Check the below NCERT MCQ Questions for Class 11 Business Studies Chapter 10 Internal Trade with Answers Pdf free download. MCQ Questions for Class 11 Business Studies with Answers were prepared based on the latest exam pattern. We have provided Internal Trade Class 11 Business Studies MCQs Questions with Answers to help students understand the concept very well.
Internal Trade Class 11 MCQs Questions with Answers
It helps disabled and elderly people.
(c) multiple shop
(d) installment system
Answer: (a) Tele-shopping
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) consumer?s co-operative store
Answer: (d) consumer?s co-operative store
This retail business acts as a universal supplier of a wide variety of products.
(a) Departmental store
(b) Multiple shop
(c) Mail order Business.
Answer: (a) Departmental store
____ are mobile traders who deal in low priced articles with no fixed place of business.
(a) Street stalls
(c) Itinerant traders
Answer: (c) Itinerant traders
____________ can check the price fluctuations in the market by holding back the goods when prices fall and releasing the goods when prices raise.
(d) Mercantile agent
Answer: (a) Wholesaler
A warehouse keeper accepts goods for the purpose of ____________
Answer: (d) Storage
When goods are imported for the purpose of export is called as _________
(a) Foreign trade
(c) Home trade
Answer: (b) Entrepot
The purchase of goods from a foreign country is called ____________
Answer: (b) Import
The risk of bad debts in this business is eliminated particularly when payment is received through V.P.P.
(b) mail order trading house
(c) Departmental store
(d) co-operative store
Answer: (b) mail order trading house
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
Answer: (a) Multiple shop
Small scale Fixed retailers includes ____________
(c) Cheap Jacks
(d) General stores
Answer: (d) General stores
____________ are agents who merely bring the buyer and the seller into contact.
(a) Selling agent
(b) Commission agent
Answer: (d) Broker
Wholesaler?s deals in ____________ quantity of goods
Answer: (c) Large
An agent is appointed by the ____________
Answer: (a) Principal
The persons who come in between the primary producer and the final consumer to promote trade is called as ____________
Answer: (b) Middleman
One Mark Questions
1. What is internal trade?
Answer: Buying and selling of goods and services within the boundaries of a nation is referred as internal trade.
2. What is wholesale trade?
Answer: Wholesale trade refers to buying and selling of goods and services in large quantities for the purpose of resale or intermediate use.
3. 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.
4. What is retail trade?
Answer: Retail trade refers to sale of goods in small quantities for the final consumptions.
5. 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.
6. Expand AVM.
Answer: Automatic Vending Machine
7. Expand FOB
Answer: Free on Board
8. Expand CIF
Answer: Cost, Insurance and Freight Price
9. Expand E&OE
Answer: Errors and Omissions excepted
10. Expand COD
Answer: Cash on Delivery
11. Name any one type of internal trade.
Answer: Wholesale Trade
12. State one type of Itinerant retailers.
Answer: Street Traders
13. Give an example for small scale fixed retail shop.
Answer: Soaps, Hair oil and Tooth Paste
14. Give an example for large scale fixed retail shop.
Answer: Spencer, Food world and reliance fresh
15. Give an example for departmental stores.
16. Give an example for multiple shops.
Answer: Pizza Hut and Me. Donald
17. Give an example for Super markets.
Answer: Reliance Fresh and Food world
18. Give an example for malls.
Answer: Garuda Mall and Orion Mall
19. 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.
20. Who are Hawkers?
Answer: Hawkers are those who carry their goods on back of animals or by using wheeled carts from one door to another for selling the articles.
21. Who are cheap jacks?
Answer: Cheap jacks are petty retailers who have independent shops of a temporary nature in the business locality.
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