Types of Business

Different business activities are carried on by the people generating incomes. On the basis of the nature of these business activities, the business can be classified into an industry, commerce and trade. This note has information about various types of business.

Summary

Different business activities are carried on by the people generating incomes. On the basis of the nature of these business activities, the business can be classified into an industry, commerce and trade. This note has information about various types of business.

Things to Remember

  • Industry refers to the act of producing raw materials and finished goods
  • Manufacturing industry is concerned with converting raw materials into final products. 
  • Commerce refers to the act of buying, selling and distributing of goods and services.
  • Trade is concerned with buying and selling of goods. It is the process of exchanging goods with money for mutual benefits of the buyer and seller. 
  • The act of buying goods in a larger quantity and selling them in a smaller quantity to a number of retailers is called wholesale trade.
  • The act of buying goods from the wholesaler in a large quantity and selling them in a smaller quantity of final consumers for their personal use is called retail trade.
  • Foreign trade is the act of buying and selling goods outside the boundary of the country.

MCQs

No MCQs found.

Subjective Questions

Q1:

Define luminous objects and non- luminous objects with three examples of each.


Type: Short Difficulty: Easy

Show/Hide Answer
Answer: <p>Those objects which emit or produce their own light is called luminous objects and those objects which does not emit or produce their own light is called non- luminous objects. Any three examples of lumonous objects are sun, star, firefly and non- luminous objects are rock, earth and clothes.</p>

Q2:

Define ray and beam of light.


Type: Short Difficulty: Easy

Show/Hide Answer
Answer: <p>A ray of light is a very narrow path of light represented by a line with an arrowhead. Beam of light is the collection of ray of light.</p>

Q3:

What are the laws of reflection of light?


Type: Short Difficulty: Easy

Show/Hide Answer
Answer: <p>The laws of reflection of light are as follows,</p> <ol><li>The incident ray, normal, and the reflected ray all lie in the same plane.</li> <li>The angle of incidence is equal to the angle of reflection.</li> </ol>

Q4:

Write any two uses of the kaleidoscope.


Type: Short Difficulty: Easy

Show/Hide Answer
Answer: <p>Any two uses of the kaleidoscope are as follows,</p> <ol><li>It is used in sub- marine navigation.</li> <li>It is used to see over the heads of a crowed.</li> </ol>

Q5:

Define incident ray reflected ray and normal.


Type: Short Difficulty: Easy

Show/Hide Answer
Answer: <ul><li>Incident ray: The ray of light falling on the surface from the source of light is called incident ray.</li> <li>Reflected ray: The ray that returns back from the surface is called reflected ray.</li> <li>Normal: A perpendicular drawn at the point where incident ray strikes on the surface of an object is called normal.</li> </ul>

Q6:

Define angle of incidence and angle of reflection.


Type: Short Difficulty: Easy

Show/Hide Answer
Answer: <ul><li>Angle of incidence: The angle between the incident ray and the normal is called angle of reflection.</li> <li>Angle of reflection: The angle between the reflected ray and the normal is called angle of reflection.</li> </ul>

Q7:

What is the regular reflection and irregular reflection?


Type: Short Difficulty: Easy

Show/Hide Answer
Answer: <p>When a beam of light falls on rough surfaces after reflection the incident rays travel in a different direction. This type of reflection is called irregular reflection.<br>When a beam of light falls on smooth or polished surface the beams reflects as a parallel beam. This type of reflection is called regular reflection.</p>

Q8:

What are the differences between regular and irregular reflection?   


Type: Long Difficulty: Easy

Show/Hide Answer
Answer: <p>The differences between regular and irregular reflection are given below,</p>
<table width="493">
<tbody>
<tr>
<td><strong>Regular reflection</strong></td>
<td><strong>Irregular reflection</strong></td>
</tr>
<tr>
<td>After reflection, the reflected rays are parallel.</td>
<td>After reflection, the reflected rays are not parallel.</td>
</tr>
<tr>
<td>It obeys the laws of reflection.</td>
<td>It does not obey the laws of reflection.</td>
</tr>
<tr>
<td>Reflecting surface is smooth.</td>
<td>Reflecting surface is rough.</td>
</tr>
</tbody>
</table>

Q9:

What are the differences between luminous objects and non- luminous objects?


Type: Long Difficulty: Easy

Show/Hide Answer
Answer: <p>The differences between luminous objects and non- luminous objects are given below,<br /><br /></p>
<table width="464">
<tbody>
<tr>
<td><strong>Luminous objects</strong></td>
<td><strong>Non- luminous objects</strong></td>
</tr>
<tr>
<td>Those objects which emittheir own light are called luminous objects.</td>
<td>Those objects which do not emit their own light are called non- luminous objects.</td>
</tr>
<tr>
<td>We can see luminous objects because the light coming from them directly enters into the eyes.</td>
<td>We can see non- luminous objects because they reflect the light coming from the source of light.</td>
</tr>
<tr>
<td>For example, sun and star are luminous objects.</td>
<td>For example, moon and earth are non- luminous objects.</td>
</tr>
</tbody>
</table>

Q10:

What are the differences between rays of light and beam of light?


Type: Long Difficulty: Easy

Show/Hide Answer
Answer: <p>The differences between ray of light and beam of light are as follows,</p>
<table width="535">
<tbody>
<tr>
<td><strong>Rays of light</strong></td>
<td><strong>Beam of light</strong></td>
</tr>
<tr>
<td>It is the narrow path of light represented by a line with an arrowhead.</td>
<td>It is the collection of several rays of light.</td>
</tr>
<tr>
<td>A ray has a zero width and it cannot be observed physically.</td>
<td>A beam has a finite width and it can be observed physically.</td>
</tr>
</tbody>
</table>

Q11:

What are the differences between  the angle of reflection and angle of incidence?


Type: Long Difficulty: Easy

Show/Hide Answer
Answer: <p>The differences between angle of reflection and angle of incidence are given below,</p>
<table width="551">
<tbody>
<tr>
<td>&nbsp;<strong>&nbsp;Angle of incidence</strong></td>
<td><strong>Angle of reflection</strong></td>
</tr>
<tr>
<td>The angle made by normal and the incident ray is called angle of incidence.</td>
<td>The angle made by normal and the reflected ray is called angle of reflection.</td>
</tr>
<tr>
<td>The angle of incidence is equal to the angle of reflection when the rays of light strike on the plane or smooth surface.</td>
<td>Angle of incidence is not equal to the angle of reflection when the rays of light strike on a rough surface.</td>
</tr>
</tbody>
</table>

Q12: Define light.
Type: Very_short Difficulty: Easy

Show/Hide Answer
Answer: Light is a form of energy which causes sensation of sight.

Q13: Write any two sources of light.
Type: Very_short Difficulty: Easy

Show/Hide Answer
Answer: Any two sources of light are sun and star.

Q14: What do you mean by luminous objects?
Type: Very_short Difficulty: Easy

Show/Hide Answer
Answer: Luminous objects are those objects which can emit their own light.

Q15: What do you mean by non- luminous objects?
Type: Very_short Difficulty: Easy

Show/Hide Answer
Answer: Non- lunminous objects are those objects which cannot emit their own light.

Q16: What is the speed of light in vacuum?
Type: Very_short Difficulty: Easy

Show/Hide Answer
Answer: The speed of light in vacuum is about 3 lakh killometers per second.

Q17: Define ray.
Type: Very_short Difficulty: Easy

Show/Hide Answer
Answer: A ray of light is a very narrow path of light represented by a line with an arrowhead.

Q18: What is beam?
Type: Very_short Difficulty: Easy

Show/Hide Answer
Answer: A beam of light is the collection of several rays of light.

Q19: What is reflection of light?
Type: Very_short Difficulty: Easy

Show/Hide Answer
Answer: The phenomenon of returning of the light to the same medium after striking a surface is called reflection of light.

Q20: What is periscope?
Type: Very_short Difficulty: Easy

Show/Hide Answer
Answer: It is a simple device based on the principle of reflection of light at the two parallel plane mirrors producing multiple reflections.

Q21: Write any one use of periscope.
Type: Very_short Difficulty: Easy

Show/Hide Answer
Answer: It is used to see the movement of ships over the surface of the sea from a submarinesubmerged under water.

Q22: What is the point of incidence?
Type: Very_short Difficulty: Easy

Show/Hide Answer
Answer: The point of incidence is a point at which a ray of light hits the surface.

Q23: What is incident ray?
Type: Very_short Difficulty: Easy

Show/Hide Answer
Answer: The ray of that comes from the sources of light and strikes the surface is called incident ray.

Q24: What is normal?
Type: Very_short Difficulty: Easy

Show/Hide Answer
Answer: It is the perpendicular drawn on the surface at the point of incidence .

Q25: What is reflected ray?
Type: Very_short Difficulty: Easy

Show/Hide Answer
Answer: It is the ray of light which gets reflected after striking a surface.

Q26: Write any three examples of luminous objects.
Type: Very_short Difficulty: Easy

Show/Hide Answer
Answer: Any three examples of luminous objects are sun, star and firefly.

Q27: Write any three examples of non- luminous objects.
Type: Very_short Difficulty: Easy

Show/Hide Answer
Answer: Any three examples of non- luminous objects are earth, moon and stones.

Q28: Write two types of reflections.
Type: Very_short Difficulty: Easy

Show/Hide Answer
Answer: The two types of reflections are regular reflection and irregular reflection.

Q29: What is angle of incident?
Type: Very_short Difficulty: Easy

Show/Hide Answer
Answer: The angle between the incident ray and the normal is called angle of incidence.

Q30: What is angle of reflection?
Type: Very_short Difficulty: Easy

Show/Hide Answer
Answer: The angle between the reflected ray and the normal is called the angle of reflection.

Q31:

What is regular reflection of light ?


Type: Very_short Difficulty: Easy

Show/Hide Answer
Answer: <p>When a parallel beam of light strikes a smooth surface, the reflected rays also appear parallel to each other, such type of reflection is called regular reflection.</p>

Q32:

What is irregular reflection of light?


Type: Very_short Difficulty: Easy

Show/Hide Answer
Answer: <p>When a parallel beam of light strikes a rough surface, the reflected rays don't appear parallel to each other, such type of reflection is called regular reflection.</p>

Q33:

Sun is called a luminous object, why?


Type: Short Difficulty: Easy

Show/Hide Answer
Answer: <p>Luminous objects are those objects which emit their own light. Since, the sun emit its own light, so the sun is a luminous object</p>

Q34:

Earth is called non- luminous object, why?


Type: Short Difficulty: Easy

Show/Hide Answer
Answer: <p>Non- luminous objects are those object which does not emit their own light.Since earth does not emitits own light so, the earth is a non- luminous object.</p>

Q35:

In which type of reflection, angle of incidence is not equal to the angle of reflection?


Type: Short Difficulty: Easy

Show/Hide Answer
Answer: <p>Angle of incidence is not equal to the angle of reflection when the type of reflection is irregular. Irregular reflection is a type of reflection in which the incident rays are parallel to eachother but reflected rays are not parallel to eachother.</p>

Q36:

Reflection of light from the plane mirror is the regular reflection of light, why?


Type: Short Difficulty: Easy

Show/Hide Answer
Answer: <p>When a parallel beam of light hits a smooth surface, the reflected rays are also parallel to each other. Such type of reflection is called regular reflection. Since the mirror is a smooth surface and when the incident rays strike the plane mirror that are parallel to eachother, the reflected rays also appear parallel to eachother. So, reflection from the plane mirror is a regular reflection.</p>

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Light
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Types of Business

Types of Business

Different business activities are carried on by the people generating incomes. On the basis of the nature of these business activities, the business can be classified as follows:

Industry

Industry refers to the act of producing raw materials and finished goods. It is the process of converting raw materials into finished goods. It is the activity relating to extraction, reproduction, manufacturing and construction of products. On the basis of production, an industry can be classified as follows:

1. Primary industry: The Primary industry is concerned with extracting raw materials from the soil or beneath the surface of the earth and reproducing certain species of plants and animals. The final products of primary industry are used as raw materials by secondary industry. The primary industry can be divided as follows:

  1. Extractive industry: The Extractive industry is concerned with taking out products from beneath the surface of the earth, soil, water and air. Mining, agriculture, fishing, and lumbering are some of the examples of the extractive industry.
  2. Genetic industry: The Genetic industry is concerned with reproducing or multiplication of different species of plants and animals. Bee- keeping, poultry farming, cattle- breeding, nurseries and animal husbandry are some of the examples of manufacturing industry.

2. Secondary industry: The Secondary industry is concerned with converting raw materials into finished goods and constructing different assets. The final products of secondary industry can be directly consumed by final customers. The secondary industry can be divided as follows:

  1. Manufacturing industry: Manufacturing industry is concerned with converting raw materials into final products. The sugar industry, cement factory, soap industry, are the some of the examples of manufacturing industry.
  2. Construction industry: Construction industry is concerned with conducting a construction work at a particular site. Construction of buildings, roads, bridges, canals and dams are some of the examples of the construction industry.

Commerce

Commerce refers to the act of buying, selling and distributing of goods and services. It is the process of connecting the producer of goods with their final consumers. It is the activity related to buying, insurance, transportation, warehousing and communication. It can be divided into two classes as follows:

Trade

Trade is concerned with buying and selling of goods. It is the process of exchanging goods with money for mutual benefits of the buyer and seller. It is the act of transferring the ownership of goods from the seller to the buyer. It can be classified as follows:

1. Home trade

Home trade is the act of buying and selling goods within the boundary of the country. It can be classified as following:

  • Wholesale trade: The act of buying goods in a larger quantity and selling them in a smaller quantity to a number of retailers is called wholesale trade. It is the connecting link between producer and retailer. The person who involves in wholesale trade is called wholesaler who acts as a middleman between producer and retailer.
  • Retail trade: The act of buying goods from the wholesaler in a large quantity and selling them in a smaller quantity of final consumers for their personal use is called retail trade. It is the connecting link between the wholesaler and final consumers. The person who involves in retail trade is known as a retailer who acts as a middleman between the wholesaler and the final consumers.

2. Foreign trade

Foreign trade is the act of buying and selling goods outside the boundary of the country. It is carried on between the citizens of two or more countries. The payment of goods in foreign trade is made in foreign currencies. It can be classified as follows:

  • Import trade: The act of buying goods from a foreign country is called import trade. The person who involves in import trade is known as an importer.
  • Export trade: The act of selling goods to a foreign country is known as the export trade. The person who involves in export trade is known as an exporter.
  • Entrepot trade: The act of buying goods from foreign countries and selling them to another foreign country is called Entrepot trade.

Aids to trade

In the process of distributing goods to different markets, the seller has to face a number of problems. These problems are related to finance, insurance, transportation, warehousing, and communication. To remove such problems and facilitate for distribution of goods and services, certain organization are established. This organization do not involve in production and distribution of goods but facilitate the distribution of goods and services, certain organizations are established. These organizations does not involve in production and distribution of goods and services. These organizations assists or support in the process of buying and selling to make the distribution effective. Hence, aid to trade refers to the facilities provided by different organizations to remove the problems of distributions. Banking, insurance, transportation, communication, etc. are the examples of aid to trade which facilitate the effective distribution of goods and services.

Lesson

Business

Subject

Accountancy

Grade

Grade 9

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