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Trade, industry and commerce

In our daily life, we see that people are attached in several activities. These activities can be divided into two parts economic and non-economic. Economic activities are related to production,...

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Characteristics or nature of business

Business is an essential part of economic activities. Business deals in goods and services to earn profit on a regular basis. On the basis of the above definition it can be concluded that business...

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Trade, industry Characteristics of profession

Trade, industry and commerce part 4 A profession is a specialized occupation. It is related to a specified knowledge and training about the related field. The examples of professional are doctors,...

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Trade, industry and commerce part 5

Employment is related to a contract between a person and an enterprises. When a person give services to an enterprises under a contract of employment then he gets wages or salary bonus and other...

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Functions of commerce

The important functions of commerce are as follows: Removing disturbance of person : it is not necessary that the producers and the consumers of good are always situated in the same area.

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Business organization

It has been discussed in the previous chapter that business provides an important source of earning the person who establishes business is know as businessman. Businessman introduces capital in...

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Merits of sole proprietorship

1 Easy Establishment : it is stated above that a sole proprietor can start the business with small amount of capital and few legal formalities.

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Demerits of sole Proprietorship

Demerits of sole Proprietorship The important demerits of sole proprietorship are as follows : 1 Limited sources : the sole proprietor has limited financial source. He is single person in...

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Partnership ,Partnership part 2

In a sole proprietorship business, only one man introduces capital, undertakes the risk involved in the business and controls the whole affairs of the business. Each person has his own limitations and...

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Merits of partnership business

it is a simple process. two or more person are included in partnership business.

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Characteristics of co operative society

The important characteristics of co operative society as follows 1 it is a voluntary association of individuals.

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Demerits,Company

1 co operative society has limited financial resources. 2 co operative society has inefficiency in operation of business activities. 3 Co operative society has lack of secrecy of their business...

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Characteristics of the company

1 Company is a voluntary association of person duly incorporated and registered under the law. 2 Company is regarded as an artificial person created by law hiving a separate existence of its own

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Merits of Company,Demerits of Company

The important merits of a company are as follows 1 A company has huge capital fund 2 The liability of the share holders are limited to the face value of share. 3 Company has a separate legal entity.

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Demerits of Company,Materials Management

1 The formation of company is not easy. 2 It works under rules and regulation formed by the government. The management of the company is in the hand of few shareholders. 4 Due to board of directors...

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Objectives of Material Management

The objects of material management are as follows 1 To maintain the inventory materials for the working capital. 2 To purchases materials at minimum price. 3 To establish good vendor customer...

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Importance of materials management

Materials management is an essential part of business. The growth of business depends on good materials management. Some importance of materials management are as follows:

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Materials purchasing

All business organizations required material for operate the business. They required supplies of materials from outsiders. Purchasing relates the act of exchanges of goods and services for money.

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Trade, industry and commerce

In our daily life, we see that people are attached in several activities. These activities can be divided into two parts economic and non-economic. Economic activities are related to production,...

View Article

Characteristics or nature of business

Business is an essential part of economic activities. Business deals in goods and services to earn profit on a regular basis. On the basis of the above definition it can be concluded that business...

View Article
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