It provides 24 hours, 365 days a year service to the consumers. (c) Central Warehousing Corporation (d) Central Water Corporation (d) It removes time gap between production and consumption and thereby creates time utility. The distinct characteristics of services are mentioned below: Question 2. 5,01,716 villages have a public telephone and 26000 post offices are connected through the network. (a) Automatic Tele Money (b) Any Time Money . For example, communication services, teaching services, legal services etc. II. The future of the Indian insurance sector looks bright. In which of the insurance policy loss cannot be measured? NCERT Solutions Class 11 Business StudiesBusiness Studies Sample Papers, I. (a) TRAI (b) SEBI (c) Tata sky (d) All of the above Some of these are: IV. -> Lack Of Homogeneity Or Inconsistency Services have to be performed each time according to the demands and expectation of each customer. Availability of banking facility at any time and anywhere increases satisfaction of the consumers. Question 8. (c) Indemnity contract (d) None of the above 1.4.3 e-Banking The growth of Internet and e-commerce is dramatically changing everyday life, with the world wide web and e-commerce transforming the world into a digit global village. 6. Question 7. Railways; 6. The service processes can be either manual or mechanized or both. Waterways; Intangibility: A service is not a physical product that you can touch or see. Question 1. After 5 years, she divorced her husband. It classifies services into 12 sectors which are as follows: Question 4. The sector which stood at a strong US$ 72 billion in 2012 has the potential to grow to US$ 280 billion by 2020. -> Social services : Are those services which are generally provided voluntarily in pursuit of certain goals. (a) 5. Accepting deposits; 2. It includes ATMs, credit cards, debit cards, mobile banking and internet banking. 3. (a) 13. Anju has taken a loan from Avi against the security of his factory. (a) Very Small Aperture Terminal (b) Vidyut Supply and Transport To which insurance, principle of indemnity is not applicable? Multiple Choice Questions Question 1. According to the marketing experts and management thinkers the concept of services is a wider one. (c) 4. While services currently account for over 60 percent of global production and employment, they represent no more than 20 percent of total trade (BOP basis). Question 2. Answer: Indian Post and Telegraph Department provides various postal services all over India. Answer: In my opinion, these services are complementary to each other and hence, they have their own importance. When more than one mode -of transport is used by a person for transportation then it can be described as a multi-model transport. Which of the services in your opinion are of utmost importance and why? It can be used at any place and at any time even while travelling. This—seemingly modest—share should not be underestimated, however. (a) EFT (b) Online banking The GATS schedule largely follows a classification. It is the principle of: (b) 7. Roadways; 4. activities that create value and provide benefits for customers at specific times and places as a result of bringing desired change. Question 10. Question 3. It is the principle of: -> Difference Between Goods And Services : -> Services: Are identifiable and intangible economic activities that provide satisfaction of human wants. Business Services – CBSE Notes for Class 11 Business Studies Nature And Types of Services Quick Review— -> Intangible Service are intangible i.e. (a) Transport companies (b) Banks Question 2. as per directions. (a) Utmost Good Faith (b) Contribution Question 3. Answer: Yes, she can claim because in life insurance insurable interest has to be present at the time of affecting the policy but need not be present at the time when the claim falls due. Explain the functions of commercial banks with an example of each. The resultant competition has provided the’ consumer with a never-before-seen range of products and providers, and also enhanced service levels markedly. Giving loans; Answer: No, she cannot. these cannot be seen or touched. (c) Rural Area Sportsmen (d) Urban Area Sportsmen Explain in detail the warehousing services. Sports insurance is not available for: (c). What is the difference between life, fire and marine insurance? 5. A service can be experienced by the buyer or the receiver. III. (c) Automatic Teller Machine (d) Automatic Transfer Money Question 4. (c) Fire Insurance (d) All of the above Some services may be provided differently be different service providers. voice telephony and postal services), and regulatory reforms in hitherto tightly regulated sectors such as transport. Banks pay insurance premium of their customers. They have long lasting effects on our society and economy. Answer: There are many types of insurance. Answers: NCERT Solutions for Class 6, 7, 8, 9, 10, 11 and 12. Explain warehousing and its functions. There are three types of services: Business Services, Social Services and Personal Services. Question 1. (d) 2. 1. Facilities of postal department are broadly divided into: Question 4. (c) Cellular companies (d) None of the above It provides speed post facility for over 1000 destinations in India. 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