What are the functions of commerce?

5

(a)

Differentiate between insurable risks and non-insurable risks.

5

(a)

Explain the characteristics of business.

5

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Explain with examples the various types of industries.

5

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Explain the concept of business risk and its causes.

5

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What factors are important to be considered while starting a business? Explain.

5

(a)

Define Profession. Discuss its salient features.

5

(a)

"No business is risk free." Do you agree? Justify your answer, mentioning the nature and causes of business risk.

5

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"Risk is the element which makes the business different from other economic activities." Do you agree? Justify your answer.

5

(a)

"Economic and non-economic activities don't substitute, but complementary to each other." Do you agree? Explain.

5

(a)