Business Awareness Questions

The Business Entity concept is also called as Separate Entity or Economic Entity concept. This concept states that the transactions and all the balances related or associated with a business must be recorded or accounted separately from other businesses or the individual personal transactions.

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.

The demand curve facing a perfectly competitive firm is a horizontal straight line equal to the equilibrium price of the entire market because a perfectly competitive firm can sell all units brought to market at the same price.

Making Optimal decisions at the margin requires "Weighing the costs and benefits of a decision before deciding if it should be pursued".

For a good that is a luxury demand tends to be elastic.

An increase in the price level will cause a movement up the aggregate demand curve.

Net working capital is defined as the aggregate of the current liabilities and current assets i.e, it measures the company's ability to pay off its current liabilities with in the current assets.