COMMERCE THEORY ANSWERS:
E-commerce is the buying and selling of goods and services, or the transmitting of funds or data, over an electronic network,primarily the internet
(i)The biggest advantage of privatization is that once a privatization is done completely there is no interference from political leaders and also one does not need to do undue favor to them which in itself is a big boost when it comes to doing business and increasing profitability.
(ii) It increases the overall efficiency and reduces the bureaucratic culture which is the main culprit because typically in government organizations work happens at its own leisurely pace which results in delay in decision making and therefore reduces the effectiveness and competence of public sector enterprise
(iii) As far government is concerned it has also benefits from doing privatization because majority of governments all over the world has fiscal deficit and by doing privatization government can reduce fiscal deficit to an extent, however full control is possible only when government control its unnecessary expenditures
(iv) It reduces bereaucratic administrative bottle neck
(i) Private companies do not care about the society and their main motive is to earn profits, which is with contrast to government companies which keeps doing social work and therefore if privatization happens it will result in fewer funds for society because private companies have no obligation to do social work
(ii) Privatization also affects the employees because in private sector enterprises there is emphasis on performance which indirectly results in work pressure and meetingdeadlines or targets and individuals who have been doing work for years without much pressure find it difficult to adjust to new setting and many end up resigning from their service
(iii) There is a risk that it may take decisions of starting a project which results in short term benefits but may not good for long term
(iv) High rate of public interest abuse
Communication is simply the act of transferring information from one place to another
(i) Postal Services
(ii) Telegraph Services
(iii) Courier Services
(v) Internet Service
(vi) Radio and Television
(i) The location of the warehouse should be suitable and convenient.
(ii) The warehouse should be designed to fit the need of the product.
(iii) An effective warehouse is one that is equipped with machinery that makes the handling of the goods easier.
(iv) A warehouse should be fitted with equipment to deal with an emergency.
(i) Storage facilities: Warehouses provide storage facilities to producers who always find it impossible to sell all what they produce at the same time
(ii) Price stabilization: In order to avoid price flunctuation,goods produced ahead of demand are warehoused and supplied at market according to demand
(iii) Checking of smuggling: state warehouses provide spaces where contrabands goods are siezed kept
(iv) Provision of employment opportunities:It provides employment opportunities for different categories of workers eg store manager,clerks etc
(v) Generation of revenue: It generates revenues to individuals and government by hiring them to other users
(vi) Promotion of economic growth: By encouraging further production with spaces made available for storing of goods produced ahead of demand,stabilizing prices etc
standing order is an instruction to a bank by an account holder to make regular fixed payments to a particular person or organization
bank draft is a payment on behalf of a payer that is guaranteed by the issuing bank. A draft ensures the payee a secure form of payment
Legal tender is a medium of payment recognized by a legal system to be valid for meeting a financial obligation
Money orders are a secure payment method. They are convenient, affordable,and widely accepted. Money orders are a good way to send cash that never expires
I.O.U is usually an informal document acknowledging debt. An IOU differs from a promissory note in that an IOU is not a negotiable instrument and does not specify repayment terms such as the time of repayment