explain business activities and classification ?

Answers

Answer 1

Answer:

Business activities may broadly be classified into two categories namely (A) Industry and (B) Commerce. Industry involves production of goods and services whereas commerce is concerned with the distribution of goods and services.

Explanation:

hope helps

Answer 2

Explanation:

Business is the buying, selling & exchange of goods & services for-profit service or motive is commonly known as business. The term business is derived from the word ‘busy’. In a specific sense, business activities refer to any occupation in which people regularly engage in an activity with a view to earning the profit. Let us take a look at the classification of business activities.

Classification of Business Activities

Into two broad categories, various business activities can be classified-

Industry

Commerce

Industry

The sector where raw material gets converted into useful products is called industry. Activities related to production & processing as well as activities related to rearing & reproduction of animals or other living species are all included in the industry. The purpose of industry is to create form utility by converting raw materials into useful forms of finished products.

An industry may produce consumer goods or capital goods. Goods such as bread, butter, cloth, radio, etc. are consumer goods. These goods are directly used by the consumer. Goods such as machinery, cement etc. are called capital goods as these are used further in the production process to make useful products.

Commerce

We can refer to commerce as all those activities which help directly or indirectly in the distribution of goods to the ultimate consumer. There will be no use of producing goods unless & until these goods reach the ultimate consumer. Goods are produced at one place & consumers are scattered at different places. Commerce can be classified into two broad categories:

Trade

Aids to trade

Trade

Trade is an integral part of commerce. It includes buying & selling of goods & services. The trade segment of commerce brings together the manufacturer & the consumer, i.e. it is a link between the manufacturer & the consumer.

Trade can be classified into two types:

Internal trade: It refers to buying & selling of goods or services within the geographical boundaries of a country. It is also known as home trade or domestic trade. Under internal trade, goods & services are bought & sold in the home currency only. The internal trade can be two types:

Wholesale trade

Retail trade

External trade: When the buying & selling of goods & services is beyond the geographical limits of the country it is called external trade. It is also known as trade between two or more countries. In external trade, the market is very wide. External trade is of the following types:

Export trade

Import trade

Entrepot trade

Aids to Trade


Related Questions

describe two benefits you enjoy because of free market system

Answers

 (A) lower prices for goods and services.

(B) higher-quality goods and services for the consumer.

what are some sales channels for detailing cars (service)?​

Answers

Answer:

make me Brainlist

There are basically four types of marketing channels:

Direct selling;

Selling through intermediaries;

Dual distribution; and.

Reverse channels.

Nico has a net worth of $150,000. Nico sold all of his assets for cash and used that cash to pay off all debts and obligations. In theory, how much cash would remain with Nico

Answers

The cash that should remain with Nico is $150,000.

The following information should be considered:

Net worth represents the wealth of an individual & company.It shows a difference between the assets & liabilities.

Given that,

The net worth is $150,000.As the assets are sold for cash and used to pay off the debts.

Therefore we can conclude that the cash that should remain with Nico is $150,000.

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FINRA is a government agency with mandate to protect America's investors by making sure the securities industry operates fairly and honestly.

a. True
b. False

Answers

I believe the answer is true

Suppose the equilibrium price for bicycle tires is $42 but the market price falls to $37. Jerry is still able to make a profit at this lower price, so he stays in business. Anat, who was able to make a small profit by selling tires at $42, goes out of business as prices fall. Madison bought the tires at the higher price from Anat and is delighted to buy them at a lower price from Jerry. Marcus, who previously did not purchase tires, is willing to pay the lower price, so he buys new tires from Jerry. Which individual's situation contributes to a reduction in total surplus

Answers

Answer:

Anat's actions

Explanation:

Compared to the equilibrium price and quantity sold in a competitive market, a monopolist will charge a ________ price and sell a ________ quantity. Group of answer choices higher; smaller lower; smaller higher; larger lower; larger none of these options is correct.

Answers

Answer:

Will charge a higher price

Dell a smaller higher

Cynthia works as a salesperson at an apparel showroom. A week ago, she met a customer who stated that a particular dress was quite expensive and asked her whether a discount was available for the dress. Cynthia responded by saying, “I can get you a 10 percent discount on the dress. Would you like to pay by cash or card?” The customer made the purchase. Which closing technique did Cynthia use in this example? A. opinions count close B. assumptive close C. Ben Franklin close D. Sharp Angle close

Answers

Answer:

Assumptive close

Explanation:

Discount means cut off price

[tex]\boxed{\sf Discount=Sold\:Price-Cost\!Price}[/tex]

Or simply

[tex]\\ \sf\longmapsto Discount=S.P-C.P[/tex]

Observing the distribution of goods and services to competing groups and understanding how society chooses to employ resources in this process is the study of:_______.

Answers

Answer:

Observing the distribution of goods and services to competing groups and understanding how society chooses to employ resources in the process is the study of economics.

Explanation:

Economics is the investigation of how social orders utilize scant assets to create significant products and disperse them among various individuals.

The distribution of goods and services to competing groups and understanding how society chooses to employ resources in the process is the study of economics.

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how do you define entrepreneurship?

Answers

I literally have no idea …

Naomi plans on saving $3,000 a year and expects to earn an annual rate of 10.25 percent. How much will she have in her account at the end of 45 years

Answers

D. $2,333,572

To find the future value of annuity ordinary the formula is

Fv=pmt [(1+r)^(n)-1)÷r]

Fv future value?

PMT payment per year 3000

R interest rate 0.1025

N time 45 years

So

Fv=3,000×(((1+0.1025)^(45)−1) ÷(0.1025))=

$2,333,571.66

Good luck!

The marketing environment includes things such as demographic factors, economic factors, ecological factors, technology factors, political environment, and cultural environment.


True
False

Answers

This is true. Please give brainliest!

if the supply of a product decreases we would expect

Answers

Answer:

The supply wouldn't sell as good because they don't have the product

Explanation:

importance of having a business plan to ensure the success of a business​

Answers

Answer:

The importance of a business plan is to help plan out how you want a business to go and to also show how to get around or through obstacles.

what is the importance of salesmanship​

Answers

Answer:Salesman helps the consumers in making the right decision and proper selection of the products which they want to buy.

Explanation:

Answer:

A salesman educates and guides consumers. They help consumers make the right decisions and proper selection of the products they want to buy. Salesmanship increases the rate of turnover, hence reducing unsold stock.

What is the LinkedIn Outreach Strategy?

Answers

Answer:

Outreach on LinkedIn means reaching out to the best prospects. A LinkedIn outreach strategy involves different steps, LinkedIn automation tools (LinkedCamp), and tactics to reach out to prospects with a proper message so they convert easily.

A perfect LinkedIn outreach strategy includes the following steps:

1. Finding the right prospects

2. Sending personalized messages

3. Building relationships and trust

4. Pitching your product

Lauren was accepted at three different graduate schools, and she must choose one. Elite U costs $50,000 per year and did not offer Lauren any financial aid. Lauren values attending Elite U at $60,000 per year. State College costs $30,000 per year and offered Lauren an annual $10,000 scholarship. Lauren values attending State College at $40,000 per year. NoName U costs $20,000 per year and offered Lauren a full $20,000 annual scholarship. Lauren values attending NoName at $15,000 per year. Lauren's opportunity cost of attending State College is

Answers

The opportunity cost of attending state college is $20,000.

The computation is given below:

Surplus arise from Elite U:

= $60,000 - $50,000

= $10,000

Surplus arise from state college:

= $40,000 + $10,000 - $30,000

= $20,000

Surplus arise from no name:

= $15,000 + $20,000 - $20,000

= $15,000

So, the opportunity cost of attending state college is $20,000.

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Schoene Company reports its inventory at replacement cost. This is an application of the measurement attribute of: ________

Answers

Answer:

Current cost

Explanation:

The company's bank reconciliation at June 30 included interest earned in the amount of $150. Complete then by selecting the account names and dollar amounts from the drop-down menus. View transaction list Journal entry worksheet > < 1 The company's bank reconciliation at June 30 included interest earned in the amount of $150. Complete the necessary journal entry by selecting the account names and dollar amounts from the drop-down menus. Note: Enter debits before credits General Journal Debit Credit Dato June 01 Record entry Clear entry View general Journal

Answers

Answer:

0

Explanation:

you can use 150-150 because it's an amounts of$150

Answer:

$150 credit   and to find debt first you would enter all these values into your calculator by filling in original balance in replace of 0000.00 x 0.00 interest

000.000 x 0.00 interest

and enter percent in replacement  to the last zero if  0-9

and 2nd from last zero if 10 - 99 %

ie) 4%  is 0.04 for 4% debt

for credit 4$ is 1.04

Crane Company had these transactions during the current period.
June 12 Issued 79,500 shares of $1 par value common stock for cash of $298,125.
July 11 Issued 3,650 shares of $105 par value preferred stock for cash at $113 per share.
Nov. 28 Purchased 3,200 shares of treasury stock for $8,800.
Prepare the journal entries for the Crane Company transactions shown above.

Answers

Answer:

c

Explanation:

At an output level of 50 units per day a firm has average total costs of $60 and average variable costs of $35.
Its total fixed costs are:_______.
A. $925.
B. $1,250.
C. $1,750.
D. $3,000.

Answers

I believe it is C but not sure

Discuss the advantages and disadvantages of an optimized supply base. How can a buyer overcome the disadvantages?

Answers

Rationalization, a strategic initiative as well as methods to first decrease static or restricted-use providers begins to enable sustainable supply baseline optimization, which is termed as Supply base optimization.

Some advantages of an Optimized supply base are provided below:

Cost efficiency.Enhance output.Better Collaboration.Identify problem areas with ease.Prevention of delays.

Some advantages of an Optimized supply base are provided below:

Lack of Reliability.Complicated.Co-ordination vacuum between organizations.Trained and personalized personnel are required.Cost of execution.

A buyer can overcome the disadvantages by the following point:

Your Emergency Strategy is referred to.Creating open communication channels.Ensure the level of customer satisfaction.

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(5) Explain how the looting of shops and malls will affect businesses in terms of the relationship between social responsibility and Triple bottom line TION 2: HUMAN RIGHTS Read the scenario below and answer the questions that follow HAMELN CONSTRUCTIONS LIMITED (HCL) Hameln Constructions Limited is a large company that has hired many employees. HCL ensures that there is an open communication channel between senior management and employees. They also observe their employees right to participate in a legal strike 2.1.1 Identity TWO categories of rights that HCL promotes. Motivate your answer by quoting from the scenario above Use the table below as a GUIDE to answer QUESTION 211. CATEGORIES OF RIGHTS MOTIVATIONS 2 12 Suggest ONE other way in which HCL can deal with any of the category of rights​

Answers

Answer:

call BBC xffguohgucudogzjfuritkgkta ovmxfv

A necessary condition to use the equity method of reporting for an equity investment is that the investor company must
a. have the ability to exercise significant influence over the operating and financial policies of the investee.
b. own at least 30% of the investee's voting stock.
c. possess a controlling interest in the investee's voting stock.
d. not have the ability to exercise significant influence over the operating and financial policies of the investee.

Answers

The answer would be a. Have the ability to exercise significant influence over the operating and financial policies of the investee

need help with this question​

Answers

Answer:

Explanation:i cant seee iittt

Required information Skip to question [The following information applies to the questions displayed below.] Assume you are the president of High Power Corporation. At the end of the first year of operations (December 31), the following financial data for the company are available: Accounts Payable $ 32,800 Accounts Receivable 10,600 Cash 14,000 Common Stock 59,790 Dividends 2,020 Equipment 86,000 Notes Payable 1,550 Operating Expenses 59,100 Other Expenses 7,920 Sales Revenue 91,200 Supplies 5,700 Required: Prepare an income statement for the year ended December 31.

Answers

The net income for the year ended Dec 31 is $24,180.

The preparation of the income statement is presented below:

Sales revenue $91,200

Less: operating expenses $59,100

Operating income $32,100

Less: other expenses $7,920

Net income $24,180

Therefore we can conclude that the net income is of $24,180

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Your daughter will be going to college in three years. Tuition fees are estimated at
$30,000 million a year for four years, payable at the beginning of each year. To estimate whether you have set aside enough money, you ignore possible inflation in tuition payments and assume that you can earn 8 percent annually on your investments. Suppose you would like to have enough money to fund her 4-year education at the time she starts college, how much should you set aside now to cover these payments?

Answers

Answer:

107312.91 million

Explanation:

[tex]30000*(1.08)*(\frac{1-(1+.08)^{-4}}{.08})=107312.9096[/tex]

Which statement below best represents the technological environment of business?
a. Because service businesses employ approximately 86 percent of the nation's workforce, we now have a
service economy
O b. Every day, business owners must figure out what makes their business successful and how the goods and
services they provide are different from the competition.
O c. Many businesses are now using social media to provide customers with information about products and
services,
O d. Both small and large business firms reduced both spending and hiring new employees during the last
recession because of the nation's unstable economy.
e. There are many "potential customers in developing nations that will buy goods and services manufactured
by U.S. firms

Answers

Every day, business owners must figure out what makes their business successful and how the goods and services they provide are different from the competition.

The statement b is the correct one and best represents the technological environment of business, since a technological environment in organizations is one whose knowledge development generates creative innovations that improve a company's products and services.

Technology affects the operationalization as a whole, bringing more solutions and differentiation to a company, which is essential for companies to survive in the long term in a competitive and globalized environment.

So business owners must find out what makes their businesses successful and how products and the services they provide are different from those of the competition.

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A business traveler has to make a trip to New York. It will take an airline, car-
rental company, hotel, restaurants, and other services to conduct this trip. This
will require a large

Answers

Sum of money or a company credit card





The assets of Star Company are $170.000 and the total liabilities are $10,000. The equity is

Answers

160,000

Explanation:

160,000

When the time comes for a group of people eating together at a restaurant to pay their bill, sometimes they might agree to split the costs equally and other times will pay individually. If this decision were made in advance, would it affect what they order

Answers

Explanation:

When the time comes for a group of people eating together at a restaurant to pay their bill, sometimes they might agree to split the costs equally and other times will pay individually. If this decision were made in advance, would it affect what they order

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