Please refer to Internal Trade Class 11 Business Studies Important Questions with answers below. These solved questions for Chapter 10 Internal Trade in NCERT Book for Class 11 Business Studies have been prepared based on the latest syllabus and examination guidelines issued by CBSE, NCERT, and KVS. Students should learn these solved problems properly as these will help them to get better marks in your class tests and examinations. You will also be able to understand how to write answers properly. Revise these questions and answers regularly. We have provided Notes for Class 11 Business Studies for all chapters in your textbooks.

Important Questions Class 11 Business Studies Chapter 10 Internal Trade

All Internal Trade Class 11 Business Studies Important Questions provided below have been prepared by expert teachers of Standard 11 Business Studies. Please learn them and let us know if you have any questions.

Very Short Answer Type Questions

Question. What do you mean by a Cheap jack type of retail trade?
Answer : Retailers who have independent shops of a temporary nature in a business locality. They keep on changing their business from one locality to another, depending upon the potentiality of the area. They deal in consumer items as well as services such as repair of watches, shoes, buckets etc.

Question. Define Internal Trade
Answer : Buying and selling of goods and services within the boundaries of a nation are referred to as internal trade. Characteristic of Internal Trade are Buying and selling takes place in home country, there payment made or received in-home country with few formalities to be fulfilled by traders.

Question. Which shops deal in specific line products
Answer : Speciality shops
Instead of selling a variety of products of different types, these retail stores specialise in the sale of a specific line of product. The speciality shops are generally located in a central place where a large number of customers can be attracted, and they provide a wide choice to the customers in the selection of goods

Question. Mail order Houses provide a lot of convenience to the customers, yet they are not very popular, why? Give one reason.
Answer : Mail order Houses provide a lot of convenience to the customers, yet they are not very popular because it requires heavy expenditure on promotion of products

Question. Distinguish between a wholesaler and retailer. Give only one point of difference
Answer : Wholesaler is one who sell goods to retailers and other merchants, and/or to industrial, institutional and commercial users but who do not sell in significant amount to ultimate consumers
A retailer is a business enterprise that is engaged in the sale of goods and services directly to the ultimate consumers