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Gauhati University Trade and Commerce in India Solved Question Paper 2024:
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1 (Sem-2) VAC 03
2024
VALUE ADDED COURSE
Paper Code: VAC0200302
(Trade and Commerce in India)
Full Marks: 30
Time: 1½ hours
The figures in the margin indicate full marks for the questions
1. Answer the following questions as per direction: 1×5=5
(a) Two examples of secondary sector industries are:
Textile manufacturing
Automobile production
(b) Cropland refers to land used for growing crops, while pasture refers to land covered with grass or other vegetation used for grazing livestock.
(c) The tertiary sector is also called the service sector.
(d) Non-renewable resources are natural resources that cannot be replenished within a human lifetime once they are used up, such as fossil fuels (coal, oil, natural gas) and minerals.
(e) The statement "Anil Ambani is the founder of Reliance Industries" is False. Reliance Industries was founded by Dhirubhai Ambani, Anil Ambani is his son.
2. Answer any five questions from the following (answer should be in about 50 words): 2×5=10
(a) Give the meaning of commence.
Answer:- "Commence" means to begin or start something. It marks the initiation of an activity, process, or event. For example, when a meeting or project commences, it begins its course.
(b) Mention two nature of trade and commerce.
Answer:-
Exchange of goods and services: Trade involves the buying and selling of goods, while commerce also includes other business activities like transportation and financial services.
Profit motive: Both trade and commerce are carried out with the goal of making profits.
(c) Write a note on trade during Vedic age.
Answer:- During the Vedic age, trade was mainly based on barter, where goods were exchanged without money. People traded items like cattle, grains, and textiles. There was domestic trade within India, and also foreign trade, particularly with regions like Persia and the Middle East.
(d) Mention any two characteristics of an entrepreneur.
Answer:-
Risk-taking ability: Entrepreneurs are willing to take risks to start and manage businesses, understanding that there are uncertain outcomes.
Innovation: They possess the ability to create new ideas, products, or services and bring them to market.
(e) Write a note on solar energy.
Answer:- Solar energy is derived from the sun's rays and converted into electricity or heat. It is a renewable and environmentally friendly energy source. Solar energy is used for generating electricity, heating water, and other applications, reducing dependency on fossil fuels and minimizing environmental damage.
(f) Explain any two major problems faced by the tourism industry of Assam.
Answer:-
Inadequate infrastructure: Poor roads, transportation facilities, and accommodation options limit the growth of tourism.
Natural disasters: Floods and other environmental issues disrupt tourist activities, causing damage to infrastructure and making certain areas inaccessible.
(g) Mention any two objectives of industrial policy in the post-1991 period.
Answer:-
Liberalization and privatization: Opening up industries to private and foreign investments and reducing government control.
Export promotion: Encouraging industries to focus on exports to enhance competitiveness and contribute to economic growth.
(h) What are the commercial food crops?
Answer:- Commercial food crops are crops grown primarily for sale in the market, rather than for personal consumption. Examples include rice, wheat, maize, sugarcane, and cotton. These crops are grown on large scales to meet the demand of local and international markets.
(i) Write any two roles of entrepreneurship in economic development of a nation.
Answer:-
Job creation: Entrepreneurs create new businesses, which in turn generate employment opportunities.
Innovation and growth: They introduce new products, services, and technologies that drive economic growth and improve living standards.
(j) What are the different types of land?
Different types of land include:
Answer:-
Agricultural land: Used for farming and growing crops.
Forest land: Covered with forests and used for timber and other resources.
Urban land: Used for residential, commercial, and industrial purposes.
Barren land: Land that is not suitable for cultivation or habitation.
3. Answer any three questions from the following (answer should be in about 300 words): 5×3=15
(a) Elaborate the significance of trade and commerce.
(b) Write a note on rubber plantation in Assam.
(c) What are the uses of land? Explain it.
(d) Explain the functions performed by entrepreneur.
(e) Discuss the institutional arrangement for promotion of agro-based industries.
(f) Write a note on Jehangir Ratanji Dadabhoy Tata (JRD Tata), the great industrialist of India.
(a) Elaborate the significance of trade and commerce.
Answer:
Trade and commerce play a crucial role in the economic development of any country. They facilitate the exchange of goods and services, which is essential for the distribution of resources. The significance of trade and commerce can be understood through the following points:
Economic Growth: Trade stimulates economic growth by allowing countries to specialize in the production of goods and services they can produce most efficiently. This leads to increased production, job creation, and improved standards of living.
Promotes Competition: Through trade, domestic markets become exposed to foreign competition, encouraging local businesses to innovate, improve quality, and reduce costs. This benefits consumers by providing them with better products at competitive prices.
Resource Allocation: Commerce helps in the optimal allocation of resources by directing goods to areas where they are in demand. This efficient distribution ensures that resources are used effectively, reducing waste.
Foreign Exchange Earnings: Trade generates foreign exchange through exports, which is essential for a country's economic stability. It allows for the import of goods that may not be produced domestically.
Cultural Exchange: Trade and commerce also encourage cultural exchange between nations, leading to a better understanding and appreciation of different cultures and fostering peaceful international relations.
(b) Write a note on rubber plantation in Assam.
Answer:
Rubber cultivation in Assam is an important agricultural activity due to its favorable climatic conditions. The state's humid climate, especially in the Barak Valley, is suitable for rubber cultivation. Rubber plantations in Assam contribute significantly to the state's economy by generating employment and supporting various industries.
Growth and Development: Rubber was first introduced in Assam in the early 20th century, and over the years, the plantation area has expanded. The tea gardens and agricultural lands in the region have been increasingly converted to rubber plantations to meet growing demand.
Economic Importance: Rubber cultivation in Assam provides employment to a large number of people, particularly in the rural areas. It also supports ancillary industries such as rubber processing and manufacturing, contributing to the state's industrial development.
Challenges: Rubber plantations in Assam face challenges such as inadequate infrastructure, low productivity, and market fluctuations. The government and private enterprises are working to improve rubber cultivation through better management practices and research.
Future Prospects: With growing demand for rubber in industries such as automotive and manufacturing, the future of rubber plantations in Assam looks promising. However, sustainability issues, including land use and climate change, need to be addressed for long-term growth.
(d) Explain the functions performed by an entrepreneur.
Answer:
Entrepreneurs play a vital role in the economic development of a country by performing a variety of functions. These functions can be categorized as follows:
Innovation: The primary function of an entrepreneur is to innovate and create new products, services, or business models. Entrepreneurs identify market gaps and develop innovative solutions that meet consumer needs, often leading to the creation of entirely new industries.
Risk-bearing: Entrepreneurs take the financial and personal risks associated with starting and running a business. They invest their resources and time in uncertain ventures, bearing the risk of failure. However, they are also entitled to reap the rewards of success.
Organization and Management: Entrepreneurs are responsible for organizing resources such as labor, capital, and raw materials. They manage the day-to-day operations of the business, ensuring smooth functioning, productivity, and profitability.
Decision Making: Entrepreneurs make critical decisions regarding pricing, marketing, production, and expansion. Their ability to make sound decisions impacts the success and growth of their ventures.
Leadership and Motivation: Entrepreneurs lead and motivate their employees, fostering a productive work environment. They provide vision and direction for their business, ensuring that the entire organization is aligned with its goals.
In addition to these functions, entrepreneurs also contribute to economic growth by generating employment, fostering competition, and increasing productivity.
(e) Discuss the institutional arrangement for promotion of agro-based industries.
Answer:
Agro-based industries play a significant role in the development of the agricultural sector, and several institutional arrangements have been made to promote such industries in India. These arrangements involve government policies, financial institutions, and other organizations that support the growth of agro-based industries. The key institutional arrangements are as follows:
Government Policies: The government has developed various policies to promote agro-based industries, such as the National Agro-Industry Policy, which aims to increase value addition, improve marketing systems, and encourage technological innovations in the sector. The government also provides subsidies and incentives for setting up agro-processing units, including tax benefits and duty exemptions.
Financial Institutions: Several financial institutions, such as the National Bank for Agriculture and Rural Development (NABARD) and the Agricultural and Processed Food Products Export Development Authority (APEDA), provide loans, grants, and subsidies for agro-based industries. NABARD, in particular, plays a pivotal role in offering financial assistance to small and medium-scale agro-processing units.
Training and Research Institutions: Institutions like the Indian Council of Agricultural Research (ICAR) and the Food Processing Training Centre (FPTC) offer technical support, research, and training for entrepreneurs in the agro-processing industry. They help in developing new techniques and products, enhancing productivity, and improving the quality of agricultural products.
Export Promotion Agencies: Agencies like APEDA and the Directorate General of Foreign Trade (DGFT) work towards promoting agro-based exports by providing market linkages, quality certification, and trade facilitation services. They assist agro-based industries in accessing international markets.
State-Level Support: Various state governments have established their own policies and infrastructure to promote agro-based industries. This includes setting up agro-industrial parks, offering land at concessional rates, and providing skill development programs for workers in the sector.
These institutional arrangements collectively help in the modernization and expansion of agro-based industries, ensuring that the agricultural sector contributes effectively to economic growth.
(f) Write a note on Jehangir Ratanji Dadabhoy Tata (JRD Tata), the great industrialist of India.
Answer:
Jehangir Ratanji Dadabhoy Tata (JRD Tata) was one of India’s most renowned industrialists and philanthropists. Born on July 29, 1904, in Paris, he was the son of Ratanji Dadabhoy Tata, a prominent businessman in the Tata family. JRD Tata is often regarded as the father of Indian aviation and is celebrated for his immense contributions to India's industrial landscape.
Industrial Contributions: JRD Tata was the driving force behind the expansion of the Tata Group, one of India's largest and most respected conglomerates. Under his leadership, the Tata Group diversified into industries like steel, automobiles, chemicals, and telecommunications. He played a pivotal role in the establishment of Tata Steel, India's first steel plant, and Tata Motors, which revolutionized India's automobile industry.
Tata Airlines: In 1932, JRD Tata founded Tata Airlines, which later became Air India, India’s national airline. As the first Indian to hold a commercial pilot’s license, JRD Tata’s vision for aviation played a key role in the development of the industry in India.
Philanthropy: JRD Tata was also known for his philanthropic endeavors. He donated generously to various educational, scientific, and social causes. He was instrumental in the establishment of institutions like the Tata Institute of Fundamental Research (TIFR) and the Indian Institute of Science (IISc), both of which have been crucial in advancing scientific research in India.
Awards and Recognition: JRD Tata was honored with numerous awards throughout his life, including the Bharat Ratna, India's highest civilian award, in 1992, recognizing his contributions to industry and nation-building.
JRD Tata's leadership and vision were instrumental in shaping modern India’s industrial landscape, making him a legendary figure in Indian business history.
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