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Karan is running a grocery shop …

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Karan is running a grocery shop in the nearby local market whereas his friend Priyanshu works as a finance manager in a reputed IT company. In context of the above case: (i) Identify the different type of economic activities both the friends are engaged in. (ii) Distinguish between the two different types of economics activities as identified in part(i)(on any three basis)

Posted by Jashandeep Singh 3 years, 4 months ago

CBSE > Class 11 > Business Studies

1 answers

Sia ? 3 years, 4 months ago

a) Karan running grocery shop is a business activity where the retailers or wholesalers gets the goods and services from the manufacturers to the consumers.

Priyanshu works as a finance manager in a reputed IT company is in charge of the financial activities of the company.

b) The grocery shop should satisfy the needs of nearby local market.

The daily activities of management includes purchasing, restocking, accounting and selling.
Grocery shop offers low price to customers.
They have to restock the perishable goods.

Financial manager must ensure enough funds are available for business.
He should achieve safety of investment and secure maximum profit.
He should credit worthiness and good image of business.
He should raise funds at lowest possible cost.

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