NIOS Business Studies (215) Free Solved TMA Assignment 2021-2022

Business Studies 215 Free Solved TMA

You can make this TMA if you have to appear for the exam in April 2022 or October 2022, TMA for both the sessions is exactly same. This TMA we made for you by a good Economist teacher, if you write it well you will get 95+%

Question And Answer

1. Answer any one of the following questions in about 40-60 words.
(b) According to you, what is the meaning of economic activities. Give two examples of
economic activities. (See Lesson 1)

Ans: Economic Activities - The activities which are done for the purpose of earning money are called economic activities.

Example - (i) Farmer grows the crop by plowing the field and sells it and gives money.

(ii) The worker of the factory or office receives salary or wages in return for his work, the trader earns profit from the purchase and sale of goods. All these activities are economic.

2. Answer any one of the following questions in about 40-60 words.
(a) Describe how sole proprietorship facilitates better control in business. (See Lesson 3)

Ans: The owner has complete control over all activities of a sole proprietorship business. Along with making all the plans related to the business, he also maintains coordination in all its activities.

Because all rights of the business are with the owner, so it can control all the activities better

3. Answer any one of the following questions in about 40-60 words.
(b) How transport facilitates large - scale production at low costs? (See Lesson 5)

Ans: We know that mass production is not always possible at the location of our choice, as it requires huge infrastructure.

Especially of land, which is not easily available everywhere. But transportation easily makes manpower and necessary raw material available for manufacturing at the last selected place. Mass production leads to lower per unit cost.

4. Answer any one of the following questions in about 100-150 words.
(b) Distinguish between a Bonded and a Co-operative warehouse. (See Lesson 6)

AnsBonded Warehouses - These warehouses are owned and managed by the government or private agencies. A license from the government is required to operate private Bonded warehouses. Such warehouses store imported goods on which the importer has not been paid. Imported goods cannot be taken out of the importer port without paying the tax and are kept in these warehouses until the importer pays them. Such warehouses are usually set up around coasts by dock authorities.

Co-operative Warehouse - The ownership and control of such warehouses is in the hands of cooperative societies, in which the members of the societies are provided with the facility of storage at an economical rate.

5. Answer any one of the following questions in about 100 to 150 words.
(b) All types of ownership have some limitations and the sole proprietorship is no exception.
Discuss the various limitations of sole proprietorship. (See Lesson 3)

Ans: Following are the various limitations of sole proprietorship:
(i) Limited Capital: In a sole proprietorship business, only the owner invests the capital. It is often difficult for a person to invest more capital. The owner's own capital and the capital taken on loan are sometimes not enough to grow the business.

(ii) Unlimited Liabilities:- If the owner fails to meet the business obligations and repay the debt, then the personal property of the owner can also be used to meet these liabilities. So the owner is afraid of taking risks and he thinks very carefully about starting and expanding the business activities.

(iii) Lack of continuity: The existence of a sole proprietorship business organization is linked to the life of the owner. The business ends with the owner's illness, death, or bankruptcy. Thus the continuity of a sole proprietorship business remains uncertain.

(iv) Limited size:- It is difficult to expand the business beyond a limit in a sole proprietorship business organization. If the business will grow beyond a certain limit, it is not always possible for a single person to take care of it and manage it.

(v) Lack of management and expertise:- Individuals may not be proficient in all aspects of management but may be weak in marketing. Then it is not even possible to hire a professional manager in this business due to limited financial resources. Thus a sole proprietorship business does not get the benefit of professional management.

6. Prepare any one project out of the given below:
(b) Ankit is interested in running a business of light goods. He wants to supply goods to
different parts of the country. Suggest him the most suitable mode of transport mentioning
its advantages and limitations. (See Lesson 6) 

Ans: Air transport is the best way to supply goods to different parts of the country.

Advantages of Air Transport - It has the following advantages:
  1. It is the fastest mode of transport.
  2. It is the most useful means of transporting goods and passengers in places which cannot be reached by other means.
  3. It is the best mode of transport during natural calamities
  4. It has a significant contribution to national security.
  5. Helps in increasing the business of quick-witted growers.
  6. Reduces the pressure of rail transport and road transport.
  7. It was nationalized in 1953.
Limitations of Air Transport - It has the following limitations:
  1. It is the more expensive mode of transport.
  2. It is not suitable for carrying large quantities of goods.
  3. Bad weather has an adverse effect on it.
  4. It is not suitable for short-distance travel.
  5. There is heavy loss of property, property and life at the time of the accident.
  6. Bad weather adversely affects air transport
  7. Air transport incurs heavy expenditure on the purchase and maintenance of aircraft.
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