11th NCERT Business Studies Chapter 4

– Characteristics of services

Summary: Services are essentially intangibles that involve an interaction between the service provider and the consumer, providing satisfaction of wants without necessarily being linked to the sale of a product or another service.

– Distinguishing services from goods

Summary: Services are intangible activities that do not result in the ownership of anything physical, unlike goods which are physical products that can be delivered to a purchaser.

– Types of business services

Summary: Different types of business services include e-banking, insurance policies, and warehouses, each playing a specific role in facilitating various business activities.

– Concept of e-banking

Summary: E-banking refers to the electronic banking services provided by financial institutions through the internet, allowing customers to conduct transactions and access financial services online.

– Types of insurance policies

Summary: Insurance policies include life insurance, fire insurance, and marine insurance, each designed to provide protection against specific risks associated with life, property, or marine activities.

– Types of warehouses

Summary: There are different types of warehouses such as private warehouses, public warehouses, bonded warehouses, government warehouses, and cooperative warehouses, each serving distinct functions in storing and maintaining goods efficiently.