MCQ Chapter 10 Internal Trade Class 11 Business Studies

Please refer to Internal Trade MCQ Questions Class 11 Business Studies below. These MCQ questions for Class 11 Business Studies with answers have been designed as per the latest NCERT, CBSE books, and syllabus issued for the current academic year. These objective questions for Internal Trade will help you to prepare for the exams and get more marks.

Internal Trade MCQ Questions Class 11 Business Studies

Please see solved MCQ Questions for Internal Trade in Class 11 Business Studies. All questions and answers have been prepared by expert faculty of standard 11 based on the latest examination guidelines.

MCQ Questions Class 11 Business Studies Internal Trade

One Mark Questions

Question. 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.

Question. What is retail trade?
Answer: Retail trade refers to sale of goods in small quantities for the final consumptions.

Question. Expand AVM.
Answer: Automatic Vending Machine

Question. Expand CIF
Answer: Cost, Insurance and Freight Price

Question. Expand COD
Answer: Cash on Delivery

Question. State one type of Itinerant retailers.
Answer: Street Traders

Question. Give an example for large scale fixed retail shop.
Answer: Spencer, Food world and reliance fresh

Question. Give an example for multiple shops.
Answer: Pizza Hut and Me. Donald

Question. Give an example for malls.
Answer: Garuda Mall and Orion Mall

Question. 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.

MCQ Questions

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

Question. 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

Question. ____________ 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

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

Question. 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

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

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

Question. 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

Question. ____________ 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

Question. Which one of the following is not a part of export documents?
(a) Commercial invoice
(b) Mate’s receipt
(c) Certificate of origin
(d) Bill of entry

Question. Which theory holds that nation should produce those goods in which it has the greatest relative advantage?
(a) The factor endowment theory
(b) The theory of absolute cost advantage
(c) The theory of relative advantage
(d) None of the above

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

Question. General stores comes under the category of:
(a) Large stores
(b) Chain stores
(c) Departmental stores
(d) Fixed shop small retailers

Question. These are agents whose function is to bring the buyer and the seller into contact.
(a) Commission agent
(b) Selling agent
(c) Broker
(d) Stockist

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

Question. Where departmental store are famous:
(a) USA and Europe
(b) India
(c) China
(d) Pakistan.

Question. Purchase and sale of goods and services in_______quantity is referred to as wholesale trade:
(a) Small
(b) Little
(c) Large
(d) Slight

Question. Retail outlets that sell their merchandise through mail are called as:
(a) General stores
(b) Mail Order Houses
(c) Super markets
(d) Chain stores

Question. Which of the following is fixed shop large stores:
(a) Departmental stores
(b) Chain stores
(c) Multiple stores
(d) All of the above

Question. _______ means the raltive strength and elasticity of demand of two countries for each other product.
(a) devaluation
(b)Offer curve
(c) terms of trade
(d) none

Question. Difference in _______ are the basic cause of trade
(a) taste
(b) qualities
(c) price
(d) taxes

Question. Which is not characteristics of departmental store:
(a) Different departments
(b) Sole trade
(c) Under one roof
(d) Multiple management.

Question. The manufacturing of merchandise of the retail units in a chain store is centralised at the________:
(a) Owner’s house
(b) Store
(c) Departmental store
(d) Head office