Commerce (English Medium) Class 12 - CBSE Important Questions for Business Studies

Statement - I: Capital market instruments are considered riskier both with respect to returns and principal repayment.

Statement - II: Capital market investment generally yields a higher return for investors.

Which of the following statements is incorrect?

Manuj bought a packet of chips from a local shopkeeper and found that the ingredients given on the label were not legible. He complained about it to the company. The company sent a written apology stating that they will make sure that existing packets are withdrawn from the market and new packets with legible labels are soon made available.

State the consumer right which Manuj exercised.

Suman bought a box of cheese of a reputed brand from a local shopkeeper. On opening the box she found a piece of stone in the cheese. She reported the matter to the shopkeeper who forwarded her complaint to the concerned company. Within a week the representative of the company visited Suman's residence with an apology and as a replacement offered her a new cheese pack with four other varieties of cheese as compensation for the inconvenience to her.

State the consumer right which Suman exercised.

What is meant by a 'consumer' as per the provisions of Consumer Protection Act, 1986?

Manvendra always went to a specific shop to buy all consumable and nonconsumable goods. In this shop variety of products of different brands were displayed nicely and the sales person available also gave good sales presentation if required. But this shop was quite far off from his residence. His friend Annant always wondered why Manvendra wastes so much time in going to that shop where as there were many big brand shops situated near his residence having consumable and non-consumable goods. Annant asked Manvendra the reason of going to that particular shop. Manvendra told that he was exercising one of his ‘Rights’ which he could not exercise in near-by big brand shops.

State the consumer’s right which Manvendra had exercised.

State any three directions which can be issued by the consumer court to the opposite party if it is satisfied about the genuineness of the complaint.

On Sonika's birthday her mother gave her a pair of gold earrings. After one month Sonika observed that the ear-rings are losing their shine. She checked the mark on the earrings and found that it was not a proper Hallmark and her mother had been cheated by the shopkeeper. So, she finds a complaint in the district forum which rejected it. Not satisfied by the decision of district forum, she was very much disturbed and after two months decided to appeal further.

Can Sonika appeal against the decision of the district forum? Give reason in support of your answer.

Himanshu purchased a new car from 'Galaxy Motors' for Rs 25 lakhs. He was offered free insurance for the first year and three free servicing to be availed after the car had covered 5,000 km, 10,000 km and 15,000 km respectively. When Himanshu took the car for the first free servicing, he was told that the car was not new and the first service had already been availed on this car. He felt cheated and filed a complaint in the State Commission. Being not satisfied with the decision of the State Commission, after two months he decided to file an appeal against it.

Can Himanshu appeal against the decision of the State Commission? Give reason in support of your answer

Pankaj purchased a car from ‘Abhishek Motors’ for < 50 lakhs. The company offered many attractive gifts to Pankaj like — free insurance for first two years, free pick-up and drop facilities for free servicing up to 20,000 km, etc. But after a few days, Pankaj noticed that the pick-up of the car was not good and there were some problems with the engine. The company serviced the car free of cost but even then Pankaj was not satisfied with its performance. ‘Abhishek Motors’ is not giving him the due response. So he filed a complaint in the State Commission but was not satisfied with its decision also. He was very much disturbed and after two months decided to appeal against it. Can Pankaj appeal against the decision of the State Commission ? Give reason in support of your answer.

How are consumer grievances redressed by the three-tier machinery under Consumer Protection Act, 1986? Explain.

Which of the following Will not be considered as consumers as per Consumer Protection Act, 2019?

Rajneesh purchased a 500 ml bottle of fruit juice for ₹ 60 in Ahmedabad from a local store. While consuming it, he found an insect floating in it. He sent a legal notice to the company immediately and decided to approach a Consumer Dispute Redressal Agency for a relief of ₹ 2 lakh.

1. Which Consumer Dispute Redressal Agency did Rajneesh approach, out of the three-tier machinery set up under Consumer Protection Act, 2019 for redressal?
2. If Rajneesh is not satisfied by the order of the above agency, where can he appeal against such order and within how many days?
3. State any two reliefs that can be granted to Rajneesh in the above.

Define Management.

Answer the following question.
Mita has a successful ice cream business at Bikaner, namely "Smart flavours' ice creams are utterly delicious. She makes ice creams from fresh milk and the same are available in a wide range of flavours and packs. She sets viable business objectives and works with the same in mind in order to ensure that the customers will come back for purchasing.
Having the first-mover advantage, her business was doing well. To earn higher profits, she started cutting costs. This would sometimes lead to delay in delivery and the ice cream was not reaching the market in time. Over a period of time, the demand for her ice cream declined and because of it, the competitors entered the market. She lost some of her market share to competitors.
At the beginning of the summer season, she got back to backorder for the supply of 4,000 ice cream packs of different flavors for special occasions. To ensure that the task was completed and orders delivered in time she hired additional workers. She was, thus able to produce and deliver the ice cream packs but at a high production cost. While completing activities and finishing the given task for achieving goals, Mita realized that she was ignoring one of the important aspects of management.
Identify the aspects of management that has been ignored by Mita. Also, explain the same with the help of an example.

Answer the following question.
Pratap Singh is the Chief Executive Officer of Nissar Enterprises. It is an automobile parts manufacturing company. The enterprise has a functional structure, in which jobs of similar nature have been grouped together as Production, Finance, Marketing, and Human Resource. Nissar Enterprises has its manufacturing unit at Manesar. The factory has been plagued with many problems for a long time which was in the knowledge of the Production Manager, Varun Sharma. The workers had internal differences. Time and again, there were misunderstandings between the management and the workers. Keeping the problems in mind, Varun Sharma appointed Siyaram Singh who had 14 years of experience of working with the actual workforce and passing on instructions of the middle management to the workers.
              Siyaram Singh met Varun Sharma to understand what the management wanted? Thereafter he met the workers and conveyed the ideas of management to them. He also promised the workers to convey their problems to the management. In this way, he cleared the misunderstanding between the management and the workers. He also sorted out internal differences and was able to unite the workers within a  month of his joining. His work was acknowledged by management and he was given a certificate of good performance along with a 10% increase in salary.

(i) Siyaram Singh performed some of the functions which are required to be performed at the position he is working at. State any five other functions Siyaram Singh is expected to perform.
(ii) Name the incentives provided to Siyaram Singh.

State the importance of principles of management.

Explain briefly discipline and scalar chain as principles of general management.

Explain briefly Remuneration of Employees and Scalar Chain as principles of general management.

Explain the following principle of management:

Scalar chain