Explore topic-wise InterviewSolutions in .

(a) proceed 

(b) challenges 

(c) repentance

(a) social and economic acceptability 

(b) we choose the wrong way and act on it 

(c) righteousness

 (c) stop his guests from using the Ouija board

(a) proceed 

(b) challenges 

(c) repentance

When John sarcastically called writing a ‘delightful’ business’, a voice at the other end called, “I should say it is.” The narrator jumped in surprise and looked around. He sat staring at it and presently noticed something just taking shape. First an arm came out, then a sleeve leg and at last there ‘she’ was complete. ‘She’ was long, angular with enormous fishy eyes behind her big bone-rimmed spectacles. She looked so solid that for a moment John began to doubt at his own senses. He believed she was real after all.

(a) She realized that she left after the maid had departed for the day so the maid could not have left the door unlocked. 

(b) The lady shows great presence of mind in taking precautions before she enters the flat. She goes to the basement to get the porter because she wants to have someone with her. She suspects that the burglars might still be hiding in the flat. 

(c) When the old lady walked slowly into the hall she at once noticed that all the room doors were open, yet following her regular practice, she had shut them before going out. Looking into the drawing room, she saw a scene of confusion on her writing desk. 

(d) Her legs were trembling and she was feeling weak.

(d) working as an accountant in a lumber company

The sight of the ghost materialising in his room filled the narrator with fear

(a) (ii) worried 

(b) (iv) turned upside down 

(c) (i) inclined 

(d) (iii) significant

(a) was common only amongst the fools 

(b) external factors 

(c) at risk

(a) A person becomes overconfident when he over assesses his capabilities, sometimes he over assesses his competence also and jumps into situations that are beyond his control. 

(b) Overconfidence generally leads people into misadventures thus endangering their chances in life. They become unable to foresee future developments. Hence there is a great risk of failure. 

(c) One can manage overconfidence by discussing the matter with other informed people with an objective mind. Morever when the person is proved wrong, he should accept the reality and say without delay. 'I was wrong' 

(d) Modesty makes you a realist. It makes you a person who is cut down to size. People of this kind become very cautious. Before taking any action, they assess the whole situation and adopt a realistic approach. 

(e) Overconfident people generally lead a life where they live within their thoughts. They know themselves but are unaware of others. They are unable to make use of the experience of others.

(a) A person becomes overconfident when he over assess his capabilities, sometimes he over assesses his competence also and jump into situations that are beyond his control. 

(b) Overconfidence generally leads people into misadventures thus endangering their chances in life. They become unable to foresee future developments. Hence there is a great risk of failure.

(c) One can manage overconfidence by discussing the matter with other informed people with an objective mind. Morever when the person is proved wrong, he should accept the reality and say without delay. ‘I was wrong’. 

(d) Modesty makes you a realist. It makes you a person who is cut down to size. People of this kind become very cautious. Before taking any action, they assess the whole situation and adopt a realistic approach. 

(e) Overconfident people generally lead a life where they live within their thoughts. They know them selves but are unaware of others. They are unable to make use of the experience of thers.

(b) he was always able to write a ghost story whenever he had to write one

(a) was common only amongst the fools 

(b) external factors 

(c) at risk

The formal sector credit in India includes loans from banks and cooperatives. RBI supervises their functions of providing loans.

These formal sector credits can be made beneficial for poor farmers and workers through the following measures:

1. Formal sector credit needs to be expanded in India so as to save people, especially poor farmers and workers from exploitation of the informal sector credit.
2. Provide credit at a reasonable rate of interest to fulfil various needs of the people by providing cheap and affordable credit.
3. This credit can be distributed equally which helps in benefiting the poor. This can help in promoting agricultural activities and small-scale industries.
4. The absence of collateral and documentation with rural borrowers would ease the formalities to obtain credit from the formal sector. Provide flexible loans in terms of timelines, interest rates and procedural requirements to rural borrowers.
5. There should be awareness among rural borrowers against the exploitation of informal sector credit facilities. The need to keep them aware regarding the high rate of interest and debt traps of moneylenders.

The lives of the villagers were affected by the forest laws: 

(i)  Now the villagers were deprived of their customary practices like hunting, cutting, grazing their cattle, collecting fruits, etc. 

(ii) One of the major impacts was on the practice of shifting cultivations or swidden agriculture. 

(iii)  People were now forced to steal wood from the forests and if they were caught, they were at the mercy of the forest guards who would take bribes from them. 

(iv) Women who collected fuel woods were especially worried. 

(v) It was common for police, constables and forest guards to harass people by demanding free food from them.

'Project Tiger' was launched in the year 1973 by the Government of India during the tenure of Smt. Indira Gandhi, the then prime minister. The main goal of this project was to conserve Bengal tigers in their natural habitat and prevent them from extinction. A number of tiger reserves and zones were created for this purpose. These are maintained by the National Tiger Conservation Authority (NTCA). 

Exhaustion of oil sources would affect life in the following ways:

(i) It would lead to a crisis of supply of energy.

(ii) Power sources that require oil would be adversely affected.

(iii) Most of the world transport is dependent on fossil fuel. It would also be crippled.

(iv) There would be conflicts between countries and communities for control of alternative sources of energy.

(v) World trade and economy would be negatively affected as supply of goods will break down causing scarcity.

The overlapping of social differences creates social divisions and tensions. This sometimes gives rise to social division.

Example: In US the blacks were usually poor, homeless hence were discriminated by the White Americans. Hence this created social division.

In India, the Dalits were treated as Untouchables because they were born lower caste compared to rest. They were poor, had no homes, were not allowed to perform decent work. This created a social division in the society, which deep-rooted and India is still struggling to overcome this division.

India has many lakes. They differ in size and other characteristics. Most lakes are permanent, whereas some contain water only during the rainy season. There are lakes which are formed by the action of glaciers and ice sheets, while the others have been formed by human activities.

1. Glacial lake: Lake which is originated from melted glaciers. Eg. Chandra Tal, Lake Tsongmo, Kedartal etc.
.
2. Artificial lake: It is created by flooding land behind a dam also called an  of water or reservoir. Eg. Guru  Gobind Sagar, Dhebar Lake etc.

3. Ox bow lake: It is formed when a wide meander from a river is cut off to form a lake. Eg, Purbasthali oxbow lake, Kanwar oxbow Lake etc.

4. Lagoon lake: A body of shallow sea water or brackish water separated from the ocean by barrier islands or reefs .Eg. Chilika lake, Puli cat lake etc.

India has many lakes. They differ in size and other characteristics. Most lakes are permanent, whereas some contain water only during the rainy season. There are lakes which are formed by the action of glaciers and ice sheets, while the others have been formed by human activities.

1. Salt water lakes: Spit and bars form lagoons or salt water lakes in the coastal areas like the Chilika lake, Pulicat lake and the Kolleru lake. Sometimes salt water lakes are formed with island drainage like Sambhar lake in Rajasthan. Its water is used for producing salt.
2. Freshwater lakes: Most of these are in the Himalayan region. They are of glacier origin. They are formed when glaciers dug out a basin, which was later filled with snow melt. The Wular lake in Jammu and Kashmir is the largest freshwater lake in India. Other freshwater lakes are the Dal, Bhimtal, Nainital, Loktak and Barapani.
3. Man-made lakes: The damming of the rivers for the generation of hydel power has also led to the formation of lakes. These lakes are formed to drain excessive water of the river during floods and adding water to the rivers during the dry season. Such lakes are the Guru Gobind Sagar (Bhakra Nangal Project), Nizam Sagar, Nagarjuna Sagar, Rana Pratap Sagar, etc.

The drawback of manuscripts were:

1. It is very difficult to handle manuscripts.

2. It is not easy to store them.

3. The pages are so fragile that with time the info. written on them erases automatically.

4. Manuscripts were fragile, awkward to handle and could not be carried around easily as they were big and heavy.

The Jacobin Club was formed by Maximilian Robespierre.

The measures taken or adopted were:

1. Formation of political clubs.

2. Members of the Jacobin Club.

3. All citizens got the right to vote.

4. Declaration of France as a Republic. 

France

Revolutionary France, with the first political experiment in liberal democracy granted the right to vote and to get elected.

Role of zamindars during the Mughal period 

i. Landed proprietors enjoyed social and economic privileges 

ii. Elevated status as they performed khidmat for the state.

iii. Held extensive personal lands as milkiyat. They could sell, mortgage that land. 

iv. Collect revenue on behalf of the state. 

v. They controlled military resources also. 

vi. Had fortresses and armed contingent. 

vii. Were upper caste brahamans and had full control over village society. 

viii. The dispossession of weaker people was a way of expanding zamindari. 

ix. Few lower caste also entered into zamindari 

x. Rajputs and jats adopted various strategies to consolidate power in north India. 

xi. Zamindars spearheaded the colonization of agricultural lands and helped in settling cultivators. 

xii. The buying and selling of zamindari accelerated the process of monetization in the countryside 

xiii. In few cases zamindars came to be a exploitative class on peasantry section To be assessed as a whole.

The mid First millennium BCE ,the religious thinkers tried to understand the mysteries of existence and relationship between human being and the cosmic world’ 

i. Thinkers like Zarathustra, king-size, Socrates, Plato, Aristotle, and Buddha tried to understand the mysteries of existence. 

ii. They tried to understand the mysteries of existence and Relationship between human being & cosmic world. 

iii. Curious about the meaning of life and the possibility of life after death. 

iV. Concerned with understanding and the expressing nature with ultimate reality. 

V. People began speculating on the significance of sacrificial tradition. 

Vi. Teachers travelled place to place to convince the validity of philosophy. 

Vii. Emphasized on the trials & tribulations of worldly existence. 

Viii. Whether outside the Vedic tradition , then even was a ultimate reality 

iX. Concerned about the rebirth due to past actions or not.

The Buddha’s teachings have been reconstructed from stories, found mainly in the Sutta Pitaka. 

i. According to Buddhist philosophy, the world is transient (anicca) and constantly changing; 

ii. It is also soulless (anatta) as there is nothing permanent or eternal in it. 

iii. Within this transient world, sorrow (dukkha) is intrinsic to human existence. 

iv. By following the path of moderation between severe penance and self-indulgence that human beings can come out of these worldly troubles. 

v. The Buddha regarded the social world as the creation of humans rather than of divine origin. 

vi. He advised kings and gahapatis to be humane and ethical towards common people. 

vii. Individual effort was expected to transform social relations. 

viii. The Buddha emphasized individual agency and righteous action as the means to escape from the cycle of rebirth and attain self-realization. 

ix. Any other relevant point

Values History of help, humanity & harmony during partition of India 

i. People helped each other 

ii. Stories of caring and sharing were also there. 

iii. New opportunities were there

iv. Triumph over trauma 

v. Humble efforts of people 

vi. Kindness of people 

vii. Humanity was also shown 

viii. Sharing of food shelter and security 

ix. Numerous stories-examples to be coded

Demands of the 1857 rebels from the British govt. 

i. Rebels wanted an appeal unity of all the section of the population irrespective of cast. creed and religion 

ii. They rejected Firangi raj in condemned British for the annexation they carried in the treaties they had broken, like in Awadh, Delhi , Kanpur etc. 

iii. The rebels tried to establish some kind of structure of authority and administration in the above mentioned areas. 

iv. Zamindars wanted absolute rule in their own zamindari. 

v. Merchants wanted reduction in the taxation, postages, tolls, etc. 

vi. Military and Public servants wanted all the post of dignity with adequate salaries. 

vii. Sepoyes were against the new cartridges and muskets which had arrived from India 

viii. Any other relevant point.

Fifth Report submitted to the British Parliament in 1813. 

i. It was the fifth series of report on the administration and activities of the East India Company in India. 

ii. It ran into1002 pages of which over 800 pages were appendices that reproduced petitions of zamindars and riots, reports of collectors and districts, statistical tables on revenue returns and notes on the revenue and judicial administration of Bengal and madras written by officials 

iii. Many political groups argued that conquest of Bengal was benefitted to east India company only 

iv. It contained information on company’s misrule and maladministration

v. British select committee presented reports on the administration of India 

vi. But it can’t be remained uncritical –it exaggerated the collapse of traditional zamindari power 

vii. Overestimated the scale on which zamindars were losing their land.

Physical Arrangements of Mughal Court 

i. It focused on sovereign status of the king as the heart of the society. 

ii. His throne as the takhat gave physical form to the function of the sovereign as axis Mundi. 

iii. The Canopy was believed to separate the radiance of the sun from that of the sovereign. 

iv. In court, status was determined by spatial proximity to the king. 

v. Once the emperor sat on throne no one was permitted to move or leave without permission. 

vi. The slightest infringement of etiquette was noticed on the spot. 

vii. Deeper prostration represented higher status (sijda). 

viii. Either by bowing or kissing the ground.

Causes of the decline of Vijayanagara Empire 

I. Strain began to show after the death of Krishnadeva’s Rayas death in 1529. 

II. Successors were weak. 

III. Successors were troubled by the rebellious nayakas or military chiefs. 

IV. Control of the centre was shifted to another ruling lineage that of Aravidu. 

V. The military ambitions of the rulers of the Vijayanagara as a well as those of Deccan sultans resulted in shifting alignment. 

VI. In the battle of Rakshasi-Tangadi (Talikota), Vijayanagara was completely sacked

Karl Marx on Asiatic mode of production 

i. Surplus was appropriated by the state 

ii. It was the emergence of a society that was composed of a large number of large and autonomous and egalitarian village communities. 

iii. The imperial court presided over these village communities respecting the autonomy as long as flow of the surplus was unimpeded. 

iv. This was considered as a stagnant system 

v. Any other relevant point Any two to be mentioned

Factors that gave shape to Calcutta town planning 

i. The crowding 

ii. The excessive vegetation 

iii. The dirty tanks

iv. The smell and poor drainage 

v. The poisonous gases from marshlands and pools of stagnant water were the cause of various diseases.

Caste hierarchies laid in the dharamshastras and dharamsutras 

i. The ideal order was laid down in the dharamshashtras as Brahamanas were ranked first, was divinely ordained, were supposed to study and teach the Vedas, perform sacrifices and get sacrifices performed ,give and receive gifts 

ii. Kshatriyas were to engage in warfare, protect people and administer justice, study the Vedas, get sacrifices performed and make gifts. 

iii. Vaishyas who were expected to engage in agriculture, pastoralist and trade. 

iv. Shudders were assigned only one occupation that of serving the three higher varnas. 

v. Brahmans evolved two or three strategies for enforcing these norms – to assert the Verna order to advice kings, to persuade people. To be assessed as a whole.

‘Epigraphy 

i. There are technical limitations in studying the Inscriptions. In some inscriptions letters are very faintly engraved. 

ii. Some inscriptions are damaged and in some inscriptions letters are missing. So reconstructions are uncertain. 

iii. Besides, it is not always easy to be sure about the exact meaning of the words used in inscriptions, some of which may be specific to a particular place or time. This has to be done carefully, to ensure that the intended meaning of the author is not changed. 

iv. Several thousand inscriptions were made but only some hundreds have been discovered in which all are not deciphered, published and translated. 

v. There is another more fundamental problem. Politically and economically significant matters are recorded in inscriptions but routine agricultural practices and the joys and sorrows of daily existence are not found in inscriptions. 

vi. Historians and Epigraphists have to constantly assess statements made in inscriptions to judge whether they are true, plausible or exaggerations. 

‘Epigraphy 

i. There are technical limitations in studying the Inscriptions. In some inscriptions letters are very faintly engraved. 

ii. Some inscriptions are damaged and in some inscriptions letters are missing. So reconstructions are uncertain. 

iii. Besides, it is not always easy to be sure about the exact meaning of the words used in inscriptions, some of which may be specific to a particular place or time. This has to be done carefully, to ensure that the intended meaning of the author is not changed. 

iv. Several thousand inscriptions were made but only some hundreds have been discovered in which all are not deciphered, published and translated. 

v. There is another more fundamental problem. Politically and economically significant matters are recorded in inscriptions but routine agricultural practices and the joys and sorrows of daily existence are not found in inscriptions. 

vi. Historians and Epigraphists have to constantly assess statements made in inscriptions to judge whether they are true, plausible or exaggerations. 

Fortified area of the Vijayanagara Empire 

i. Abdur Razzaq, an ambassador of Persia was greatly mentioned seven lines of forts. These encircled not only the city but also its agricultural hinterland and forests. 

ii. The outermost wall linked the hills surrounding the city. The massive masonry construction was slightly tapered. 

iii. No mortar or cementing agent was employed anywhere in the construction. The stone blocks were wedge shaped, which held them in place, and the inner portion of the walls was of earth packed with rubble. 

iv. Between the first, second and the third walls there are cultivated fields, gardens and houses. 

v. Agricultural tract between the sacred centre and the. 

Piecing together parts of Harappa history C 

i. Cunningham’s confusion- Harappan artifacts were found fairly often during the nineteenth century and some of these reached Cunningham, he did not realise how old these were but unsuccessfully tried to place it within the time-frame of c. sixth century BCE-fourth century CE. 

ii. John Marshall`s Ignorance- Marshall tended to excavate along regular horizontal units, measured uniformly throughout the mound, ignoring the stratigraphy of the site. This meant that all the artefacts recovered from the same unit were grouped together, even if they were found at different stratigraphic layers. As a result, valuable information about Harappan civilisation was irretrievably lost. 

 iii. R.E.M. Wheeler`s problems- R.E.M. Wheeler took over as Director-General of the ASI in 1944, rectified many problems. Wheeler recognized that it was necessary to follow the stratigraphy of the mound rather than dig mechanically along uniform horizontal lines. 

 iv. Daya Ram SahniSeals- were discovered at Harappa by archaeologists such as Daya Ram Sahni in the early decades of the twentieth century, in layers that were definitely much older than Early Historic levels. It was then that their significance began to be realized. 

v. Rakhal Das Banerji- in 1924,John Marshall, Director-General of the ASI, announced the discovery of a new civilization in the Indus valley to the world. 

vi. S.N. Roy- As S.N. Roy noted in The Story of Indian Archaeology, “Marshall left India three thousand years older than he had found her.”This was because similar, till-then-unidentified seals were found at excavations at Mesopotamian sites. It was then that the world knew not only of a new civilization interesting results in the future. 

(a) a Seller to the buyer 

There are no advantages of dieting. Science has proved that dieting causes many physical and mental problems. It causes a lot of problems and your physique can even become worse than before.

Some of the pitfalls of dieting are:

a. Hair loss: The most common side effect of dieting is that you start to lose your hair. Lack of required amount of proteins and fats results in hair loss.

b. Depression: There are many other reasons for depression in life. Dieting is one among them. When your body is not able to handle loads of activities, you feel pressure in mind which causes stress. Stress worsens the mental as well as the physical health of a person.

c. Organs damage: If you continue dieting for a long time it can damage your internal organs and body systems. Its working efficiency decreases than the normal. Your blood circulation becomes passive. You are less energetic, lazy, and lethargic and become weak.

Pitfalls Of Dieting

(a) Extreme reduction of calories

(b) Restrict nutrients 

(c) Skipping meals 

(d) Intake labeled foods 

(e) Not exercising 

(f) Underestimate calories

Female Athlete Triad: (Osteoporosis, Amenoria, Eating Disorders) 

The Female Athlete Triad is a syndrome (collection of signs and symptoms) that links three health problems including: disordered eating, amenorrhea and osteoporosis. Girls may begin to skip periods if they are not getting adequate nutrition for the amount of exercise they do (energy availability). Periods also may be irregular. Stress lowers estrogen levels, which may cause skipped periods. Low estrogen levels and a lack of menstrual periods can lead to low bone mass (low bone mineral density) and stress fractures (small cracks) in their bones. The female athlete triad is defined as the combination of disordered eating, amenorrhea and osteoporosis. This disorder often goes unrecognized. The consequences of lost bone mineral density can be devastating for the female athlete. Premature osteoporotic fractures can occur, and lost bone mineral density may never be regained. 

a. The hire purchase system is essentially a contract for hiring of goods. The ownership rights remain with the seller and the customer exercises his option for purchasing the goods. The buyer can return the goods at any stage. The seller can also take back the goods in case of non-payment. 

b. When goods are sold and payment is agreed to be made in instalments, it is known as instalment payment system. In this case if there is default in payment of any instalment by the buyer, the seller cannot ask for the goods to be returned as the ownership rights pass to be buyer when goods are sold and initial payment is made. The seller can only sue the buyer in a law court for payment of the balance due. 

(a) Artificial person.

(b) Separate legal entity.

(c) Formation.

(d) Perpetual succession.

(e) Control.

(f) Liability.

(g) Common seal.

(h) Risk bearing.

Detailed Answer : 

Features of Joint Stock Company : 

(a) Artificial person : A company is a creation of law and exists independent of its members. Like natural persons, a company can own property, borrow money, sue and be sued but unlike them it cannot breathe, eat, talk and so on. 

(b) Separate legal entity : From the day of its incorporation, a company acquires an identity distinct from its member.

(c) Formation : The formation of a company and registration involves preparation of several documents and compliance with several legal requirements. Registration of the company is compulsory. 

(d) Perpetual succession : Members may come and members may go, but the company continues to exist. It can be brought to an end only by law. 

(e) Control : The shareholders do not have the right to be involved in the day-to-day running of the business. A company is managed by and controlled by the Board of Directors who is directly accountable to the shareholders. 

(f) Liability : The liability of the shareholders is limited to the extent of their capital contributed in the company. 

(g) Common seal : The company being a artificial person acts through its Board of Directors. Board of Directors enters into an agreement with others by indicating the company approval through a common seal. 

(h) Risk bearing : In the face of financial difficulties, all shareholders in a company have to contribute to the debts to the extent of their shares in the company's capital.

(a) Utmost good faith.

(b) Insurable interest.

(c) Indemnity.

(d) Proximate cause.

(e) Subrogation.

(f) Contribution and Mitigation.

Detailed Answer : 

(a) Utmost good faith : It is the duty of the insured to disclose all the material facts relating to risk to be covered. A material fact refers to the fact which would influence the mind of a prudent underwriter in deciding whether to accept a risk for insurance and on what terms. 

(b) Indemnity : The purpose of insurance is to restore the insured person to approximately the same financial position that existed prior to the loss. The losses paid here would be approximately the same and the reason for this is to prevent the insured from profiting from insurance to reduce moral hazards. Indemnity can be defined as the compensation of loss or injury sustained. 

(c) Mitigation : It is the duty of the insured to take reasonable steps to minimize the loss or damage to the insured property. If reasonable care is not taken like any prudent person then the claim from the insurance company may be lost. 

(d) Subrogation : Subrogation refers to transfer of rights and remedies for the insured to the insurer who has indemnified the insured in respect of the loss. 

(e) Insurable interest : The person getting an insurance policy must have an insurable interest in the property or life insured. A person is said to have an insurable interest in the property, if he is benefited by its existence and prejudiced by its destruction. Without insurable interest, the insurance contract is void. 

(f) Contribution : The principle of contribution allows the insurer the right to call on other insurers liable for the cost to share the claim payment. 

(g) Proximate cause : An insurer will only be liable to pay a claim under an insurance contract, if the loss which gives rise to the claim was proximately caused by an insured peril. This means that the loss must be directly attributed to an insured peril without any break in the chain of causation.

(a) Cost.

(b) Financial strength and stability of operation.

(c) Forms of organisation and legal status.

(d) Purpose and time period.

(e) Risk profile.

(f) Control.

(a) Cost.

(b) Financial strength and stability of operation.

(c) Forms of organisation and legal status.

(d) Purpose and time period.

(e) Risk profile.

(f) Control.

Detailed Answer : 

Factors affecting the choice of the source of funds : 

b Both the cost of procurement of funds and cost of utilising funds should be taken into account while deciding about the source of funds that will be used by an organisation. 

(b) Financial strength and stability of operations : In the choice of source of funds, business should be in a sound financial position so as to be able to repay the borrowed fund and interest amount. 

(c) Form of business organisation : Sole proprietorship and partnership firm can't raise fund by issue of shares or debentures, whereas Joint Stock Companies prefer issue shares and debentures to raise funds. 

(d) Time period : Another factor which helps in deciding the source of funds is the duration for which the firm requires funds as for a short period trade credit, factoring, short-term loans etc. are suitable whereas for long-term shares and debentures are suitable. 

(e) Risk involved : Owners' fund securities (equity, retained earnings) involve no risk where as borrowed fund securities are risky securities. Accordingly the business should choose the source of finance. 

(f) Control : Voting rights of equity shareholders enable them to have control over the business, whereas borrowed capital securities does not dilute the control of management over the business. 

(g) Flexibility : Contractual restrictions by lending organisations / creditors restricts the flexibility of the company. So if other options are available, then firms don't prefer loans from financial institutions and banks which put restrictions. 

(h) Tax benefits : Interest on debentures, loans is deducted from the profits of the company before calculating corporation tax, whereas dividend paid to equity shareholders is not deducted from the total income.

Merits :

(a) Limited Capital requirement.

(b) Elimination of middlemen.

(c) Absence of bad debts.

(d) Convenience.

Demerits :

(a) Lack of personal contact.

(b) High promotion cost.

(c) No credit facilities.

(d) Delayed delivery.

Detailed Answer :

Merits :

(a) Limited capital: In mail order retailing, the retailer need not to maintain any showroom shop, that saves the investment in shop's display, stock of goods, etc. 

(b) Convenience : Shopping becomes easy and convenient through mail order house. The customers can make purchases from their own homes. 

(c) Wider market : There is no geographical limit of market in mail order. Goods can be sold throughout the world wherever postal facilities are available. 

(d) No bad debts : As goods are sent through VPP so they are delivered only on receiving payment. Therefore, less chances of bad debts.

Demerits of Mail order House : 

(a) No personal contact : There is no face-to-face contact or interaction between buyer and seller. So many customers do not have confidence in this type of trading. 

(b) Limited variety : Bulky items, perishable items and the items requiring demonstration can't be sold through mail order retailing. 

(c) Postal delay : The mail order retailing has great dependence on the postal department. There are chances of undue delay, spoilage of goods in transmit, etc. 

(d) Heavy advertising cost : In mail order retailing, demand can be created only by advertisements. They have to spend a huge amount of funds on advertisement. 

(e) Chances of cheating : As there is no chance of personal inspection, dishonest traders may cheat. They may collect advance payments and fail to deliver the goods.

Joint venture means establishing a new business that is formally owned by two or more firms otherwise independent firms. 

Advantages : 

(a) The local partner also contributes to the equity capital, the international firm finds it financial less burden some to expand globally. 

(b) It is possible to execute long projects requiring huge capital and manpower. 

(c) The foreign business firms may get benefits from a local partners knowledge of the host counterion. 

(d) Risk and cost can be avoided by sharing. 

Disadvantages : 

(a) Technology and secrets disclosed to others. 

(b) Dual ownership leads to conflict

Detailed Answer : 

When two or more individuals or enterprises either private or government owned or a foreign company join together through participation in equity capital for achieving a common target and mutual benefit is known as joint venture. 

(a) Reduces competition : When two companies join together it results in reducing the competition as instead of wasting resources in competition they will strengthen their organization. 

(b) Reduces risk : High risk involved in new and innovative ventures can be reduced when two companies join together to share the risk. 

(c) Advance technology : By joining hands with foreign companies, Indian company can get the benefit of advanced technology. 

(d) Large capital : In joint ventures, two companies together contribute capital, as a result large capital can be arranged without much difficulty. 

(e) Reduction in cost : When two firms join together, then they can operate on large scale and get benefit of economies of scale hence, reduces cost of production and marketing. Limitations of Joint Venture : 

(a) Problem in sharing capital : To get control over the company both firms try to increase equity share holdings. 

(b) Legal restrictions : Often there are legal restrictions on foreign investment, e.g., - FERA and FEMA have laid restriction on foreign participation in equity capital of an Indian company. 

(c) Conflicts : Sometimes there can be conflicts among different parties involved in joint ventures because of difference in culture and economic development of two countries. 

(d) Mergers and monopolies : By taking major share holdings in equity capital or by mergers, big companies may create monopoly in market.