
12) In Fleet policy, several ships belonging to one owner are insured under the same policy.
13) Mobile Banking refers to the use of banking services with the help of mobile phones.
14) E-business is an abbreviation for Electronic Business.
15) The term e-business came into existence in the year 1997.
16) E-business means using the Internet to connect people and process.
17) E-business is superset e-commerce.
18) E-commerce is a subset e-business.
19) The process of contracting a business function to specialized agencies is known as
Outsourcing
20) Business organisation can maximise profitability by minimising wastage.
21) Social responsibility is broader than Legal responsibility.
22) The concept of trusteeship was propounded by Mahatma Gandhi.
23) Businesses should earn reasonable profit.
24) Remuneration should be fixed according to the nature and importance of work.
25) The word 'Ethics' is derived from the Greek word ' Ethos .
26) The National Commission is to be established by the Central Government.
27) Any person who does not agree with the decision of the District Commission can appeal to
the State Commission.
28) The State commission has Four members.
29) The President of the National Commission is the Supreme judge.
30) National Commission entertains complaints of consumers for compensation that exceeds
Rs. Ten Crore.
31) The consumer protection Act established Three Tier quasi judicial systems for consumer
protection.
32) Market is the place where transactions of buying and selling of goods and services take
place in exchange of money or money's worth.
33) Monopsony refers to a market situation when there is a single buyer of a commodity or
service.
34) Label is a slip which is found on the product and provides all the information regarding the
product and its producer.

d) Correct the underlined word and rewrite the following sentences.

1)Security in a job always adversely affects the efficiency of employees.

Ans:-Insecurity in job always affects adversely on the efficiency of employees

2) Esprit de corps means 'division is strength'.

Ans:-Esprit de corps means 'unity is strength'.

3) Each member of the organization should receive orders from only one subordinate.
Ans:-Each member of the organization should receive orders from only one Superior
.
4) Decentralization means concentration of powers and authorities at a specific position.
Ans:- Centralization means concentration of powers and authorities at a specific position.

5) Management techniques are applied differently under different conditions.

Ans:-Management principles are applied differently under different conditions.

6) Factors of the business environment are always fixed.

Ans:- Factors of the business environment are always changing.

7) Staffing is concerned with machines.

Ans:-Staffing is concerned with humans.

8) Directing is a function of comparing the actual performance with the predetermined

performance.
Ans:-Controlling is a function of comparing the actual performance with the predetermined
performance.

9) Co-ordination helps to maximizes the wastage of resources and controls the cost of work.
Ans:- Co-ordination helps to minimize the wastage of resources and controls the cost of work.

10) Controlling measures are rigid to some extent.

Ans:- Controlling measures are flexible to some extent.

11) The word 'Entrepreneur' comes from the German verb entreprendre, it means' to undertake'
Ans:- The word 'Entrepreneur' comes from the French verb entreprendre, it means' to
undertake' .

12) Entrepreneurs try to make home a better place where the needs of consumers can be
satisfied.
Ans:-Entrepreneurs try to make market a better place where the needs of consumers can be
satisfied.

13) The loan taken under the stand-up India scheme is repayable in ten years.
Ans:-The loan taken under the stand-up India scheme is repayable in seven years.

14) E-business is hard to start.

Ans:-E-business is easy to start.
15) There are five stages of online transactions.
Ans:-There are three stages of online transactions.

16) Registration is the Last step in online transactions.

Ans:-Registration is the First step in online transactions.

17) Digital cash is a form of plastic currency.

Ans:-Digital cash is a form of electronic currency.

18) KPO includes less knowledge based and specialized work.

Ans:-KPO includes more knowledge based and specialized work.

19) Social responsibility is a narrower term than legal responsibility of business.

Ans:-Social responsibility is a Broader term than legal responsibility of business

20) All sorts of fair practices related to stock exchange should be avoided.
Ans:-All sorts of Unfair practices related to stock exchange should be avoided

21) Management and union should agree strikes and lockouts to protect the interest of both
the parties.
Ans:-Management and union should ban strikes and lockouts to protect the interest of both the
parties.

22) MRP (Maximum Retail Price) should not be printed on every packet.
Ans:-MRP (Maximum Retail Price) should be printed on every packet.

23) Dishonest advertising can be appreciated by customers in the long run.

Ans:- Honest advertising can be appreciated by customers in the long run.

24) Financial help should be provided by business organizations for anti social activities.
Ans:-Financial help should not be provided by business organizations for anti social activities.
25) Business ethics is a compulsory term.
Ans:-Business ethics is a Voluntary term

26) Business ethics is not a relative term.

Ans:-Business ethics is relative term.

27) Social values are based on perceptions of right or wrong.

Ans:- Moral values are based on perceptions of right or wrong.

28) Moral values provide general guidelines for social conduct.

Ans:-Social values provide general guidelines for social conduct.

29) An appeal can be filed against the order of the National Commission to the State forum.
Ans:-An appeal can be filed against the order of the National Commission to the Supreme
Court.

30) The National Commission is established by the State Government.

Ans:-The National Commission is established by the Central Government.

31) District Commission is also referred to as People's Court.

Ans:-Lok Adalat is also referred to as People's Court.

32) In India, sellers are widely dispersed and are not united.
Ans:-In India, consumers are widely dispersed and are not united.

33) National Commission entertains complaints where the value of the goods or services paid
as consideration does not exceed Rs. one crore .
Ans:-District Commission entertains complaints where the value of the goods or services paid
as consideration does not exceed Rs. one crore .
34) Commodity Market refers to the market for borrowing and lending long term
capital required by business.
Ans:-Capital Market refers to the market for borrowing and lending long term capital required
by business.

35) In duopoly there is a single seller.

Ans:-In Monopoly there is a single seller.

36) Pricing bridges the time gap between production and sale of goods.
Ans:-Warehousing bridges the time gap between production and sale of goods.

37) Branding is the process of classification of products according to similar characteristics

and/ or quality.
Ans:-Grading is the process of classification of products according to similar characteristics
and/ or quality.

38) Grading helps in avoiding breakage, damage and destruction of the product.
Ans:-Packaging helps in avoiding breakage, damage and destruction of the product.

39) Overdraft facility is available for savings bank account holders.

Ans:-Overdraft facility is available for Current bank account holders.

40) Services are tangible in nature.

Ans:-Services are Intangible in nature.

41) Insurance helps to maximize the risks in the business.

Ans:-Insurance helps to minimize the risks in the business.

42) The foreign bank is the apex financial institution in the banking industry in the country.
Ans:-The Central bank is the apex financial institution in the banking industry in the country.
43) RTGS stands for Reasonable Time Gross Settlement.
Ans:- RTGS stands for Real Time Gross Settlement.

e) Arrange in proper order

1) Controlling, Organizing, Planning.

Ans:-Planning, Organizing, Controlling

2)Directing, Co-ordinating, Staffing.

Ans:-Staffing, Directing, Co-ordinating

3) Claim, Accident, Taking the policy, Compensation

Ans:- Taking the policy, Accident,Claim, Compensation

4) Email, Inland letter, Courier

Ans:- Inland letter, Courier, Email

5) Purchase or sale / Delivery stage / Pre purchase or sale.

Ans:-Pre purchase or sale,Purchase or sale,Delivery stage

6) Placing an orders, Cash on delivery, Registration

Ans:-Registration,Placing an orders, Cash on delivery

7) National Commission, District Commission, State Commission.

Ans:-District Commission, State Commission,National Commission

8) District Judge, Supreme Court Judge, High Court Judge.

Ans:-District Judge,High Court Judge,Supreme Court Judge

9) Local market, international market, national market.

Ans:-Local market,national market,international market

10) Grading, Market Planning, Distribution.

Ans:-Market Planning, Grading, Distribution
Q.2) Study the following case/situation and express your opinion.

1) Mr. Harshad is an entrepreneur and engaged in production of eco-friendly utensils. Both

male and female workers are working in his factory. All male employees are directly working
on machines whereas female employees are working in the Packaging Department. Mr.
Sharath is working as Finance Manager while Mrs. Naina is working as HR Manager who is
responsible for recruiting employees in the factory. On this basis:

i) Identify any one principle of management in the above case.

Ans:- Principle of Division of Work is identified in the above case.

ii) What is the designation of Mrs. Naina in this organization?

Ans:- Mrs. Naina is the HR Manager.

iii) Who is responsible for overall planning of the organization?

Ans:- Mr.Harshad is responsible for overall planning of the organization.

2) In 'Fine Diamonds Ltd.' 200 employees are working in three shifts. In first shift 60
employees, in second shift 60 employees and in third shift 80 employees are working without
sufficient breaks except lunch break and shift change break. No employee is able to complete
the work in designated time due to inappropriate time management which results in delay for
next shift employees.

i) Identify which scientific principle needs to be followed by the company.

Ans:- In the above case, the scientific principle needs to be followed by the company is “
Science not rule of Thumb”.

ii) Suggest two scientific techniques which can be used for smooth flow of work in 'Fine
Diamonds Ltd. '
Ans:- Two Scientific techniques which can be used for smooth flow of work in “Fine
Diamonds Ltd” are:
1) Work study
2) Functional Organization.

iii) Why is the work not being completed in time?

Ans:- The work was not completed on time, because of inappropriate time management which
results in delay for next shift employees.
3) Mr. Ram, an emerging entrepreneur has designed a structure of his business organization by
taking into consideration the required resources such as land, money, machinery, workforce
etc, for his new business. He appointed Mr.Shyam as a manager. Mr.Ram has assigned the 35
responsibilities such as recruitment, selection, training and development and to determine the
remuneration of the employees' to Mr.Shyam. Mr. Ram has also appointed Mr.Shubham to
supervise the work done by the employees according to the standards given to the employees.
Mr.Shubham has to also suggest the remedies to the employees wherever necessary.

On this context, find out the management functions performed by

i. Mr. Ram
Ans:- Mr.Ram performed the function of planning.

ii. Mr.Shyam
Ans:- Mr.Shyam performed the function of staffing.

iii. Mr.Shubham
Ans:- Mr. Shubham performed the functions of directing and controlling.

2) In XYZ Company,Mr. Lele gives instructions to the employees working under him,
provides guidance and motivates them for their best performance. On the other hand
Mr.Sayyad takes effort to harmonize the work done by the employees of different departments
while achieving organizational goals. Mr.Desai is looking after the arrangement of required
resources to the business organization.
Mention the name of employee engaged in following functions:
i. Organisation
Ans:- Mr Desai is engaged in the function of organisation.

ii. Direction
Ans:- Mr Lele is engaged in the function of directing.

iii. Co-ordination
Ans:-Mr Sayyad is engaged in the function of co-ordination

5) Mr. Soham is a young MBA degree holder, Mr. Navin is a B.Com graduate. Mr. Soham is
willing to start a dairy farm in his village. Mr. Navin is willing to work as cashier in a Private
Company.
i) Find out the dream of Soham and Navin.
Ans:-Mr. Soham wants to be an entrepreneur. And Mr. Navin wants to work as a cashier in a
Private Company.

ii) State any one feature of an Entrepreneur.

Ans:-The feature of an entrepreneur are Intellectual Capacity, hard work, self confidence,
Optimistic, Communication skill (mention any 1)

iii) To become a successful entrepreneur, which qualities Mr. Soham should have?
Ans:- Qualities of a successful entrepreneur are passionate, determined, self starter, open
minded, confident, competitive and creative.

6) Ms.Harshali started a new business two years ago. Her customers are located in different
parts of the country and hence they are directly depositing bill amounts in her business
account. At the same time she used to pay various payments from this account only.

i) Identify Type of account maintained by Ms. Harshali.

Ans:- Ms. Harshali has maintained a current account.

ii) Suggest any one modern way of money transfer to Ms.Harshali.

Ans:-Ms. Harshali can transfer money by RTGS, NEFT, IMPS and NET BANKING.(mention
any 1)

iii) What kind of facility does she get on her bank account?

Ans:-She will get Overdraft facility on her current account.

7) Mr. Jagan is a salaried person. He wants to take policy for his two children which assures
them protection as well as completes their financial needs once they become major by age.

i) Suggest him a policy which can satisfy the requirements of his children.
Ans:- Mr. Jagan can take Child Insurance Policy for his children.

ii) Who are beneficiaries of policy?

Ans:- Mr.Jagan’s children are the beneficiaries of the policy.

iii) In the above case which principle is involved?

Ans:-In the above case,Principle of Insurable Interest is involved.

8) Mr. Sharan is a successful manufacturer. He is having production units at various locations.

He has multiple production units, he has a large stock of raw material and finished goods. He is
worried about safeguarding goods from any unwanted financial loss. He also requires to
transfer raw material and finished goods from one unit to another but does not have any facility
for that. He also requires funds for expansion.

i) Name the service which will help him to safeguard goods from any damage?.
Ans:- In this case,insurance will protect him to safeguard goods from any damage.

ii) Which service will help him to remove the difficulty of the place?
Ans:-Transport will help him to remove the difficulty of the place.

iii) From which service sector will he get financial support?

Ans:-Mr.Sharan will get financial support from the Banking sector.

9) Mr. Amit is a businessman. He has his own factories in Pune and Nashik. He lives in Pune
with his wife and 2 daughters aged 5 and 8 years.

i) Can Mr. Amit take out a life insurance policy for his wife and 2 children?
Ans:- Yes,Mr. Amit can take a Life Insurance policy for his wife and 2 children.

ii) Can Mr. Amit take a marine insurance policy for his factories?

Ans:-No, Mr Amit cannot take Marine Insurance policy.

iii) Which type of insurance should Mr. Amit take responsibility for protecting his
factories from loss due to fire?

Ans:- Mr. Amit should take fire insurance for protecting his factories from loss due to fire.

10) Abhay purchases some gift articles online from www.flipkart.com. At the same time
Sheetal purchased a gift from e-bay.com.

i. Which website is related to C2C?

Ans:- In the above case,the website related to C2C is eBay.com.
ii. Which website is related to B2C?
Ans:-In the above case, the website related to B2C is www.flipkart.com.

iii. What first step does Abhay need to follow?

Ans:- Abhay needs to follow the first step of registration in online business.

11) Satvik purchases watches from Titan shop and his friend Shambhavi purchases watches
from online shopping sites.

i. Which shopping is from traditional business?

Ans:- Satvik’s shopping is from Traditional business.

ii. Which shopping is from e-business?

Ans:- Shambhavi’s shopping is from E-Business.

iii. Which business involves high risk ?

Ans:- The risk involved in E-Business or Online Shopping is high.

12) Mr. Ved made his payment by cheque at the same time Mr. Shlok made his payment by
fund transfer.

i. Whose payment is faster ?

Ans:- Mr. Shlok‘s payment is faster.

ii. Whose payment is related to traditional business ?

Ans:- Mr. Ved’s payment is related to traditional business.

iii. Whose payment is related to e-business ?

Ans:- Mr. Shlok’s payment is related to E-Business.

13) Yashwant Co. Ltd. is providing facilities for their female staff like day care center for kids
and work from home facility. Even management takes their suggestions while taking the
decisions though they are members of trade union

i) By doing this they are following social responsibilities towards which interest groups?
Ans:- Yashwant Co.Ltd is following social responsibilities towards employees.

ii) What values are they presenting?

Ans:- They are presenting social values.

iii) What kind of responsibilities does the employer follow in the above case?
Ans:- In the above case,the employer is following, ‘Workers Participation in Management’.

14) An organisation manufacturing paints has been enjoying a prominent market position for
many years. It has been dumping its untreated poisonous waste on the river bank: which has
created many health problems for the nearby villages.

i) Which responsibility is neglected by the manufacturing organisation?

Ans:- The manufacturing organisation is neglecting their, “Responsibility towards the society”.

ii) What kind of pollution are they doing?

Ans:- The manufacturing organisation is creating water pollution.

iii) What precautionary measures they need to take?

Ans:- In the above case, the manufacturing organisation can take precautionary measures for
proper sewage treatment and management.

15) A vehicle manufacturing company has adopted the following practices.

A) Only those components will be used by the company which are environment friendly.
B) There will be discharge of harmful wastes only after their proper treatment.
C) Pollution level of every vehicle will be maintained as per international standards.

i) By doing this,business organizations follow social responsibility towards which interest

group?
Ans:- The business organisation is following “Social Responsibility towards
Community/Society/Public”.

ii) What kind of pollution do they want to avoid?

Ans:- They want to avoid “ Air Pollution” and “Water Pollution ''.

iii) What kind of message do they want to convey?

Ans:- In this case,they want to convey the message that every business organisation shall be
responsible towards the society it is part and parcel of.

16) Mr. Ashok visited a shop to buy a pair of shoes for ₹. 700. The salesman forced him to buy
a pair of bigger size shoes from an ordinary company by claiming this size would be suitable to
him. After reaching home, he discovered that shoes were still too big for him. He complained
about the shoes to the shopkeeper. It was denied by the shopkeeper to replace the shoes despite
the availability of stock.
In above case
i) Which right has been violated?
Ans:- Right to Choose has been violated.

ii) Comment on the right which has been violated.

Ans:- According to the Right to Choose, Consumers should be given full freedom to select an
article as per the requirement, liking and purchasing capacity. The seller cannot force
consumers to buy a particular product.

iii) Where can Mr. Ashok file his complaint?

Ans:- Mr. Ashok can file his complaint in the District Commission.

17) Mrs. Meera, a resident of Nagpur District bought a washing machine worth ₹. 50,000
without cash memo with a warranty period of 2 years. After 1.5 years she noticed some defect
and asked the company to repair or replace it. The company did not accept her complaint
despite the defective product.

In the above case,

i) Suggest suitable redressal machinery to protect her right.
Ans:-Mrs. Meera can approach the District Commission for the redressal.

ii) If she is not satisfied with the decision given by redressal machinery, where should she
appeal?
Ans:- Mrs. Meera can appeal to the State Commission if she is not satisfied with the decision
given by the District Commission.

iii) What was the negligence of Mrs. Meera while buying the washing machine?
Ans:-Mrs. Meera should have asked for a cash memo/invoice for her washing machine.

18) Mr X purchases goods from the nearest shop. Mr Y purchases mobiles from Tokyo. Mr Z
of Nandurbar purchases electronic goods from Delhi.

i) From which type of market does Mr.X purchase?

Ans:- Mr.X purchases goods from Local Market.

ii) Name the type of market from where Mr.Y deals?

Ans:- Mr. Y purchases mobile from International Market.

iii) State the type of market from where Mr.Z purchases goods?
Ans:- Mr. Z purchases goods from the National Market.

19) Mr. X deals in import and export business so he needs different foreign currencies. For the
expansion of his business, he borrows money from the bank. He invests his funds in the equity
shares.

i) Name the market from where Mr.X borrows money?

Ans:- Mr X borrows money from the Capital Market.

ii) Name the market where Mr. X invests his funds?

Ans:-Mr X invests his funds in the Regulated Market.

iii) Which type of currency is required for the international market?

Ans:-International Market requires foreign currencies like Dollars,Pounds, Euros etc.