MCQs For NCERT Class 11 Business Studies Chapter 10 Internal Trade

MCQs Class 11

Please refer to the MCQ Questions for Class 11 Business Studies Chapter 10 Internal Trade with Answers. The following Internal Trade Class 11 Business Studies MCQ Questions have been designed based on the latest syllabus and examination pattern for Class 11. Our experts have designed MCQ Questions for Class 11 Business Studies with Answers for all chapters in your NCERT Class 11 Business Studies book.

Internal Trade Class 11 MCQ Questions with Answers

See below Internal Trade Class 11 Business Studies MCQ Questions, solve the questions and compare your answers with the solutions provided below.

Question. Which of the following is not an advantage of mail-order business?
(a) It required less capital.
(b) There is no risk of bad debts.
(c) It is not suitable for illiterates.
(d) Home delivery of goods is possible.

Answer

C

Question. To which of the following would the mercantilists have objected?
(a) Free trade
(b) Stimulating Exports
(c) Accumulation of gold by their nation
(d) Restraining imports

Answer

A

Question. Which of the following is an advantage of chain stores:
(a) Elimination of middlemen
(b) No bad debts
(c) Low cost
(d) All of the above

Answer

D

Question. Which among the following is not concerned with Chambers of Commerce & Industry
(a) CII
(b) FICCI
(c) ICICI
(d) ASSOCHAM

Answer

C

Question. On the basis of geographical location of buyers and sellers, trade can be classified into:
(a) Internal trade and external trade
(b) Buying trade and selling trade
(c) Commerce and trade
(d) None of the above

Answer

A

Question. Goods imported for the purpose of export is known as
(a) Home trade
(b) Foreign trade
(c) Entrepot
(d) Trade

Answer

C

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

Answer

B

Question. ____ 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

C

Question. A difference in relative commodity prices between two nations can be based upon difference in
(a) Factor endowment
(b) Technology
(c) Taste
(d) All of the above

Answer

A

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

Answer

D

Question. The retailer plays as a link between
(a) Consumer and manufacturer
(b) Consumer and wholesaler
(c) Manufacturer and wholesaler
(d) He doesn’t link any

Answer

B

Question. Which is not related to the trade by moving from one place to another:
(a) Hawkers
(b) Street sellers
(c) Pedlars
(d) Street shops.

Answer

D

Question. Retailers help in promotion of sale of products, is this a service rendered by retailers to manufacturers:
(a) True
(b) Partially true
(c) False
(d) None of the above

Answer

A

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

Answer

A

Question. Which is not example of big scale retail shop:
(a) Departmental store
(b) Super bazar
(c) Multiple shop
(d) Mail store.

Answer

D

Question. Small retailers who are commonly found at places with huge population are called _______
(a) Market traders
(b) Second hand goods shop
(c) Peddlers and hawkers
(d) Street retailers

Answer

D

Question. The personnel in chain stores have to obey the instructions received from
(a) Branch supervisor
(b) General Manager
(c) Head office
(d) Board of Directors

Answer

C

Question. Which type of retailers provides door to door services to their customers
(a) Street traders
(b) Peddlers and hawkers
(c) General stores
(d) Street stall holders

Answer

B

Question. Sale of specific line of products by these vendors.
(a) Speciality shops
(b) Mail Order Houses
(c) Secondhand goods shops
(d) Departmental stores

Answer

A

Question. Wholesale trade refers to
(a) Exporting goods and services
(b) Importing goods and services
(c) Buying and selling of goods and services in large quantities
(d) Buying and selling of goods and services in small lots

Answer

C

Question. Which of the following is not the type of goods sold by speciality shops:
(a) Children’s garment
(b) Ladies shoes
(c) Toys and gifts
(d) Used books

Answer

D

Question. Lack of initiative in the employees while dealing with customers in chain stores results in
(a) Lack of personal touch
(b) Low sales
(c) Conflicts
(d) Loose the customers

Answer

A

Question. Retailers who have no fixed place of sale are called_____
(a) Itinerant retailers
(b) Street traders
(c) Market traders
(d) Hawkers

Answer

A

Question. Chain stores usually sells the products.
(a) Produced by themselves
(b) Produced by producers
(c) Produced by others
(d) Supplied by others

Answer

A

Question. Which of the following is a service offered by wholesaler to retailer
(a) Facilitate production continuity
(b) Facilitates large scale production
(c) Risk sharing
(d) Storage

Answer

C

Fill in the blanks:

Question. Depatmental stores are generally located at a _________ .

Answer

Central place

Question. Internal trade is classified into two categories __________ and ________ trade. 

Answer

Internal and external 

Question. Secondhand goods shops sell their goods at _________ prices. 

Answer

lower 

Question. There is absence of after sales services in case of __________ retail outlets.

Answer

Mail order house

Question. Export and supplies to SEZ are ___________ rated. 

Answer

zero 

Question. The traders dealing in retail trade are called _________.

Answer

Retailers 

Question. The traders dealing in bulk merchandised are called as _________ . 

Answer

Wholesaler

True / False:

Question. Retailers help the producers in the process of actualizing the sale of the products.

Answer

True

Question. In departmental stores both sale & purchase is centralized.

Answer

False

Question. The government of India implemented GST from the year 2017.

Answer

True

Question. Retailers sale and purchase goods in relatively small quantity to ultimate consumers,

Answer

True

Question. One of the tax rate from the slabs of GST is 26 Percent.

Answer

False

Question. The wholesaler performs various marketing functions and provide support to the consumers.

Answer

False

Match the following: 

Question. On the basis of limitation of Large scale retailer

1. Lack of personal attention(a) Mail order
2. Delayed delivery(b) Departmental store
(c) Multiple shops
Answer

1-(b), 2-(a)

Question. On the basis of features of departmental store

1. Provides all facilities(a) Located in the heart of city
2. Location(b) Helps in eliminating undesirable middleman
(c) Resturant, travel & information bureau, telephone booth, rest room etc
Answer

1-(c), 2-(a)

Question. On the basis of advantage of mail order house

1. Limited capital requirement(a) Goods sent to all the places having postal services.
2. Absence of Bad debt(b) Goods are delivered at the door step
3. Convenience(c) Does not require heavy expenditure on building & other
infrastructural facilities.
4. Wide reach(d) Do not extend credit facilities to customers
Answer

1-(c), 2-(d), 3-(b), 4-(a).

Question. On the basis of features of mail order house

1. No direct contact(a) Goods may be sent through VPP
2. No risk of bad debts(b) Goodsare handed over to the buyers only after full payment.
(c) Contact through mail
Answer

1-(c), 2-(b)

Question. On the basis of disadvantages of Large fixed shop retailers.

1. Lack of personal Attention(a) Chain Stores
2. Limited selection of goods(b) Departmental Stores
(c) General Stores
Answer

1-(b), 2-(c)

Question. On the basis of services of retailer to consumer

1. Provides the consumer with choices out of many options(a) After sale services
2. Situated near to residential areas and remain open for long
hours
(b) Regular availability of products
(c) Wide selection
(d) Convenience in buying
Answer

1-(c), 2-(d)

Pictorial Questions:

Question. Identify any one service of retailer to wholesaler.

MCQs For NCERT Class 11 Business Studies Chapter 10 Internal Trade
Answer

warehousing or storing

Question. Identify the type of fixed shop large scale retailer.

MCQs For NCERT Class 11 Business Studies Chapter 10 Internal Trade
Answer

Departmental store

Question. Intermediary who is buying the goods in bulk quantity

MCQs For NCERT Class 11 Business Studies Chapter 10 Internal Trade
Answer

Wholesaler

Question. With the help of given picture identify any one feature of GST

MCQs For NCERT Class 11 Business Studies Chapter 10 Internal Trade
Answer

Indirect taxes of the centre & states are integrated under the GSt.

Question. Identify the form of business in which this type of document is used.

MCQs For NCERT Class 11 Business Studies Chapter 10 Internal Trade
Answer

mail order house

MCQs For NCERT Class 11 Business Studies Chapter 10 Internal Trade