Right answer because teaching her own son by a teacher at home out of affection at home is not an economic activity, since she would not get any money for it. If she teaches in school or tuitions it is an economic activity since she gets money for it so that is the main reason that it is right answer here.

Right answer Because Changes in import-export policy is a political cause of business risk. For instance the government is changed and it imposes an import duty on gold 20 % , which was previously 15 % is a political cause of business risks. Changes in licensing and taxation are all the policies of the government and so it is also a political cause.

Right answer because banking is an example of services, since the bank provides services to its customers of depositing of money in its bank and also gives loans to its customers and many other services so it is right answer.

Right answer because risk of price fluctuation cannot be insured and no policy is available to cover the risk of changes in price of a product. The uncertainity of change in price cannot be forecasted and so it is a non-insurable risk.

Right Answer Because the quality of products cannot be improved by packaging. It  depends that how the product is manufactured, not by packaging.

Right answer because in pure risk, there is no chance of gain by that risk. For ex- there can be loss only by fire, accident etc and there is no chance of gain.

Right answer Because in overdraft, money is withdrawn more than deposited. It is for current a/c holders.

Right answer Because as the name suggests, the joint sector is owned and managed by government as well as private persons. There is interference of both.

 Right answer because it is a visual communication, since graphs and diagrams give a bird,s eye view to the entire data at once. There is presentation by graphs and diagrams.

Right answer because any partner cannot transfer his interest in the firm to others without the consent of other partners, because every partner is concerned with firm's profits and losses.

Right answer Because in joint-stock company, one can transfer freely his or her shares to others which is a public company. There is no restriction on transferring share to others in public company. One can sell his shares easily and freely and withdraw his membership from the company when he wishes to do so.

Right answer Becasue it is a human cause, since if a customer or debtor is insolvent, he cannot pay the amount due which results in bad debts or loss for the business.

 Right answer Because the life insurance is not a contract of indemnity, because life cannot be indemnified and the amount for which policy is taken is  recoverable. It is a contingent contract. For instance a policy is taken by Mr W of Rs 2 lakhs and he dies the whole amount of Rs 2 lakhs is recoverable.

Right answer because if the firm is not registered a third party can sue the unregistered firm for its claim. So this is not a consequence ( result) of non-registration of a partnership firm, since third party is not related to it. The third party can sue the partnership firm for its claims, since there is no error on part of third party, if the firm is not registered.

Right answer because railways, Post & Telegraphs is an example of Departmental Undertakings. Departmental Undertakings is managed by the government officials under the supervision of the head of the department concerned. It may be run either by the Central Government or State Government.

Right answer because services provided by doctors and lawyers come under the category of profession. Doctors and lawyers renders the personal services of a specialised nature on the basis of professional knowledge, education and training. A doctor treats a patient through knowledge of his profession, education and experience.

Right answer becasue in this policy the subject matter is insured for a specified period of time, usually not exceeding one year. It contains a ' continuation clause ' that if the the voyage is not completed within the specified period, the risk shall be covered until the voyage is completed. So continuation clause is in this policy.

This warranty implies that ship is fit in all respects when it starts sailing. The ship must be suitably constructed, properly manned and equipped, sufficiently fuelled that is the main reason that it is right answer here.

Right answer because in Fleet Policy several ships belonging to the same owner are insured for one sum and one premium. This saves shipping company from the botheration of arranging a seperate policy for each vessel. For instance a shipping company owns four ships and takes one policy for the four ships.

Jettison Clause is used to save the ship from sinking.. It means throwing overboard a part of ship's cargo so as to reduce her wieght or to save other goods. The cargo is thrown deliberately to save it from sinking. Jettison covers the loss arising out of such throwing of goods.

Right answer because Nursing is not a commercial service as it does not support trade, but a personal service. As nursing depends on person to person and is manual work performed by nurse, it is a personal service.

Right answer Because in Fixed Deposit a fixed amount has to be deposited for a fixed time. For instance a fixed amount of Rs 20,000 is deposited in abnk for a period of five years. The rate of interest is higher on it, since it cannot be withdrawn before the expiry of that fixed time.

Right answer Because It is related to extraction of useful materials from beneath the surface of earth and sea. In mining and fishing also we do so. For ex - ex mining of iron ore, gold etc from the earth. Fishes are also taken out from water in fishing.

Right answer Because  insurance spreads the risk among a large number of people. Suppose 100 people take a policy for risk against fire, and Mr A one of those, suffers a loss of Rs 10,000 due to fire, only he would be compensated among 100 people.

Right answer Because production of watches is an example of assembling concern. In assembling industry manufactured components are combined together to form a new product. So in watches, mirror, cells , strap ,spin dial etc are assembled or combined together to manufacture a watch so that is the main reason that it is right answer here.