NIOS Business Studies Notes - Class 10

   Business Studies – 215 (Class X)

Q.1 Explain any two characteristics of Profession.

     Ans.  Characteristics of Profession :(A)   Specialized Knowledge : We already know that every profession requires specialized knowledge to be acquired through training. This knowledge cannot be inherited.
To be a chartered accounted one has to pass the examinations conducted by the Institute of Chartered Accountants of India.(B)   Service Motive : The primary objective of every profession is to provide service. The professionals get some remuneration for providing such services. Thus , doctors, lawyers and other professionals work with service motive and in the process and earn money for their live hood.

Q.2 Explain the term ‘Business Activities’.Ans.  Activities connected with production , purchase and sale of goods or services with the object of earning profit are known as business activities. For example mining , trading , transporting and banking.

Q.3 State the functions of wholesales.Ans.  Wholesalers buy goods directly from the producers or manufactures in bulk (large quality) and sell them to retailers in small  quantities . They do not generally supply goods to the ultimate consumers. They deal in particular line of goods such as textiles , papers, food grains, motor parts etc.

Q.4  What will happen if there is no business activity in the world ?Ans.  If there is no business in the world the complete economy would be affected . No exchange of goods and services would destroy the complete economy . Unemployment , poverty , corruption , price rising would increase in the whole world and no government would be able to control the situation.