Commerce Exam > Commerce Videos > Business Studies CUET Preparation > Meaning, Nature and Importance of Controlling
Meaning, Nature and Importance of Controlling Video Lecture | Business Studies CUET Preparation - Commerce
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FAQs on Meaning, Nature and Importance of Controlling Video Lecture - Business Studies CUET Preparation - Commerce
| 1. What is the meaning of controlling commerce? |  |
Ans. Controlling commerce refers to the regulation and management of trade activities, including the buying, selling, and exchange of goods and services, by governing bodies or authorities.
| 2. What is the nature of controlling commerce? | |
Ans. The nature of controlling commerce is characterized by the implementation of policies, regulations, and laws to monitor and supervise trade activities, ensuring fair competition, consumer protection, and economic stability.
| 3. Why is controlling commerce important? | |
Ans. Controlling commerce is important for several reasons:
- It helps maintain a level playing field among businesses, preventing unfair practices and monopolies.
- It ensures consumer protection by enforcing standards and regulations for product quality, safety, and fair pricing.
- It contributes to economic stability by regulating imports, exports, and trade policies.
- It supports the growth and development of domestic industries and markets.
- It helps prevent fraud, counterfeiting, and illegal activities in the commercial sector.
| 4. How does controlling commerce benefit the economy? | |
Ans. Controlling commerce positively impacts the economy in various ways:
- It promotes healthy competition, which leads to innovation, improved quality, and lower prices for consumers.
- It generates tax revenue for the government, which can be used for public services, infrastructure development, and social welfare programs.
- It encourages foreign investment by providing a stable and transparent business environment.
- It supports job creation and economic growth by fostering a favorable business climate.
- It contributes to the overall economic stability and sustainable development of a country.
| 5. What are some examples of controlling commerce measures? | |
Ans. Examples of controlling commerce measures include:
- Imposing import/export restrictions or tariffs to protect domestic industries and regulate international trade.
- Enforcing consumer protection laws to ensure fair business practices, product safety, and accurate labeling.
- Regulating advertising and marketing practices to prevent misleading or deceptive information.
- Establishing standards and certifications for goods and services to ensure quality and safety.
- Monitoring and regulating financial transactions and payment systems to prevent money laundering and illegal activities in commerce.
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Oct 31, 2024 Last updated |
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