Explore topic-wise InterviewSolutions in Current Affairs.

Chikkadevaraya implemented many pro -people measures. 

• He opened ‘Attara Kacheri’ with eighteen departments. 
• He built a dam across the western stream of River cauvery near Srirangapatna and provided irrigation facility. 
• He introduced thrift in his administration and enriched the treasury and was confred with ‘Navakoti Narayana’ title.

• Tippu Was aware of the latest achievements in science and technology. He had a very good library. 
• He built Bengaluru palace and summer palace in Srirangapatna. (DariyaDoulath) 
• The walls, pillars and the roof of the summer palace are painted with paintings depicting historical incidents. 
• He popularized sericulture in the state. 
• He modernized his army with the help of French. He moulded guns in Srirangapatna. 
• Mastering the technique of launching rockets was his uniqueness. 
• Tippu sanctioned grants to many Hindu temples and he gave gifts to Shringeri Math. 
• The tomb of Hyder Ali and the Jumma Masjid were great constructions finished by Tippu. The Minarets of the Masjid are known for their beauty. 
• He established royal mints at Srirangapatna and Mysuru.

Hyder Ali was aware of contemporary 

• Through he was an illeterate, he knew many languages including Kannada. 
• He extended the kingdom Mysuru considerably. 
• He was a brave soldier and an efficient administrator. He has an important place in the history of Karnataka. 
• He established the beautiful Lalbagh garden in Bengaluru.

a) Krishnaraja Wodeyar III

• He reorganized the administration structure of Mysuru state. 
• The land revenue collection process was re-organised. 
• Judiciary and police department were established properly.

Marathas attacked Mysuru Kingdom. 

• The Britishers did not come to the aid of Hyder as per the Madras Treaty and remained neutral. 
• This enraged Hyder Ali and he invaded the British.

Vishveswaraiah had believed that education is the key to the progres of a country.

• He made primary education compulsory and gave importance to technical education. 
• He established an agricultural school at Hebbal, Bengaluru. 
• The University of Mysuru was established in the year 1916. 
• Kannada Sahitya Parishad was established in the year 1915.

Correct Answer is: c) Madras

He established various industries as per the wish of Nalvadi Krishnaraja Wodeyar. 

• Hindustan Aeronautics Limited, Glass industry, Porcelein factory, Fertilizer industry at Belagola, Sugar Factory at Mandya, Matchstick factory at Shivamogga and Iron and Steel factory at Bhadravathi. 
• An airport was established at Jakkur. 
• Radio stations were started in Bengaluru and Mysuru. 
• He also encouraged rural industries. A Khadi production centre was established at Badanavalu near Mysuru. 
• Irrigation facilty was given to Mandya district by constructing Irwin canal. 
• The Brindavan Gardens was established in front of the Krishnaraja Sagar Dam.

National Insitute of Mental Health and Surgery (NIMHANS) in Bengaluru, Narasimharaja Hospital in Kolar, McGaan Hospital in Shimoga, Vanivilas Hospital in Mysuru were started during his time.

All human economic activities related with the production and distribution of goods and services, aimed at earning profit is called business.

(c) Business is a part of Industry.

Any activity or service made available by a qualified and trained person using his specific knowledge or skill in return for the amount of fees is called profession.

Import trade mean’s buying goods from a foreign country for domestic use. 

Example. India imports petroleum products from Gulf Countries.

(b) Sale and purchase of goods

Retail trade deals with the distribution of goods in small quantities to the consumers.

“Purchase of goods in bulk from the manufacturers and selling them in smaller quantities to other intermediaries” is known wholesale trade.

Transportation activity can remove the obstacle of distance.

(d) Production and Distribution of both goods and services

Export trade means the sale of domestic goods to foreign countries. Export trade is necessary to sell domestic surplus goods, to make better utilization of resources, to earn foreign exchange, to increase national income, to generate employment and to increase Government revenue.

Entrepot tiade means importing of goods from one country and exporting the same to foreign countries. It is also known as ‘Re – export trade’.

Insurance activity removes the obstacle of risk.

The facility of sending mail on the Computer network is known as Electronic-mail (Email).

The types of economic activities are: 

1. Profession. 

2. Business. 

3. Service/Employment.

On the basis of geographical location of buyers and sellers, trade can be broadly classified into two categories (i) Internal trade and (ii) External trade

Two examples of non-economic activities: 

1. Cooking food for family members. 

2. Going to temple for prayer.

Classification of human activities: 

1. Non-economic activities: e.g. cooking food for the family. 

2. Economic activities: Teaching by a teacher in the school.

Commerce includes the main activity of distribution of goods and services besides the auxiliary activities like transportation, warehousing, insurance, communication, bank and many other financial institutions.

1. Indian diamond merchants in Surat import uncut raw diamonds from South Africa. They cut and polish the diamonds in their units in India and re – export them to the International Diamond Market in Amsterdam. 

2. Singapore, Dubai, Hongkong are the largest entrepot trade centres in the world.

(b) Indian traders brought with them gold and gold coins after selling their goods in foreign lands.

It is the customer (client) who is entitled to write a cheque.

Four characteristics of Business are: 

1. Human Economic activities. 

2. Transaction of goods and services. 

3. Production and distribution. 

4. Continuity in business transactions.

(c) in life insurance

Vikram of India sells cotton shirts to Amal of England. So he is engaged in Export trade. Export trade means the sale of domestic goods to foreign countries.

The current account is the most suitable account for the business man.

Economic activities are concerned with the production and distribution of goods and services and their objective is to earn money. Non-economic activities are concerned with the fulfillment of physical needs, religious duties, feelings of affection, love and social needs. They are not concerned with any direct economic benefit.

The purchase of goods from a foreign country is called Import.

This is Import trade because Mr. Vikram procures (purchases) cotton from Germany Import means buying of goods from a foreign country for domestic use.

Correct Answer is: (d) Railways

27 commercial banks including State Bank of India are engaged in public sector.

(c) Receive deposits & giving loan

The main characteristics of commerce are: 

1. Commerce acts as a link between the producer and the consumer. 

2. Commerce creates time, place and authority utility. 

3. Commerce removes obstacles from the way of distribution and makes exchange of goods easier. 

4. Commerce is a part of business. 

5. Commerce includes trade and auxiliary activities of trade.

The cheque is an unconditional order to the bank to pay certain amount to certain person ordered (specified) or to self or to the bearer of the document on demand. According to the Indian Negotiable Instrument Act, 1981 (Section 6) A, ‘Cheque is a bill of exchange drawn on a specified bank and not expressed to be payable otherwise on demand.

Essential Characteristics of a Cheque: 

1. It is always a written order, never an oral one. 

2. It is written by the customer only to his bank. 

3. It is unconditional, i.e. there is no condition in cheque. 

4. A fixed amount written on the cheque is paid by the bank. 

5. The man whose name is written or is ordered by the customer is entitled to get the payment. Sometimes the bearer of the cheque also gets the payment of a cheque. 

6. The payment of cheque is made only on demand. There is no fixed date for payment. 

7. Customer’s signature on the cheque is necessary and it must tally with his specimen signature in the bank record. 

8. The cheque must bear the account number and date. 

9. The cheque printed on the prescribed form only should be used. These are the essential features of a cheque.

Service field: It can be divided in three parts: 

(a) Commercial Services:

Banking, insurance, transport, communication and technology. 

(b) Social services:

These activities are done willingly to achieve some social objectives. Such asupliftment of weaker section of the society, programmes of cleanliness and health, Hygiene in slum areas. Normally these activities are done with social organizations willingly as social service, i.e. without taking any value of such activities in the terms of money. Sometimes a charge is levied to cover the cost. 

Example, N.G.O and Governmental agencies-Provide services related to health, education and Cleanliness.

(c) Individual Services: Present time is an era of tough competition or in other word one who is capable can survive. These are those services which can be felt by different consumers or customers in different ways. There is lack of uniformity in them. Beside it depends upon linking and need of customers.

Example-Tourism, restaurants and entertainment services etc.

A. Import Trade: Import trade means buying goods from a foreign country for domestic use. Example. India imports petroleum products from Gulf Countries. India imports machinery, equipment, materials etc. It is necessary to speed-up industrialization, to meet consumer demands and to improve standard of living.

B. Export Trade: Export trade means the sale of domestic goods to foreign countries.

Examples:

1. Export of Iron ore from India to Japan

2. Selling of Tea from India to England. 

3. Export of jasmine flowers from Madurai to Singapore

Export trade is necessary to sell domestic surplus goods, to make better utilization of resources, to earn foreign exchange, to increase national income, to generate employment and to increase Government revenue

C. Entrepot Trade: Entrepot trade means importing of goods from one country and exporting the same to foreign countries. lt is also known as “Re – export trade’.

Example Indian diamond merchants in Surat import uncut raw diamonds from South Africa. They cut and polish the diamonds in their units in India and re – export them to the International Diamond Market in Amsterdam.

(a) Saving bank account

(c) Utmost good faith

Main characteristics of trade are: 

1. Trade involves purchasing and selling of goods. 

2. The aim of trade is the mutual interest of the buyer and the seller. 

3. Sale of goods can be direct or through mediators. 

4. Through trade authority utility is created. 

5. Trade is part of commerce.

Communication: Means of Communication can be grouped as 

1. Postal services 

2. Means of speedy communications.

(a) Postal Services provided by the post office.

1. For Sending Message: 

1. Post Card: Cheapest mode available for short message. 

2. Printed Post card: Business organizations get them printed but must be affixed with stamp. 

3. Inland Letter for detailed message. 

4. Envelope: It is for detailed message to be written on separate sheets. Also speed post facility available for fast delivery of post. Self printed letters can be used by individuals and business organization, facility of registered letters also for legal, important and commercial documents.

2. For Sending Articles: Costly but light weight articles up to 20 kg by parcel- registered or unregistered. For valuable articles also facility of Insurance at extra charges. Book post facility to send magazines, books, sample packet, book patterns at concessional rate.

3. For sending money through postal order, money order and insured letters.

(b) Means of Speedy Communication

1. Speed Post helps in fast delivery of letters. 

2. Telephone: Facility to talk, charges as per duration of talk. 

3. Telex: Printed message is sent, useful mainly for newspapers, business organisations etc. 

4. Fax: Transmission of written, printed or pictured message, within a few seconds. 

5. Internet: Internet a network of computers of the world, interconnected to each other. One can send or receive a message, see or talk to the internet connected place. 

6. E-mail: Facility to send message from one computer to any other computer anywhere in the world. This is called Electronic mail. 

7. E- Commerce i.e. trading through Internet. 

8. Video-conferencing- i.e. communication facility between two or more persons at distant places. 

9. Computer-Information Technology.

1. C.D. ROM: In this informations can be stored. No changes can be done in it. C.D can be copies, print, even more than one C.D can be read together. 

2. Multi Media: Means informations can be sent by different methods. Former multi médias were- Printing, Radio, Telegraph, Television, etc. but in modern time Multi media are- Television, Satellite, Tape-recorder, VCD, CD and Disk. 

Multimedia in fact combinedly use of reading material, pictures, video, audio, animation. By this user can contact with each other and can create something new.

Retail trade deals with the distribution of goods in small quantities to the consumers.