Business Awareness Questions

Antrix Corporation Limited (ACL), Bengaluru is a wholly owned Government of India Company under the administrative control of the Department of Space. Antrix Corporation Limited was incorporated as a private limited company owned by Government of India in September 1992 as a Marketing arm of ISRO for promotion and commercial exploitation of space products, technical consultancy services and transfer of technologies developed by ISRO. As the commercial and marketing arm of ISRO, Antrixis engaged in providing Space products and services to international customers worldwide.

Commission is charged with regulating business.

Performance goals are used to measure productivity.

Quality assurance (QA) is a way of preventing mistakes and defects in manufactured products and avoiding problems when delivering solutions or services to customers.

A monopoly is a market that has a single seller of a unique product in the market. He does not have any competition in the market as he has no substitute product for the product he is selling.

The raise in the price of a product may be due to increase in cost of production, increase in the demand of the product and increase in the margin.

When the price of a product increases its demand may fall as per the Law of Demand and an increase in the competition.

Security in a business does not motivate entrepreneurs. An entrepreneurs primary motivation to start a business is to be independent.