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CBSE Questions for Class 10 Elements Of Business Large Scale Retail Trade Quiz 3 - MCQExams.com
CBSE
Class 10 Elements Of Business
Large Scale Retail Trade
Quiz 3
Mail order houses are confronted with the problems like _______.
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0%
damage of goods in transit
0%
excessive operating cost
0%
credit policies
0%
all of the above
Explanation
1. Lack of personal contact
In mail order business, the producer/seller and customers cannot have direct personal contact with each other. The customers cannot get as much satisfaction as desired from the goods. As a result, they may be attracted to other retailing institutions to buy necessary goods.
2. unnecessary delay
Unnecessary delay is a major disadvantage of mail order business. As in this method of purchase order takes a comparatively long time to reach the producers' hand and also to give delivery of goods to buyers by mail, mail order business is a delay-making business.
3. Lack of selection of goods
in mail order business, the customers cannot inspect goods; they cannot get the selection facility and buy
preferred
goods.
Under ________ system the goods can be sent to all the places
having postal services.
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0%
mail order houses
0%
chain Stores
0%
departmental store
0%
specialty shops
Explanation
Mail-order house is a
company
that sells or manages mail-order advertising or a mail-order business.
A
company
that creates letters to send out to customers encouraging them to buy something via the mail is an example of a mail-order house.
There can be different alternatives for receiving payments for a Mail Order House. They are _______.
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full payment in advance
0%
Value Payable Post (VPP)
0%
the goods may be sent through a bank
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All of the above
Explanation
A card not present transaction (CNP, MO/TO,
Mail Order
/ Telephone
Order
, MOTOEC) is a
payment
card transaction made where the cardholder does not or cannot physically present the card for a merchant's visual examination at the time that an
order
is given and
payment
effected.
Identify the incorrect statement regarding large shop retailers.
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There are different size groups of fixed shop retailers.
0%
These retailers may be dealing in different products, including consumer durable as well as non-durable.
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This category of retailers has greater credibility in the minds of customers.
0%
They normally deal in consumer products of daily use.
Explanation
Large scale retail
trade is a type in which either single type of goods or a variety of goods is made available to a
large
number of consumers in a big shop under a singel roof or may be made available at the convenience of customers.
Which of the following is not a feature of Chain store?
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The manufacturing/procurement of merchandise for all the retail units is centralized at the head office.
0%
Each retail shop is under the direct supervision of a Branch Manager.
0%
As the size of these stores is very large, they are generally formed as a joint stock company.
0%
The prices of goods in such shops are fixed and all sales are made on cash basis.
Explanation
Chain store
is that it deals in one type of product. Thus the idea behind multiple shops is specialization. Thus we can say that
chain stores
mean a group of
stores
, handling similar lines of merchandise with single ownership and scattered locations.
Hence, C is the correct option.
Sushila orders a mixer based on an advertisement in a newspaper specifying the features, price, and delivery terms. It specified that the payment will be accepted by VPP only. Identify this type of retail business.
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0%
Retailers
0%
Wholesale
0%
Second-hand Goods
0%
Mail Order Retailing
Explanation
In mail-order, retailing, sellers contact the potential buyers through advertisements and mail publicity by sending circulars, catalogs, price lists, samples, booklets, etc. The customers are required to place their orders by post. They generally accept the payment by VPP only.
___________________ manages all the administrative activities of the departmental store.
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0%
Shareholders
0%
General Manager
0%
Employees
0%
Investors
Explanation
A departmental store is a large retail showroom having several departments under one roof, each department specializing in one line of product. Each of the departments is like a separate shop with centralized purchasing, selling, and accounting. Administrative activities of the departmental stores are managed by a General Manager.
A _____________ has several sections in the same premises selling different types of products.
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0%
Departmental Store
0%
Automatic Vending Machine
0%
Mail-Order Houses
0%
Wholesale
Explanation
A departmental store is a large retail showroom having several departments where each department specializes in a single line of products. Each department is like a separate shop with centralized purchasing, selling, and accounting.
Which of the following is/are feature(s) of large-scale retailers?
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They require a huge investment
0%
They have large size showrooms to sell goods
0%
A large number of customers visit these showroom
0%
All of the above
Explanation
The features of a large-scale retailer are:
They require a huge investment.
They have large size showrooms to sell goods.
They are generally located at a central place or in shopping centers.
A large number of customers visit these showrooms.
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