Explain any two business activities whic | Class 11 Business Studies Chapter Business, Trade and Commerce, Business, Trade and Commerce NCERT Solutions
Question: Explain any two business activities which are auxiliaries to trade.
Answer:
Activities which are meant for assisting trade are known as auxiliaries to trade. Two business activities which are auxiliaries to trade are:
- Transport and communication: Production of goods generally takes place in particular locations but these goods are required for consumption in different parts of the country. Transportation helps in movement of raw material to the place of production and the finished goods from factories to the place of consumption. In order to facilitate information exchange among producers, traders and consumers, communication is required.
- Insurance: The other name of business is risk. Business involves various types of risks like natural risk, environmental risk, etc. insurance provides protection against such types or risk.
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Welcome to the NCERT Solutions for Class 11 Business Studies - Chapter . This page offers a step-by-step solution to the specific question from Excercise 1 , Question 11: Explain any two business activities which are auxiliaries to trade.....
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