Chapter 10: Internal Trade — Online MCQ Test
BUSINESS STUDIES · Grade 11 · CBSE(NCERT)
Practice Chapter 10: Internal Trade with a free chapter-wise online MCQ test.
This chapter covers: This chapter details domestic trade operations wholesale retail functions itinerant fixed shop retailers departmental stores super markets and Goods and Services Tax GST fundamenta....
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Chapter 10: Internal Trade — Important Questions & Answers
What is meant by internal trade?
- A. Trade between two countries
- B. Trade within the boundaries of a country
- C. Trade done only through internet
- D. Trade of goods by government only
Answer: B. Trade within the boundaries of a country
Internal trade refers to the buying and selling of goods and services within the same country. It includes wholesale and retail trade.
Internal trade refers to the buying and selling of goods and services within the same country. It includes wholesale and retail trade.
Which of the following is a function of wholesalers?
- A. Assembling goods
- B. Breaking bulk
- C. Providing home delivery to ultimate consumers only
- D. Manufacturing goods
Answer: B. Breaking bulk
Wholesalers buy goods in large quantities and break bulk by selling them in smaller lots to retailers or other buyers.
Wholesalers buy goods in large quantities and break bulk by selling them in smaller lots to retailers or other buyers.
Wholesalers are said to act as a link between which two groups?
- A. Producers and consumers
- B. Producers and retailers
- C. Retailers and consumers
- D. Banks and consumers
Answer: B. Producers and retailers
Wholesalers purchase goods from producers in bulk and supply them to retailers, making them an important middle link in distribution.
Wholesalers purchase goods from producers in bulk and supply them to retailers, making them an important middle link in distribution.
Why are wholesalers important to manufacturers?
- A. They increase production capacity
- B. They reduce the need for advertising and stockholding by selling in bulk
- C. They replace the need for consumers
- D. They eliminate transport costs completely
Answer: B. They reduce the need for advertising and stockholding by selling in bulk
Wholesalers help manufacturers by buying in bulk, reducing the burden of many small transactions, storage, and market distribution.
Wholesalers help manufacturers by buying in bulk, reducing the burden of many small transactions, storage, and market distribution.
Which of the following is NOT a characteristic of a departmental store?
- A. Large-scale retailing
- B. Centralized management
- C. Separate departments for different products
- D. Goods sold only in bulk to traders
Answer: D. Goods sold only in bulk to traders
A departmental store sells goods directly to consumers and not in bulk to traders. It is a large retail establishment with separate departments.
A departmental store sells goods directly to consumers and not in bulk to traders. It is a large retail establishment with separate departments.