Internal Trade MCQ Class 11 Business Studies
Please refer to Chapter 10 Internal Trade MCQ Class 11 Business Studies with answers below. These multiple-choice questions have been prepared based on the latest NCERT book for Class 11 Business Studies. Students should refer to MCQ Questions for Class 11 Business Studies with Answers to score more marks in Grade 11 Business Studies exams. Students should read the chapter Internal Trade and then attempt the following objective questions.
MCQ Questions Class 11 Business Studies Chapter 10 Internal Trade
The Internal Trade MCQ Class 11 Business Studies provided below covers all important topics given in this chapter. These MCQs will help you to properly prepare for exams.
Question. The aim is to economies by buying in common and to retain their profits by selling in common.
(a) multiple shop
(b) web marketing
(d) consumers co-operative store
Question. ____ are mobile traders who deal in low priced articles with no fixed place of business.
(a) Street stalls
(c) Itinerant traders
Question. A warehouse keeper accepts goods for the purpose of ____________
Question. The purchase of goods from a foreign country is called ____________
Question. It is a network of a number of branches situated at different localities in the city or in the different parts of the country.
(a) Multiple shop
(b) Consumers co-operative store
(c) Hire purchase system
(d) Internet marketing
Question. ____________ are agents who merely bring the buyer and the seller into contact.
(a) Selling agent
(b) Commission agent
Question. An agent is appointed by the ____________
Question. services offered by retailers to wholesalers are
(a) Help in distribution of goods
(b) Personal selling
(c) Enabling large scale operations
(d) All of the above
Question. One example of Small scale Fixed retailers among these is
(b) General stores
(d) Cheap Jacks
Question. Which one of the following modes of entry brings the firm closer to international markets?
(a) Joint venture
(d) Contract manufacturing
Question. Number of sellers in the automatic vending machine:
(a) One who sell goods
(b) Not even one
(c) One who received goods
(d) Two, one seller and other receiving payment
Question. Which of the following are types of itinerant retailers:
(a) Cheap jacks
(d) All of the above
Question. Trade between Bangalore and Bombay is an example of …………… trade
(a) foreign trade
(b) home trade
(c) wholesale trade.
Question. A Departmental store:
(a) Provides almost all types of facilities
(b) Is large in size
(c) Combines the functions of retailing as well as warehousing
(d) All of these
Question. Whidris not retail store selling:
(a) Mail store
(b) Internet shopping
(c) Selling by AVM
(d) Super bazar.
Question. The document containing the guarantee of a bank to honour drafts drawn on it by an exporter is
(a) Letter of hypothetication
(b) Letter of credit
(c) Bill of exchange
(d) Bill of lading
Question. The shops which are owned by the same proprietor and located in different parts of the city or country are known as:
(a) Departmental store
(b) Super bazar
(c) Multiple shops
(d) Mail-order business
Question. Agents are appointed by?
Question. Which among these is a limitation of departmental stores:
(a) High possibility of loss
(b) High operating cost
(c) Lack of personal attention
(d) All of the above
Question. Which of the following documents is not required in connection with an import transaction?
(a) Certificate of origin
(b) Bill of lading
(c) Shipping bill
(d) Shipment advice
Question. ______are considered as the oldest form of itinerant retailers:
(b) Market trader
(c) Street trader
(d) Cheap jacks
Question. Generally, chain stores make transactions on:
(d) None of the above
Question. Which of the following is not a feature of departmental store
(a)24x 7 shopping
(b)Wide range of products
(c) Large in size
(d) Located at a central place
Question. GST is a type of ___________ tax.
Question. These vendors are found at street crossing where flow of traffic is heavy?
(a) Market traders
(b) Street stall holders
(c) General Stores
(d) Speciality shops
Question. Which type of service is not offered by retailers to manufacturers and wholesalers
(a) New product information
(b) Personal selling
(c) Helps in promotion
(d) Helps in distribution of goods
Question. The main disadvantage of departmental store
(a) Centrally located
(b) Operating cost is too high
(c) Attractive services
(d) Promotion of sales
One Mark Questions
Question. What is internal trade?
Answer: Buying and selling of goods and services within the boundaries of a nation is referred as internal trade.
Question. Who is a wholesaler?
Answer: Wholesaler is a person who buys goods from the producers in bulk quantities and sells them in small quantities to a retailer.
Question. Who is a retailer?
Answer: Retailer is a person who buys the goods in large quantities from the wholesalers and sells ‘them in small quantities to the ultimate consumers.
Question. Expand FOB
Answer: Free on Board
Question. Expand E&OE
Answer: Errors and Omissions excepted
Question. Name any one type of internal trade.
Answer: Wholesale Trade
Question. Give an example for small scale fixed retail shop.
Answer: Soaps, Hair oil and Tooth Paste
Question. Give an example for departmental stores.
Question. Give an example for Super markets.
Answer: Reliance Fresh and Food world
Question. Who are peddlers?
Answer: Peddlers are those who carry their goods on their heads and backs from one door to another in the streets for selling the goods.
Question. Who are cheap jacks?
Answer: Cheap jacks are petty retailers who have independent shops of a temporary nature in the business locality.
Fill in the blanks:
Question. The traders who purchase in large quantities and sell in small lots to retailers are called _________.
Question. Time utility is being provided by __________ intermediary.
Question. Tax liability arises when the taxable income of person crosses exemption limit of Rs._________ lakh.
Question. The __________ act as an important link between producers and final consumers in the distribution of products and services.
Question. Speciality shops are specialize in the sale of a _________ line of products.
Question. On the basis of geographical location of buyers and sellers, trade can be classified into two categories ________ and __________ trade.
Internal and external
Question. The fast food retail outlet of Nirula’s is an example of _________ shops.
Question. Trade taking place within the boundaries of a nation is referred to as _________ trade.
True / False:
Question. Secondhand goods shop may also stock rare objects of historical value and antique items.
Question. Trade which is performed within the geographical boundaries is referred as external trade.
Question. Wholesaler purchase in bulk quantity and sell in small lots to retailers.
Question. Cash on delivery is the only option available for receiving payments in mail order house.
Question. Wholesaler serve as an important link between manufacturer and consumers.
Question. Departmental stores provides all facilities under one roof.
Question. Storage facility provides with time utility.
Match the following:
Question. On the basis of location
|1. Stores found in a local market and residential areas.||(a) Secondhand goods shops|
|2. Shops are generally located In a central place.||(b) Street stall holders|
|3. Small vendors are commonly Found at street crossings||(c) General stores|
|4. Shops located at street Crossing or in busy streets In the form of|
|(d) Speciality shops|
1-(c), 2-(d), 3-(b), 4-(a).
Question. On the basis of types of goods sold by fixed shop small retailers.
|1. Stores specialize in sale of a Specific line of products.||(a) General store|
|2. Shops deal in secondhand or used goods.||(b) Street stall holders|
|3. These vendors deal mainly in goods of cheap variety of products.||(c) Speciality shops|
|4. Shops deals in products of daily use.||(d) Secondhand goods shop|
1-(c), 2-(d), 3-(b), 4-(a).
Question. On the basis of examples of goods sold by fixed shop small retailers.
|1. Shops deals in grocery items, Soft drinks.||(a) Street stall holders|
|2. Vendors deal in goods like hosiery||(b) General store|
|3. Some shops deals in antique goods of historical value.||(c) Speciality shops|
|4. Some shops selling children’s Garments, men’s wear, ladies shoes|
,toys and gifts.
|(d) Secondhand goods shops|
1-(b), 2-(a), 3-(d), 4-(c).
Question. On the basis of services of wholesaler to retailer
|1. Undertake advertising and other sales promotion activities||(a)Risk sharing|
|2. Helps them to manage their business with relatively small amount of|
|(b) Availability of goods|
|3. Maintain adequate stock of commodities to offer variety to customers||(c) Grant of credit|
|(d) Marketing support|
1-(d), 2-(c), 3-(b)
Question. On the basis of information about small relations
|1. The vendors providing convenient service to the customers in |
buying some of the items of their needs
|(a) Secondhand goods shops|
|2. These stalls having very little structure||(b) general stores|
|(c) street stall holders|
Question. On the basis of features of Fixed shop small retailer.
|1. Provide credit facilities to the Customers||(a) Secondhand shops|
|2. Dealings done on cash basis||(b) General stores|
|(c) Departmental stores|
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