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.

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

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.

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.

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.

Equivalent units of production are equal to number of whole units that could have been completed if all work of the period had been used to produce whole units.