Question 1.
It helps disabled and elderly people.
(a) Tele-shopping
(b) E-commerce
(c) multiple shop
(d) installment system

Answer

Answer: (a) Tele-shopping

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Question 2.
The aim is to economies by buying in common and to retain their profits by selling in common.
(a) multiple shop
(b) web marketing
(c) teleshopping
(d) consumer?s co-operative store

Answer

Answer: (d) consumer?s co-operative store

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Question 3.
This retail business acts as a universal supplier of a wide variety of products.
(a) Departmental store
(b) Multiple shop
(c) Mail order Business.
(d) Tele-shopping

Answer

Answer: (a) Departmental store

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Question 4.
____ are mobile traders who deal in low priced articles with no fixed place of business.
(a) Street stalls
(b) Retailers
(c) Itinerant traders
(d) Agents

Answer

Answer: (c) Itinerant traders

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Question 5.
____________ can check the price fluctuations in the market by holding back the goods when prices fall and releasing the goods when prices raise.
(a) Wholesaler
(b) Agent
(c) Retailer
(d) Mercantile agent

Answer

Answer: (a) Wholesaler

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Question 6.
A warehouse keeper accepts goods for the purpose of ____________
(a) Selling
(b) Packaging
(c) Export
(d) Storage

Answer

Answer: (d) Storage

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Question 7.
When goods are imported for the purpose of export is called as _________
(a) Foreign trade
(b) Entrepot
(c) Home trade
(d) Trade

Answer

Answer: (b) Entrepot

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Question 8.
The purchase of goods from a foreign country is called ____________
(a) Entreport
(b) Import
(c) Re-Export
(d) Export

Answer

Answer: (b) Import

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Question 9.
The risk of bad debts in this business is eliminated particularly when payment is received through V.P.P.
(a) Tele-shopping
(b) mail order trading house
(c) Departmental store
(d) co-operative store

Answer

Answer: (b) mail order trading house

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Question 10.
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

Answer: (a) Multiple shop

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Question 11.
Small scale Fixed retailers includes ____________
(a) Hawkers
(b) Pedlars
(c) Cheap Jacks
(d) General stores

Answer

Answer: (d) General stores

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Question 12.
____________ are agents who merely bring the buyer and the seller into contact.
(a) Selling agent
(b) Commission agent
(c) Stockist
(d) Broker

Answer

Answer: (d) Broker

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Question 13.
Wholesaler?s deals in ____________ quantity of goods
(a) Small
(b) Limited
(c) Large
(d) Medium

Answer

Answer: (c) Large

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Question 14.
An agent is appointed by the ____________
(a) Principal
(b) Manufacturer
(c) Wholesaler
(d) Retailer

Answer

Answer: (a) Principal

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Question 15.
The persons who come in between the primary producer and the final consumer to promote trade is called as ____________
(a) Trader
(b) Middleman
(c) Auctioneer
(d) Agent

Answer

Answer: (b) Middleman

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One Mark Questions

1. What is internal trade?

Answer

Answer: Buying and selling of goods and services within the boundaries of a nation is referred as internal trade.

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2. What is wholesale trade?

Answer

Answer: Wholesale trade refers to buying and selling of goods and services in large quantities for the purpose of resale or intermediate use.

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3. Who is a wholesaler?

Answer

Answer: Wholesaler is a person who buys goods from the producers in bulk quantities and sells them in small quantities to a retailer.

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4. What is retail trade?

Answer

Answer: Retail trade refers to sale of goods in small quantities for the final consumptions.

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5. Who is a retailer?

Answer

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.

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6. Expand AVM.

Answer

Answer: Automatic Vending Machine

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7. Expand FOB

Answer

Answer: Free on Board

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8. Expand CIF

Answer

Answer: Cost, Insurance and Freight Price

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9. Expand E&OE

Answer

Answer: Errors and Omissions excepted

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10. Expand COD

Answer

Answer: Cash on Delivery

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11. Name any one type of internal trade.

Answer

Answer: Wholesale Trade

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12. State one type of Itinerant retailers.

Answer

Answer: Street Traders

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13. Give an example for small scale fixed retail shop.

Answer

Answer: Soaps, Hair oil and Tooth Paste

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14. Give an example for large scale fixed retail shop.

Answer

Answer: Spencer, Food world and reliance fresh

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15. Give an example for departmental stores.

Answer

Answer: Spencer

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16. Give an example for multiple shops.

Answer

Answer: Pizza Hut and Me. Donald

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17. Give an example for Super markets.

Answer

Answer: Reliance Fresh and Food world

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18. Give an example for malls.

Answer

Answer: Garuda Mall and Orion Mall

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19. Who are peddlers?

Answer

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.

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20. Who are Hawkers?

Answer

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.

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21. Who are cheap jacks?

Answer

Answer: Cheap jacks are petty retailers who have independent shops of a temporary nature in the business locality.

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