question_answer

What are the hindrances in the commerce? Which agencies are used to remove these hindrances?

Answer:

Ans.     Following are the hindrances in commerce:

(a) Lack of personal contact: This hindrance is removed by traders and middlemen.

(b) Distance or place: This hindrance is removed by transportation.

(c) Finance: This hindrance is removed by banking.

(d) Time or storage: This hindrance is removed by warehousing.

(e) Risk: This hindrance is removed by insurance companies.

(f) Information: This hindrance is removed by advertisement or communication.