CBSE Questions for Class 11 Commerce Business Studies Internal Trade Quiz 3 - MCQExams.com

"A trader is not a middleman bringing the buyer and seller together and receiving the commission for the services provided by him." Is the statement true or false?
  • True
  • False
  • Depends on the condition
  • There is nothing specified about it
What service of wholesalers helps the retailers in managing their business with relatively small amount of working capital?
  • Marketing support
  • Grant of Credit
  • Availability of goods
  • Specialised knowledge
Buying and selling of goods and services within the boundaries of a nation are referred to as __________.
  • external trade
  • internal trade
  • sale transaction
  • none of the above
Which of the following is true in relation to wholesale trade?
  • Wholesalers generally take title of the goods and bear the business risks by purchasing and selling the goods in their own name
  • Wholesalers purchase in bulk and sell in small lots to retailers or industrial users
  • Wholesalers undertake various activities such as grading of products, packing into smaller lots, storage, transportation, promotion of goods, collection of market information etc
  • All of the above
Services which retailer provide to customers are _______________.
  • wide selection of goods
  • after sale services
  • credit facilities
  • all of the above
Which of the following is an example of internal trade?
  • Products purchased from a neighborhood shop in a locality
  • Products purchased from door-to- door salesperson
  • Products purchased from an exhibition
  • all of the above
Name the business enterprise that is engaged in the sale of goods and services directly to the ultimate customers?
  • Retailer
  • Wholesaler
  • Manufacturer
  • Brokers
Purchase and sale of goods and services in large quantities, for the purpose of resale or intermediate use is referred to as _______________.
  • internal trade
  • wholesale trade
  • retail trade
  • inter state sale
Internal trade can be classified into two broad categories. The two categories of internal trade are _________ and _________.
  • wholesale, retail trade
  • inward , outward trade
  • intra state, inter state trade
  • none of the above
What are the basis on which retailers have been classified?
  • On the basis of size of business
  • On the basis of ownership
  • On the basis of merchandise
  • All of the above
Which of the following is true in relation to internal trade?
  • No custom duty or import duty is levied on such trade as goods are part of domestic production and are meant for domestic consumption
  • Generally, payment has to be made in the legal tender of the country or any other acceptable currency
  • Internal trade can be classified into two broad categories
  • All of the above
The chances of incurring loses in departmental stores are high as a result of _________________.
  • high operating costs
  • large scale operations
  • small scale operations
  • both A and B
What are the characteristics of fixed shop retailers?
  • They operate at large scale.
  • They have greater credibility in the minds of consumers.
  • They deal in both durable and non-durable products.
  • All of the above
Name the traders who do not change their place of business very frequently?
  • Pavement vendors
  • Cheap jacks
  • Market traders
  • Peddlers and Hawkers
What are the types of the fixed shop retailers on the basis of the size of their operations?
  • Small shopkeepers
  • Large retailers
  • Both (A) and (B)
  • None of the above
Name the traders who open their shops at different places on fixed days or dates.
  • Street traders
  • Peddlers and Hawkers
  • Cheap jacks
  • Market traders
Name the shop which sells rare objects of historical value and antique items at heavy prices.
  • Secondhand goods shop
  • Single line stores
  • Speciality shops
  • Street small shops
Itinerant retailers are traders who do not have a fixed________ of business to operate from.
  • scale
  • place
  • capital
  • labour
Name the stores which comes under the category of fixed shop small retailers.
  • General stores
  • Speciality stores
  • Single line stores
  • All of the above
Name a large shop retailer that is generally formed as a Joint stock company managed by a board of directors.
  • Chain stores
  • Departmental Stores
  • Mail order houses
  • None of the above
Name the most common type of itinerant retailers operating in India?
  • Peddlers and Hawkers
  • Market traders
  • Street traders
  • All of the above
The success of mail order business depends heavily on the availability of __________ at a place.
  • efficient postal services
  • credit facilities
  • after sale services
  • none of the above
The benefits of large scale operations are enjoyed by_____________ in respect of purchase of goods.
  • chain stores
  • consumer cooperative stores
  • departmental stores
  • all of the above
The departmental store caters to the needs of relatively_________________ of people.
  • high income group
  • low income group
  • Both A and B
  • None of the above
Name a fixed shop large retailer in which the number of shops with similar appearances are located in different parts of the country.
  • Chain stores
  • Departmental stores
  • Mail order houses
  • Consumer cooperative store
Name the fixed shop large retailer which satisfies all the needs of customers under one roof.
  • Chain stores
  • Consumer cooperative store
  • Mail order housing
  • Departmental stores
Name the type of goods that are suitable for trading through mail order houses.
  • Goods that can be graded and standardized
  • Goods that can be easily transported at a low cost
  • Goods that can be described through pictures
  • All of the above
Which of the following is a characteristic of a mail order house?
  • Huge capital requirement
  • Elimination of middle man
  • Presence of bad debt
  • None of the above
Some of the services offered by departmental stores to its customers includes_________________.
  • home delivery of goods
  • execution of telephone orders
  • grant of credit faciities
  • all of the above
Name the retailer enterprise in which sales are made strictly on cash basis.
  • Chain stores
  • Departmental stores
  • Consumer cooperative store
  • All of the above
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