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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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