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The costliest means of transport is air transport.

Explanation: 

Air transport is the costliest mode of transportation of goods and passengers, mainly because of its expensive fuel and high operational costs. However, this mode is the most effective and time-saving, especially for long-distance transportation. It is also effective during situations of natural calamities like earthquakes and floods

Air-ways:

• Airways is used to transport goods and humans speedily especially for long distances.
• If the transport is done through aeroplanes then runways are needed for take-off and landing. However, if the transport is to be carried out for short distances or for small quantity of goods or few people, or at hostile regions then helicopters are a very good option.

Means of transport carrying bulk and heavy goods for international trade- Water Transport 

Explanation: 

Water transport is most suitable for the transportation of bulky and heavy goods for international trade purposes. It is more economical than air transport.

(a) Very Small Aperture Terminal 

(b) E-banking 

Correct option is (A) Banco

Any insurance other than life insurance is called general insurance.

Insurance is a written contract or agreement between two parties. The party that provides insurance is called insurer’ and the party that receives the insurance is called insuree’.

A contract signed between an individual i.e. insuree and the insurance company where in the company promises to pay a specific amount in exchange for a premium upon death of the insuree is called life insurance.

A contract signed between the insuree and the insurance company where in the company assures reimbursement of financial loss to the insuree is called insurance policy.

There are different components of e-banking:

1. Mobile Banking: Mobile banking refers to conduct of banking operations on mobile phones. In other words, mobile banking means banking operations that are done through mobile phone while a person is on the move. Service is available only to an existing customer of the bank availing internet banking services. Mobile banking is available for the individual customers.

2. Telephone Banking or Phone Banking: Telephone banking refers to the delivery of banking and financial services to the customer of a bank through the medium of telephone. In other words, telephone banking is a form of e-banking under which a customer can obtain the necessary information of dialing a telephone number specified in advance. Telephone banking is a secure, fast and convenient way to obtain a range of banking services. 

3. Internet Banking: Internet Banking refers to provision of banking services by banking to its customers through its website. Internet baking enables the customers to have every banking activity which a customer could do over a bank counter with comforts from his office or home. Internet banking helps the banks to raise huge deposits from the NRIS.

4. Home Banking: Use of personal computers at home for conducting their banking operations with their banks is called home banking. Use of personal computer at home or in office by customer for handling his bank account is one of the main features of home banking. 

5. Debit Cards: A debit card is also a payment card. It is used to obtain cash, goods or services automatically, debiting the payments to the card holder’s bank account instantly upto the credit balance which exists in the customer’s bank account. There is no need to carry cash, its use is less complicated than using a cheque.

6. Credit Cards: A credit card is an instrument which provides instantaneous facilities to its holder to purchase goods or services for business establishments enrolled as members of the credit card system.

7. ATMs: An automated teller machine or automatic teller machine, popularly called the cash machine or any time money, is an electronic machine installed by a commercial bank and operated by the customer himself, to withdraw money and to make other financial transactions. ATMs can be installed at any place, at the bank premises or at important places like railway station, bus station, shopping centers, etc. 

8. EFT: The electronic funds transfer scheme is scheme of the Reserve Bank of India. Electronic funds transfer is a system by which cheqes, pay-in-slips and other financial papers are replaced by computer controlled invisible and immediate transfer of funds from one account to another.

9. Core .Banking: Core banking or centralized banking is the process which is completed in centralized environment. That is, under this process, the information relating to customers account is stored in the Central Server of the Bank that is available to all the net- worked branches of the bank.

Honesty is missing in this case and the principle of utmost good faith is violated and hence the person’s beneficiary cannot get the claim for his policy.

In my opinion, these services are complementary to each other and hence, they have their own importance. I can’t say that tourism or recreation (Personal Service) is less important than services of a charitable hospitals (Social Service) or vice-versa. Similarly I can’t say that banking (Business Service) is less important than services of restaurants (Personal Service) or vice-versa. Still if I have to choose one, I will select social services because: 

• They benefit to a larger section of society. 
• They are sometimes provided without a payment in lieu. 
• They have long lasting effects on our society and economy.