(a) Why is it important for commercial information to be rapid and accurate?
(b) What are the advantages of courier services over public postal services?
Explanation
(a) Importance of rapid and accurate commercial information includes:
(i) Rapid and accurate commercial information enhance international trade transactions as it reduces the effects of distance among countries.
(ii) The producers can easily get raw materials needed and the consumers, finished goods.
(iii) Information helps in reducing costs and minimizing risks associated with the business.
(iv) Producers need rapid and accurate commercial information on supply, demand and prices of raw materials for effective planning of resources.
(v) Commercial information helps in creating awareness of goods and services to the consumers at all times.
(b) Advantages of courier services over public postal services are:
(i)The services of courier firms are more personal and cordial than postal services.
(ii) Courier services are faster and more reliable than public postal services.
(iii) Courier services companies undertake air cargo and bulky shipment of goods.
(iv) Important documents are insured in courier services while in public postal services, they are not insured.
(v) Courier services are rendered all over the country including rural areas.
(vi) Courier services companies can be found in rural areas.