Economics Standard Twelve Case Study

Functions Within XYZ Company

• Mr. Lele: Engaged in directing, providing instructions, guidance, and motivation to employees for optimal performance.
• Mr. Sayyad: Responsible for organizing, ensuring harmonious work across different departments while aligning with organizational goals.
• Mr. Desai: Focused on coordinating, managing the arrangement and allocation of necessary resources for the business.

Consumer Rights and Complaints

• Violation: Mr. Ashok's consumer right has been violated due to forced purchase of unsuitable shoes.
• Status: Mr. Ashok is classified as a buyer, not the ultimate consumer, as he initiated the purchase.
• Complaint Filing: Mr. Ashok can file his complaint at the Consumer Court to seek redress.

International Business Transactions

• Funding Source: Mr. A borrows money from a commercial bank to support the growth of his import/export business.
• Investment Venue: He invests his funds in the stock market, aiming for financial returns through equity shares.
• Currency Requirement: Engaging in international trade necessitates the use of international currency.

Distinctions in Business Functions

• Directing vs. Coordinating:

  • Directing involves guiding and motivating employees, while coordinating ensures different departments work in harmony towards common goals.

• Road Transport vs. Rail Transport:

  • They differ in modes of transportation; road transport offers flexibility for short distances, while rail transport is typically used for bulk goods over longer distances, providing efficiency and cost-effectiveness.