2020-10-10
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Ex. 1.12.
1. Banking professions, company secretaryship, accountancy, mass communication, law, hotel management, industrial jobs, Public Service Commission at State level as well as national level.
2. Profession in commerce is the best profession for those who have liking for accountancy, numbers, business transactions, policies, management, cost related issues, etc.
Ex. 1.13.
You should have excellent communication skills, ability to work in a team, leadership qualities, logical thinking, ability to work for long hours during the day, great computing skills, and ability to take the right decisions at the right time, enough flexibility and willingness to learn about new things now and then.
Ex. 1.15.
1. Informal/Spoken
2. Formal/Written
Ex. 1.16.
1. Commerce includes all the activities that help in facilitating the exchange of goods and services from the manufacturer or the producer to the ultimate consumers.
2. Once the products are manufactured these cannot reach directly to the customer, the same has to pass through a series of activities.
3. First, the wholesaler will purchase the product, and with the use of transportation, the goods will be made available to the stores.
4. The retailer will then sell to the ultimate consumer.
5. In short, it can be said that commerce is the branch of business that helps to overcome all the hindrances that arise in the facilitation of exchange.
6. Its major function is to satisfy human wants both basic and secondary by making the goods available to different parts of the country.
Ex. 2.3.
I; 2-D; 3-I; 4-I; 5-D; 6-I; 7-D.
Ex. 2.6.
1- manufacturer; 2- intermediary; 3- customer; 4- manufacturer; 5- retailer; 6- customer; 7- manufacturer; 8- customer; 9- manufacturer; 10- manufacturer; 11- wholesaler; 12- retailer; 13- customer; 14- manufacturer; 15- manufacturer; 16- agent; 17- wholesaler; 18- retailer; 19- customer; 20- agent; 21- wholesaler; 22- retailer; 23- agent.
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Ex. 2.7.
| Verb | Concrete Noun | Abstract Noun | |
| Assist | Assistant | Assistance | |
| Buy | Buyer | Buying | |
| Consume | Consumer | Consumption | |
| Distribute | Distributor | Distribution | |
| Mediate | Mediator | Mediation | |
| Package | Package | Packaging | |
| Produce | Producer | Product | Production |
| Retail | Retailer | Retail | |
| Sell | Salesperson | Sale | |
| Wholesale | Wholesaler | Wholesale | |
Ex. 2.8.
Of; 2- to; 3- in; 4- from; 5- to; 6- through; 7- for; 8- __; 9- to; 10- from; 11- from; 12- __; 13- to; 14- to; 15- throughout; 16- by; 17- from; 19- __; 20- by; 21- through; 22- like; 23- between; 24- of; 25- on; 26- on; 27- __; 28- as; 29- __; 30- of; 31- along; 32- from; 33- to.
Ex. 2.9.
| DIRECT CHANNELS | INDIRECT CHANNELS | ||
| 1 level channel | 2 level channel | 3 level channel | |
| Door to door selling Internet selling Mail order selling Company owned retail outlets Telemarketing | Selling cars through company approved retailers | Distributing goods like soap, rice, wheat, clothes, etc. | Dealing with limited products, yet desiring to cover a wide market |
Ex. 2.10.
uses; to reach; is said; to be using; open; to sell; use; to attract; sold; is.
has revolutionized; deliver; use; provide; to deliver; has also resulted; are distributed.
Ex. 2.15.
1. Distributing physical products-cars, food, utilities, etc.- through direct sales until the mid-20th century.
2.Distributing virtual products- insurance, stocks and bonds, enterprise softwares, shrinkwrap software- through physical channels but they didn't exist in the real world until the mid-1990s.
3.With the emergence of the Internet we distribute physical products through a virtual channel.
4. Since the beginning of the 21st century we have had products that don't exist at all-Facebook, Twitter, Google- distributed via the web.
Ex. 2.16.
1. Direct and indirect.
2. To get good results and generate business, you need to: 1. Create a database of email addresses. 2.Prepare the email content well and then send it. 3.Follow up and track.4. Never use mass mail advertising without the customer's consent to receive such information.
3. The techniques are directed at specific market niches. The most usual techniques are: 1. Publishing of expert content. 2. Sending newsletters. 3. Creating a blog. 4. Bluejacking: promotional messages via Bluetooth to PCs and mobile. 5. Active participation in Forums "Mobile marketing". 6. Marketing through portable devices.
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7. Sending SMS or MMS messages for specific promotional campaigns. 8. Advertising on mobile Apps.
Ex. 2.18.
Hence; 2- But; 3- Or; 4- Thus; 5- However, therefore; 6- Consequently; 7- As a result; 8- Conversely; 9- But; 10- In spite of.
Ex. 3.4.
W; 2-R; 3-W; 4-R; 5-R; 6, 7-W; 8, 9, 10, 11, 12, 13, 14, 15- R; 16-W; 17, 18-R; 19-W; 20-R; 21-W; 22-R; 23-W; 24-R; 25-W; 26, 27, 28-R; 29-W; 30, 31, 32-R.
Ex. 3.6.
| 1. To attract | customers |
| 2. To choose | a brand |
| 3. To create | a link |
| 4. To give | emphasis |
| 5. To grab | attention |
| 6. To manufacture | goods |
| 7. To offer | a discount |
| 8. To place | an order |
| 9. To provide | delivery |
| 10. To start | a business |
Ex. 3.7.
| (a) Collection of goods: | A wholesaler collects goods from manufacturers or producers in large quantities. |
| (b) Storage of goods: | A wholesaler collects the goods and stores them safely in warehouses, till they are sold out. Perishable goods like fruits, vegetables, etc. are stored in cold storage. |
| (c) Distribution: | A wholesaler sells goods to different retailers. In this way, he also performs the function of distribution. |
| (d) Financing: | The wholesaler provides financial support to producers and manufacturers by sending money in advance to them. He also sells goods to the retailer on credit. Thus, at both ends the wholesaler acts as a financier. |
| (e) Risk taking: | The wholesaler buys finished goods from the producer and keeps them in the warehouses till they are sold. Therefore, he assumes the risks arising out of changes in demand, rise in price, spoilage or destruction of goods. |
Ex. 3.8.
(i) Buying and Assembling of goods
(ii) Storage of goods
(iii) Credit facility
(iv) Personal services
(v) Risk bearing
(vi) Display of goods
(vii) Supply of information
Ex. 3.9.
1- has been; 2- are innovating; 3- are seizing; 4- have transformed; 5- appear; 6- benefit; 7- know; 8- are reinventing; 9- are offering; 10- are adapting.
Ex. 3.10.
1. Those firms that sell to businesses are a part of wholesale trade.
2. Wholesaling is an intermediate step in the overall distribution of goods.
3. A wholesaler organizes the transaction for the resale of goods to other wholesalers or retailers.
4. Wholesalers operate from a warehouse or office facility and sell goods to other businesses.
5. Traditionally wholesalers do not market their services to the general public.
Ex. 3.12.
“In 2017 it was £92.8 billion, which was 5.0% of the UK’s total GVA. Over the past ten years, the retail sector’s economic output has followed a similar path to the whole economy. The retail sector saw a fall in economic output and then weak growth following the financial crisis and subsequent recession of 2008, until late 2012. In 2013, the sector began to recover and grew strongly from 2014 until late 2016. The retail sector grew less strongly in 2017 and early 2018.”
Ex. 3.13.
1. Buyers are successful if they choose merchandise that sells.
2. Buyers fail when warehouses and store racks are left with unwanted goods.
3. The most challenging part of the buyer’s job is predicting which items will be popular.
4. Buyer’s career depends on good planning skills, decisiveness, and the willingness to trust your intuition.
Ex. 3.14.
UK retailers have suffered their worst start to any year since 2013, and headwinds are still raging. People are spending less. So, for example, the retail sector faces perhaps the greatest amount of turbulence over the coming months.Restaurants and eateries are also in many cases fighting for their survival.
Ex. 3.17.
1. Many retailers sell cross-border or set up shop in other markets as soon as they see opportunities and suitable rules.
2. Retailers and wholesalers offer customers in these new markets more choice, better prices, and in many cases, improved consumer rights, customer service, and safety and environmental standards.
3. Retailers and wholesalers have boosted the local economies.
4. They have invested, created jobs, developed local suppliers of food and non-food products and given them access to their own and the retailer’s home market.
5. Export and import traders have provided the same VAT in their B2B markets.
Ex.3.18.
1) Retailers employ almost 20 million people in Europe, wholesalers another 10 million.
2) This means that 1 in 7 Europeans works in retail or wholesale, many of them young people starting their first job. Some come from disadvantaged backgrounds with few skills.
3) Retailers work with schools and colleges to equip the next generation with the right skills.
4) Retailers and wholesalers invest in employee development to allow them to move up and take on management roles.
5) Others are already highly qualified, such as engineers or marketing experts but also chemists, designers or butchers, meeting the range of skills the sector deploys.
6) The sector also has a strong track record in welcoming people from all ethnic backgrounds, ages and people with disabilities.
7) Retail and wholesale allow budding entrepreneurs the opportunity to pursue their ideas as an online trader or opening their own shop.
Ex. 3.19.
1. Wholesale means the sale of goods in voluminous quantity, at a low price. The business of selling goods to end consumers in small lots at a profit is known as Retail.
2. Wholesale creates a link between the manufacturer and retailer whereas Retail creates a link between wholesaler and customer.
3. There are wide differences between wholesale and retail price of a particular commodity, i.e., the wholesale price is always less than the retail one.
4. In wholesale business, there is no requirement of an art of selling the goods which are a must in case of retail business.
5. The size of a wholesale business is larger than a retail business.
6. In the retail business, the retail shopkeeper can choose the goods freely which is not possible in wholesale business because the goods are to be purchased in bulk.
7. In wholesale business, the capital requirement is higher than in retail business.
8. The location is of utmost important in retail, but in wholesale, the location does not matter at all.
9. While selling the goods in retail the appearance of the shop and the display of items should be good to attract more and more customers. However, in wholesale, there is no such kind of need.
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10. There is no requirement of advertising in wholesale but retail business requires advertising to grab the attention of customers.
Whenever a product is produced, it does not come to us directly. There are so many hands, through which a product passes, and finally, we get it from the retail shopkeeper. In wholesale, mild competition can be seen, but in retail, there is a cut-throat competition, so it is very tough to retain and regain customers.
Ex. 4.3.
C/B; 2-B/C; 3-C; 4, 5-B.
Ex.4.4.
| A business can face cultural and legal obstacles to conducting e-commerce. | - |
| A business can have trouble recruiting and retaining employees with the technological, design, and business process skills needed to create an effective e-commerce presence. | - |
| A business can reduce the costs of handling sales inquiries, providing price quotes, and determining product availability by using electronic commerce in its sales support and order-taking processes. | + |
| Difficulty of integrating existing databases and transaction-processing software designed for traditional commerce into the software that enables e-commerce. | - |
| E-commerce can make products and services available in remote areas. | + |
| E-commerce provides buyers with a wider range of choices than traditional commerce. | + |
| E-commerce provides buyers with an easy way to customize the level of detail in the information they obtain about a prospective purchase. | + |
| Electronic payments can be easier to audit and monitor than payments made by check, providing protection against fraud and theft losses. | + |
| Electronic payments of tax refunds, public retirement, and welfare support cost less to issue and arrive securely and quickly when transmitted over the Internet. | + |
| Return-on-investment is difficult to calculate. | - |
Ex. 4.6.
1- has; 2- is; 3- get; 4- is; 5- post; 6- leads; 7- form; 8- leads; 9- afford; 10- cost; 11-be purchased; 12- (be) sold; 13- are; 14- requires; 15- has been noted; 16- has been made; 17- versed; 18- has not mentioned; 19- handle; 20- to have become.
Ex. 4.7.
