Ql(a) What is m&ant by bounded warehousc1

Answer- Bounded warehouse to stores imported

goods for which import duty is yet to be ,paid these

warehouses are generally owned by dock authorities

and found near the part .

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Q3(a) What is meant by globalization?

Answer- Globalization meon·s integrating the economic

of country with the world economy. This implies free
flow of goods and services# capitoL technology# and
labor across national boundaries to achieve these
objectives of gl'obalization, the government hos
adopted various measures such as reduction in custom
duties removal of quantitative restriction or quotas on
exports and imports, facUitoting foreign investment
and encouragement of foreign technology.
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Q4(b) Expla1in GftY four characteristics of joint Hindu
family Business.
Answer- It must have been clear to you that the joint
Hind'u family business. Has certain special
characteristics which are follow : -
1. Formation: - In JHF business there must ,b e at least
two member in the family, and family should have some
ancestral property. It is not created by on agreem~nt
but by operation of low .
2 . Legal : - The JHF business is jointly owned business.
It is Governed By the Hindu succession Act 1956.
3 . Me,mbe,r ship :- In JHF busines,s outsiders ore not
allowed to become the coparcener only the member of
undivided family acquire co-porcenership by birth.
4 . Profit shoring:- AU co•-porcenership have equal
share in the profit of the business . •
Q5(b) Explain any four types of Co-operative8 ugges
soc ted: worId's T
•
,op

Answers- So, according to the need of the peoplet we

f ind different types of co-operative societies in India .
~he important types are given below: -
1. Consumer·s co- operative societies : - These societies are
formed to protect the interest of making available
consumer goods of high quality at Reasonable price .
2 . Producer's co- operative societies :- These societies are
formed to protect the interest in small producers and
artisans by making available items of their need for
production like row materials , tool and equipment, etc .
3 . Mo~keting co- operative societies : - To solve the
problem of marketing the products of small producers join
1

hand to form co- operative societies .

4 . Housing co- operative societies : - To provide residential
houses to the members , housing co- operative societies are
formed. generally in urban areas . •
Q6(a) f Suggested: nios assignment TMA 2017-18 Senior Secondary (12th) ECONOM...
get infc,, '""'' • vn ...,vw, ..,,,,~·· I , ~ VI ""::I"-""•"'' • vn '"'~T
serve and categories them in private and public sector.

Answer- Pr ivate sector: -

1. The sections of a notion·s economy, which is under
the control of ,government whether it is central. State
or local, is known as Private sector.
2. Police, Army, Mining, Health, Manufacturing,
electricity, 1educotion, trans port, telecommunication,
1

agriculture, banking, insurance, etc.

3 . Job security, retirement benefits, allowances,
perquisites, etc.
4 . To serve the citizens of the country.
5. Public ,revenue like tQ)(, duty, penalty, etc .

• •
6. Concentrate on public welfare oc.t ivities .
7 . Private control of essential goods, imited the
inf lucncc of private monopoly.
8 . This sect,on of a nations economyf which owned
and controlled by private individuals or companies is
known as public section.
9. Issuing shares and debentures -or by toking
loan.
10. Good story salary package completive
environment incentiv~s etc.

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Public sector: -
1 . The sector, which is engaged in the activit ies of
providing govt. goods and services to the general
public sect,o r ~
2 . The enterprises, agenciu , ond bodi~s are fully
owned, controlled and run by the govt. or a local
govt . .
3. Raised by owner through loon, private sources and
public issues .
4 . Operates in all oreas with adequate on investment.
5 . Managed by owned and professional mcingers .
• •
6 Moximize social welfare and ensure balanced
economic development .
7 . Raised the govt . funds and sometimes through
public issue .
8 . Operates in bClSic and public utility sectors.
9 . Balanced regional development .
10. 8oost of the basic industries of on economy.

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