NIOS| BUSINESS STUDIES (215)| SOLVED PAPER – APRIL - 2023| SECONDARY| ENGLISH MEDIUM
BUSINESS STUDIES
(215)
[APRIL - 2023]
Time: 3 Hours
Maximum Marks: 100
Note: (i) All questions are compulsory.
(ii) Marks
allotted for each question are indicated against it.
1. Which of the following activities is non-economic? 1
(A) Playing football with friends
(B) Teaching
in a school
(C) Working
in an office
(D) Selling
fruits and vegetables in the local market
2. LLP was enacted by the Parliament in the year - 1
(A) 2005
(B) 2006
(C) 2007
(D) 2008
3. Which principle of insurance ensures that the insured
does not become negligent about the safety of the subject matter after taking
an insurance policy? 1
(A)
Subrogation
(B)
Contribution
(C) Mitigation
(D) Utmost
good faith
4. Which type of insurance covers the risk of loss on
account of fraud and dishonesty on the part of employees handling cash? 1
(A) Liability
insurance
(B) Property
insurance
(C) Burglary
insurance
(D) Fidelity insurance
5. Web design and content creation is a part of which
service? 1
(A) BPO
(B) KPO
(C) Retail
trade
(D) Wholesale
trade
6. Which middleman displays different types of goods in a
very systematic and attractive manner to final customers? 1
(A)
Manufacturer
(B) Wholesaler
(C) Retailer
(D) Agent
7. Wholesaler is an important link between - 1
(A) producer
and wholesaler
(B) retailer
and consumer
(C) producer
and consumer
(D) producer and retailer
8. Which of the following statements is ‘true’? 1
(A) Wash sales refer to sales of goods at a discount
after rainy season.
(B) Sale on
hire-purchase permits the buyer to return the goods at any stage.
(C) Goods
delivered to the buyer on approval basis are always paid for in advance.
(D) In
auction sale, goods are sold to the highest bidder even when there is a reserve
price.
9. Sometimes, consumers are carried away by
advertisements on TV. Which right can make the consumer conscious of such a
problem? 1
(A) Right to
choose
(B) Right to be heard
(C) Right to
be informed
(D) Right to
safety
10. Who can start a business? 1
(A) Very
highly educated person
(B) An
uneducated person
(C) Very rich
person
(D) All of the above
11. What do you mean by auxiliaries to trade? State any
two categories of it. 3
Ans:- Auxiliaries to trade refers to those factors
which are necessary to bring the goods from the place of their production to
the place of their consumption.
Business
supporting activities are activities that support a business. they include:
Transportation,
banking, insurance, storage, advertising, communication, packaging.
12. What are the activities undertaken by a consumers’
cooperative society? Give any one example of consumer cooperative society. 3
Ans:- A consumer co-operative society is a business
owned and managed by consumers. The goal of a consumer co-operative society is
to meet the needs of its members. Consumer cooperatives operate independently
of the state and focus on service rather than profit.
Consumer
Cooperative Societies:
(i) Establish
a store or outlet to sell goods
(ii) To ensure
regular supply of goods at reasonable rates
(iii)
Eliminate the middleman by purchasing products in large quantities from
wholesalers
13. What do you understand by Postal Life Insurance? 3
Ans:- Postal Life Insurance (PLI) is an insurance
scheme offered by the Government of India. It was established in 1884 by the
Department of Posts, Ministry of Communications. This plan is designed to
provide financial support to the family of the policyholder in the event of his
death.
14. This type of card issued by banks, allows customers
to access their funds immediately, electronically. Identify and explain its
features. 3
Ans:- A debit card is a card that allows the
cardholder to access his or her bank account electronically. Debit card is also
known as check card or bank card.
Debit cards
can be used for:
(i) Getting
cash from ATM
(ii) buy goods
or services
(iii) Withdrawal
and deposit of money from bank account
(iv) Deduct
payment directly from the account
15. What do you understand by wash sales? 3
Ans:- A wash sale is a transaction in which an
investor sells or trades a security at a loss and buys a "substantially
identical" security 30 days before or 30 days after the sale. This is a
rule enacted by the Internal Revenue Service (IRS) to prevent investors from
using capital losses to their advantage at tax time.
16. What do you understand by extractive industry? Give
any two examples of it. 4
Ans:- Extractive industry can be defined as a process
that involves various activities that lead to the extraction, processing and
use by consumers of raw materials (such as oil, metals, minerals and
aggregates) from the Earth.
Extractive
industries are businesses that take raw materials from the Earth, including
oil, coal, gold, iron, copper, and other minerals. Industrial processes for
extracting minerals include drilling and pumping, quarrying, and mining.
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