CBSE > Class 12 > Business Studies | CBSE Board | Homework Help

1. Product Cost: One of the most important factors affecting the price of a product or service is its cost. This includes the cost of producing, distributing and selling the product. The cost sets the minimum rate at which the product may be sold. There are broadly three types of costs: viz., Fixed Costs, Variable Costs and Semi-Variable Costs. A product’s price must at least cover the variable cost to get a marginal profit.
2. The Utility and Demand: While fixing price, the utility and demand for the product must be taken into consideration. While the product costs set the minimum limit of the price, demand of the buyer sets the upper limit of price.
3. Extent of Competition in the Market: The pricing of a product also depends upon the competition for the product. If the product has close substitutes, it cannot fix high price as customers will leave the product and buy its substitute.

4. Government and Legal Regulations: In order to protect the interest of public against unfair practices in the field of price fixing, Government can intervene and regulate the price of commodities. Government can declare a product as essential product and regulate its price. They can also fix price limits within which only one can charge for a product.

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Difference between functional and divisional structure

Posted by Nikhil Soni 4 years, 11 months ago

CBSE > Class 12 > Business Studies

1 answers

Gaurav Seth 4 years, 11 months ago

Meaning	Functional Structure is one in which the reporting relationships of the organization are bifurcated according to their functional area.	An organizational structure wherein the organizational functions are classified into divisions as per product or service lines , market, is called Divisional Structure.
Basis	Functional areas	Specialized divisions
Responsibility	Difficult to fix responsibility on a particular department.	Easy to fix responsibility for performance.
Autonomy of decisions	Managers do not have autonomy of decisions.	Managers have autonomy of decisions.
Cost	Economical, as the functions are not repeated.	Expensive as it involves repeatation of resources.
Appropriate for	Small and simple organizations.	Large and dynamic organizations.

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Omitted topics

Posted by Vaibhav Garg 4 years, 11 months ago

CBSE > Class 12 > Business Studies

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Primary objective of staffing

Posted by Hardik Arya 4 years, 11 months ago

CBSE > Class 12 > Business Studies

2 answers

Golden Yadav 4 years, 10 months ago

Selecting

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Himanshu Sharma 4 years, 11 months ago

The primary objective of staffing is to ensure you have an adequately trained workforce that can help you operate and grow your small business.

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Which of the following money market instruments used by the working capital recuriment

Posted by Hardik Arya 4 years, 11 months ago

CBSE > Class 12 > Business Studies

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Father of management

Posted by Ansh Jaiswal 4 years, 11 months ago

CBSE > Class 12 > Business Studies

3 answers

Akshat Mishra 4 years, 11 months ago

Luther Gulick

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Mradul Gohadkar 4 years, 11 months ago

Its ducker not drucker

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Hardik Arya 4 years, 11 months ago

Peter F Dracker

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What is meant by planning premises

Posted by Hardik Arya 4 years, 11 months ago

CBSE > Class 12 > Business Studies

3 answers

Golden Yadav 4 years, 10 months ago

Premises means assumption about the feature

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Hardik Arya 4 years, 11 months ago

Thank u

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Gaurav Seth 4 years, 11 months ago

Premises refers to making assumptions regarding future. The assumptions are made on the basis of forecasting. Forecast is the technique of gathering information. Planning Premises are defined as the anticipated environment in which plans are expected to operate. They include assumptions or forecasts of the future and known conditions that will affect the operation of plans

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Explain the principle authority and responsibility?

Posted by Ekta Jaiswal 4 years, 11 months ago

CBSE > Class 12 > Business Studies

2 answers

Akshat Mishra 4 years, 11 months ago

Authority means power,responsbility means obligation to complete the job. According toh this principle authority nd responsbility goes parallel i.e excess of authority may bring negative results. In other words we can say the person having responsbility must be given authority

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Aditya Raj 4 years, 11 months ago

Principle authority is the power given to the particular person and responsbility is work is given to him and authority and responsibility should be same otherwise there will be problem in management and they should given equal authority and responsibility .

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Introduction of goods and service tax in india change its

Posted by Nidhish Walia 4 years, 11 months ago

CBSE > Class 12 > Business Studies

2 answers

Sakshi Lamba 4 years, 10 months ago

Gst replaced a host of indirect taxes being levied by the central government and state government,which has changed the Taxiaton landscape.

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Canada'S ?? Julliet Anu 4 years, 11 months ago

It's act was passed in 29th march 2017 but it came in enactment on 1st july 2017.

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Hlw sir .... I'm in class 12 business studies ka medium admit card main ... Hindi h or sir ji main business studies ka board paper English m dena chahata hu .... Sir kya main de skta hu.... please please please please please please please please please please sir reply ?

Posted by Mukesh Kumar 4 years, 11 months ago

CBSE > Class 12 > Business Studies

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Name the agency which facilitates the liquidity of money market instruments.

Posted by Priyanshu Yadav 4 years, 11 months ago

CBSE > Class 12 > Business Studies

2 answers

Guess My Name Kumar 4 years ago

answer

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Canada'S ?? Julliet Anu 4 years, 11 months ago

The discount finance house of india

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Should i make project on consumer protection in bussiness for final exam

Posted by Jaspreet Singh 4 years, 11 months ago

CBSE > Class 12 > Business Studies

1 answers

Sakshi Lamba 4 years, 10 months ago

Yes..u should..this is a fantastic topic and easy too

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Explain is helping tapping and assembling resources

Posted by Swati Kothari 4 years, 11 months ago

CBSE > Class 12 > Business Studies

1 answers

Yogita Ingle 4 years, 11 months ago

A business organisation is dependent on the environment for procuring various inputs required for production such as raw material. machinery, finance etc. The procurement of these resources in an efficient manner is facilitated by studying the trends in the business environment and thereafter, deciding the supplier from which the resources will be procured and the extent of bargaining power available to the firm. In this way, business environment helps an organisation to tap useful resources.

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Levels of management and their functions

Posted by Kristy Singh Rajput 4 years, 11 months ago

CBSE > Class 12 > Business Studies

2 answers

Divya Rathore 4 years, 11 months ago

3 level of management Top level Middle level Lower level okk

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Nirotam Singh 4 years, 11 months ago

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How can i learn financial management

Posted by Zerrel Rock 4 years, 11 months ago

CBSE > Class 12 > Business Studies

3 answers

Sakshi Lamba 4 years, 10 months ago

U can easily cover this chapter through watching the videos of Commerce baba..he help u to cover this chapter in easiest way...i also learn this from there...he teaches very well..

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Aditya Raj 4 years, 11 months ago

I am also thinking the same

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Khushii Verma 4 years, 11 months ago

I am thinking the same

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Which is the best practice material for B.St?

Posted by Sakshay Aggarwal 4 years, 11 months ago

CBSE > Class 12 > Business Studies