BB0033 BBA103- Business Environment

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Summer/May 2012

Bachelor of Business Administration-BBA Semester 1

BB0033/BBA103- Business Environment - 4 Credits

(Book ID: B1499)

Assignment Set- 2

Q.1 Describe the major features of a capitalist economy?

ANSWER:Capitalist Economy

We shall now discuss the Capitalist economic system. In this economic system the means of production and distribution are privately owned and production is guided largely through the operation of markets

The following are the features of capitalism.

a) Free Private Enterprise

A capitalist economy is a free enterprise economy. Such

Q.2 Write a short note on co-operative sector?

ANSWER: The philosophy of co-operation endeavors to empower isolated individuals who are individually weak , to come together in a democratic manner on the basis of equality to achieve the desired common economic interests. The Co-operative Planning committee defined co-operation "as a form of organization in which persons voluntarily associate together on a basis of equality for the promotion of their economic interests". The concept of co-operation emphasizes on the collective action of individuals to achieve common goals which may not have been possible for one isolated individual. The principles of co-operation define the basic characteristics of any co-operative organization. These principles form the common thread that runs through all the co-operative societies which marginal variations.

       India has a rich history of co-operati

Q.3 what are the benefits that an economy can get through privatization?

ANSWER:Countries like the UK have shown how they could solve the fiscal crisis of the State and could bring a new industrial bureaucracy. The benefits of privatization may be listed down as follows:

a) Improvement in managerial efficiency

Q.4 Explain the four levels of economic integration?

ANSWER:Levels of Economic Integration/Trading Blocs

Economic Integration covers different kinds of arrangements between two or more countries by which they link their economies closer, either in part or in total. They discriminate against the other countries, which are not parties to the agreement through tariffs. There are four levels of economic integration. Each level is described in brief.

a) Free Trade Area

If a group of countries agrees to abolish all trade restrictions and barriers and charge very low rates of tariffs among them in carrying out international trade, such a group is called „free trade area‟. These countries impose trade barriers with regard to trade with the countries

Q.5 What are the characteristics of the Indian economy that tend to create

constraints in the development of the nation?

ANSWER: There are certain characteristics which tend to create constraints in the development of the nation namely:

Rapid Population Growth: This monster is eating into the success of India. According to 2011 census of India, population of India was 1.21 billion growing at a rate of 1.41% approx. Such a vast population puts lots of stress on economic infrastructure of the nation. Thus India has to control its burgeoning population. India is the second most populous country in the world and is projected to be the most populated by 2025. The positive aspect of India’s growing population is the large proportion of population in the younger age group.

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