Class 11 Business Studies Important Chapter 4 Business Services

Class 11 Business Studies Important Chapter 4 Business Services Solutions English Medium As Per AHSEC New Syllabus to each chapter is provided in the list so that you can easily browse through different chapters ASSEB Class 11 Business Studies Important Solutions and select need one. AHSEC Class 11 Business Studies Additional Notes English Medium Download PDF. HS 1st Year Business Studies Important Solutions in English.

Class 11 Business Studies Important Chapter 4 Business Services

Also, you can read the NCERT book online in these sections Solutions by Expert Teachers as per Central Board of Secondary Education (CBSE) Book guidelines. ASSEB Class 11 Business Studies Additional Question Answer are part of All Subject Solutions. Here we have given HS 1st Year Business Studies Important Notes in English for All Chapters, You can practice these here.

Business Services

Chapter: 4

Part – I: Foundations of Business

IMPORTANT QUESTION AND ANSWER

Short Type Question and Answer:

1. Differentiate between banking and e-banking.

Ans: Banking refers to traditional services provided by banks through physical branches, such as accepting deposits, lending money, and issuing cheques. E-banking, on the other hand, is the provision of banking services electronically through the internet, mobile apps, and ATMs, enabling 24/7 access without visiting branches.

2. How do insurance services help in promoting business activities?

Ans: Insurance services protect businesses from potential risks like fire, theft, accidents, or marine losses. By transferring risk to insurance companies, businesses can operate confidently and focus on growth without fear of financial setbacks.

3. State two reasons why services cannot be stored.

Ans: (i) Services are intangible and experiential, not physical products.

(ii) They are produced and consumed simultaneously, making storage impossible.

4. Explain the role of transport services in expanding a business market.

Ans: Transport services help businesses distribute products to distant markets, thereby expanding their customer base and improving accessibility of goods across different geographical regions.

5. Why is customer involvement considered a feature of services?

Ans: In service delivery, customers often participate directly, such as providing preferences, interacting during service, or being physically present, which affects the final service outcome.

6. What do you mean by business risk? How does insurance help in risk management?

Ans: Business risk refers to uncertainties like accidents, theft, or fire that can cause financial losses. Insurance helps manage such risks by compensating for losses, thereby reducing financial burden on businesses.

7. List any two value-added services provided by modern warehouses.

Ans: (i) Labelling and packaging of goods.

(ii) Grading and re-bundling of bulk products for sale.

8. Why is intangibility a challenge for service marketers?

Ans: Services being intangible cannot be displayed or tested before purchase, making it difficult for marketers to convince customers of quality and benefits.

9. What is the significance of bonded warehouses for importers?

Ans: Bonded warehouses allow importers to store goods before paying customs duties. This helps manage cash flow and reduces immediate financial pressure on importers.

10. Explain why personal services vary from customer to customer.

Ans: Personal services are customized according to individual preferences and expectations, such as in tourism or restaurants, leading to variation in service delivery and experience.

11. Give two benefits of e-banking to banks.

Ans: (i) Reduced workload in branches.

(ii) Competitive advantage.

12. What do you mean by proximate cause?

Ans: The immediate and effective cause leading to the loss in insurance claims.

13. Name two types of life insurance policies.

Ans: (i) Whole life policy.

(ii) Endowment policy.

14. What is subrogation?

Ans: The insurer’s right to recover the loss amount from the third party after compensating the insured.

15. What is media post?

Ans: A postal service used for corporate advertising via postcards, envelopes, and telegrams.