This quiz works best with JavaScript enabled. Home > Cbse > Class 11 > Commerce > Business Studies > Class 11 Business Studies Chapter 9 Internal Trade – Quiz 4 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 9 Internal Trade Quiz 4 (60 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which of the following is a feature of a departmental store? A) Selling only groceries. B) Door-to-door service. C) Self-service only. D) Varied products under one roof. Show Answer Correct Answer: D) Varied products under one roof. 2. What are the main types of internal trade? A) Wholesale trade, retail trade, e-commerce. B) Barter trade. C) Export trade. D) Import trade. Show Answer Correct Answer: A) Wholesale trade, retail trade, e-commerce. 3. Which of the following typically rises during a recession? A) Average income. B) Unemployment. C) Stock prices. D) Production. Show Answer Correct Answer: B) Unemployment. 4. What is one of the services provided by retailers to consumers? A) Regular availability of products. B) Manufacturing goods. C) Wholesale selling. D) None of the above. Show Answer Correct Answer: A) Regular availability of products. 5. Which of the following services is commonly provided by fixed shop retailers? A) Selling products at discounted rates. B) Home delivery and credit facilities. C) Operating on a temporary basis. D) Selling only non-durable goods. Show Answer Correct Answer: B) Home delivery and credit facilities. 6. What role do middlemen play in internal trade? A) Middlemen are responsible for manufacturing goods. B) Middlemen play a crucial role in facilitating transactions, reducing costs, and improving market efficiency in internal trade. C) Middlemen have no impact on market efficiency. D) Middlemen only increase prices for consumers. Show Answer Correct Answer: B) Middlemen play a crucial role in facilitating transactions, reducing costs, and improving market efficiency in internal trade. 7. Which of the following are examples of fixed stores A) Departmental stores. B) Chain stores or multiple shops. C) Both a and b. D) Neither a nor b. Show Answer Correct Answer: C) Both a and b. 8. Internal trade classified into ..... parts, which are ..... A) 3, domestic trade, inland trade, home trade. B) 2, wholesale trade, retail trade. C) 2, itinerant trade, fixed shop trade. D) None of these. Show Answer Correct Answer: B) 2, wholesale trade, retail trade. 9. What is the primary benefit of retailers providing after-sales services? A) Reduces marketing costs. B) Enhances customer satisfaction and loyalty. C) Eliminates the need for wholesalers. D) Increases production efficiency. Show Answer Correct Answer: B) Enhances customer satisfaction and loyalty. 10. Which type of trade usually involves lower prices per unit? A) Retail trade. B) Bulk or wholesale trade. C) Luxury trade. D) Exclusive trade. Show Answer Correct Answer: B) Bulk or wholesale trade. 11. Which type of trade is more focused on building relationships with businesses and organizations? A) P2P (Peer to Peer) trade. B) B2C (Business to Consumer) trade. C) C2C (Consumer to Consumer) trade. D) B2B (Business to Business) trade. Show Answer Correct Answer: D) B2B (Business to Business) trade. 12. Usually high income group of customers who give more weightage to value added services rather than the prices of the product visit these stores A) Departmental stores. B) Multiple Stores. C) General stores. D) All of the above. Show Answer Correct Answer: A) Departmental stores. 13. Price is same in: A) Retail trade. B) Chain shop. C) Super bazar. D) None of these. Show Answer Correct Answer: B) Chain shop. 14. The difference between the wholesale price and retail price A) Discount Percentage. B) Markdown. C) Cost-Benefit Analysis. D) Markup. Show Answer Correct Answer: D) Markup. 15. Which of the following is NOT a characteristic of internal trade? A) Involves buying and selling within a country. B) Requires customs duties and import taxes. C) Can be classified into wholesale and retail trade. D) Contributes to economic growth. Show Answer Correct Answer: B) Requires customs duties and import taxes. 16. Which of the following service is not provided by the wholesalers to retailers? A) Marketing support. B) Production continuity. C) Availability of goods. D) Risk sharing. Show Answer Correct Answer: B) Production continuity. 17. What is internal trade? A) Trade involving retailers only. B) Trade between countries. C) Trade involving wholesalers only. D) Trade within a country. Show Answer Correct Answer: D) Trade within a country. 18. Everybody loves getting a ..... A) Purchase. B) Cost. C) Retail. D) Bargain. Show Answer Correct Answer: D) Bargain. 19. Which type of business buys large amounts of good and sells them to retailers? A) Manufacturing. B) Wholesale. C) Retail. D) None of the above. Show Answer Correct Answer: B) Wholesale. 20. ..... sells goods at different places on fixed days. A) Street traders. B) Cheap jacks. C) Market traders. D) Hawkers. Show Answer Correct Answer: C) Market traders. 21. Big Bazar is the example of ..... A) Departmental stores. B) Chain stores. C) Shop. D) General stores. Show Answer Correct Answer: A) Departmental stores. 22. What is the primary benefit of trade? A) Reduced international relations. B) Increased unemployment. C) Access to a wider variety of goods. D) Limited market access. Show Answer Correct Answer: C) Access to a wider variety of goods. 23. Goods or services sold from producers directly to the final user, no middlemen A) Indirect channel. B) Direct Channel. C) All the above. D) None of the above. Show Answer Correct Answer: B) Direct Channel. 24. What is the liability of members in a consumer cooperative store? A) Unlimited liability for all members. B) Limited to the extent of the capital contributed by them. C) Liability depends on the profits earned. D) Liability is shared equally among all members. Show Answer Correct Answer: B) Limited to the extent of the capital contributed by them. 25. ATM stands for ..... A) Automated teller machine. B) Automated time money. C) Automatic teller machine. D) Any time money. Show Answer Correct Answer: A) Automated teller machine. 26. The price a consumer pays for an item A) Discount Price. B) Markup Percentage. C) Retail Price. D) Wholesale price. Show Answer Correct Answer: C) Retail Price. 27. Which of the following is a challenge faced by businesses in internal trade? A) Lack of demand. B) Export restrictions. C) High transportation costs within the country. D) Currency fluctuations. Show Answer Correct Answer: C) High transportation costs within the country. 28. Traders who keep on moving from place to place to sell their goods is known as A) Manufacturer. B) Whole-sale trader. C) Itinerant retailers. D) Retail traders. Show Answer Correct Answer: C) Itinerant retailers. 29. Retailing comprises of all the business activities that add value to the products and services customers buy. This includes: A) Merchandise assortment. B) Packaging. C) Customer Service. D) Merchandise assortment, packaging, customer service. Show Answer Correct Answer: D) Merchandise assortment, packaging, customer service. 30. Mail order houses get orders and send goods by: A) Hawkers. B) Mail. C) Shops Mail Hawkers Agents. D) Agents. Show Answer Correct Answer: B) Mail. 31. Service sector companies include which of the following A) Cellular phone producers. B) Banks and investment managers. C) Automotive producers. D) Wholesalers. Show Answer Correct Answer: B) Banks and investment managers. 32. Spot the odd one A) Producer. B) Bank. C) Wholesaler. D) Consumer. Show Answer Correct Answer: B) Bank. 33. Which is not characteristic of wholesaler: A) (a) Selling goods on large scale. B) (b) Direct relation with customers. C) (d) Trade of limited goods. D) None of the above. Show Answer Correct Answer: B) (b) Direct relation with customers. 34. The sale of goods in small amounts or on a small scale. Examples are Ebeano, Shoprite, Game, or Spar. A) Retail. B) Agriculture. C) Manufacturing. D) Wholesale. Show Answer Correct Answer: A) Retail. 35. There is centralised purchase as well as centralised sale in ..... ? A) Departmental store. B) Chain store. C) Both a and b. D) None of the above. Show Answer Correct Answer: A) Departmental store. 36. Which of the following is not a fixed shop small retailer? A) Specialty shop. B) Street trader. C) Street stall holder. D) General store. Show Answer Correct Answer: B) Street trader. 37. Trade can be classified on the basis of location of buers and sellers as A) Internal trade. B) External trade. C) Internal and external trade. D) None. Show Answer Correct Answer: C) Internal and external trade. 38. Which one of the following is the fixed shop small retailer? A) Itinerant retailers. B) Specialty shops. C) Market Traders. D) Departmental stores. Show Answer Correct Answer: B) Specialty shops. 39. What is the main purpose of export trade? A) To sell goods at a higher price than the manufacturer. B) To buy goods in large quantities from manufacturers and sell them to retailers or other businesses. C) To only buy goods from retailers. D) To sell goods to other countries for consumption or resale. Show Answer Correct Answer: D) To sell goods to other countries for consumption or resale. 40. What are the typical customers of import trade? A) Manufacturers. B) Individual consumers. C) Service providers. D) Retailers, resellers, and other businesses that need products from other countries. Show Answer Correct Answer: D) Retailers, resellers, and other businesses that need products from other countries. 41. Mail order houses rely heavily on ..... A) Post. B) Service. C) Bank. D) Retailers. Show Answer Correct Answer: A) Post. 42. A ..... is a continuing relationship in which franchisor provides licensed privilege to do business by another person. A) Franchise. B) Chain shop. C) Trade. D) Partnership. Show Answer Correct Answer: A) Franchise. 43. Wholesaler is a chain between ..... and ..... A) Consumer and retailer. B) Manufacturer and retailer. C) Consumer and manufacturer. D) Wholesaler and another wholesaler. Show Answer Correct Answer: B) Manufacturer and retailer. 44. Services within the boundaries of a nation are referred to as A) External trade. B) Export. C) Import. D) Internal trade. Show Answer Correct Answer: D) Internal trade. 45. Spencer is an example for A) Hypermarket. B) Supermarket. C) Department store. D) None of the above. Show Answer Correct Answer: C) Department store. 46. Who are wholesalers? A) Buys goods directly from the retailers and sells them to the consumers. B) Buys goods directly from the producers and sells them to the retailers. C) All the above. D) None of the above. Show Answer Correct Answer: B) Buys goods directly from the producers and sells them to the retailers. 47. What are the key features of GST? A) It is applicable on the supply of goods. B) It is based on origin-based taxation. C) It has no tax on exports. D) Both A and C. Show Answer Correct Answer: D) Both A and C. 48. What are the types of retail stores based on product mix? A) General stores. B) Single line stores. C) Departmental stores. D) All of the above. Show Answer Correct Answer: D) All of the above. 49. Having this will help you obtain good bargains A) Patience. B) Integrity. C) Walk-Away Power. D) All of these. Show Answer Correct Answer: D) All of these. 50. Explain how middlemen can reduce transaction costs. A) Middlemen only benefit large corporations and not individual consumers. B) Middlemen eliminate the need for market information entirely. C) Middlemen increase transaction costs by complicating exchanges. D) Middlemen reduce transaction costs by facilitating exchanges, providing market information, and achieving economies of scale. Show Answer Correct Answer: D) Middlemen reduce transaction costs by facilitating exchanges, providing market information, and achieving economies of scale. 51. Goods and services are those produced in one's home country. A) Gross Domestic Product. B) Increase. C) Export. D) Domestic Goods. Show Answer Correct Answer: D) Domestic Goods. 52. Which of the following is NOT a Itinerant retailer? A) Peddlers and Hawkers. B) Street traders. C) Cheap jacks. D) Street stall holders. Show Answer Correct Answer: D) Street stall holders. 53. GST is an ..... tax. A) Direct. B) Indirect. C) Affordable. D) Old. Show Answer Correct Answer: B) Indirect. 54. Which one of the following is not called as internal trade? A) Inland trade. B) Domestic trade. C) Overseas trade. D) Home trade. Show Answer Correct Answer: C) Overseas trade. 55. The territorial spread of GST is the whole country, Excluding Jammu & Kashmir. A) A) True. B) B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) B) False. 56. Which of the following is NOT a benefit of GST for citizens? A) Reduction in overall tax burden. B) Development of a harmonised national market. C) Increased hidden taxes. D) More employment opportunities. Show Answer Correct Answer: C) Increased hidden taxes. 57. What does Errors and Omissions Excepted (E&OE) signify in trade documents? A) It refers to payment terms. B) It accounts for mistakes and things forgotten in trade documents. C) It refers to insurance charges. D) It refers to freight charges. Show Answer Correct Answer: B) It accounts for mistakes and things forgotten in trade documents. 58. Statement 1:Wholesale trade is trade of goods in bulk mostly from seller to seller ..... Statement 2:Retail trade is another word for Wholesale trade . A) Both 1 and 2 are true. B) 1 is true and 2 is false. C) 1 is false and 2 is true. D) Both are false. Show Answer Correct Answer: B) 1 is true and 2 is false. 59. How does a small industry start? A) People selling goods to one another. B) Farmers planting seeds. C) Lawyers drawing up contracts. D) None of the above. Show Answer Correct Answer: A) People selling goods to one another. 60. The way that a ..... behaves when shopping is often complex. A) Retail. B) Personal. C) Shop owner. D) Consumer. Show Answer Correct Answer: D) Consumer. ← PreviousNext →Related QuizzesCommerce QuizzesClass 11 QuizzesClass 11 Business Studies Chapter 9 Internal Trade Quiz 1Class 11 Business Studies Chapter 9 Internal Trade Quiz 2Class 11 Business Studies Chapter 9 Internal Trade Quiz 3Class 11 Business Studies Chapter 9 Internal Trade Quiz 5Class 11 Business Studies Chapter 9 Internal Trade Quiz 6Class 11 Business Studies Chapter 1 Business, Trade And Commerce QuizClass 11 Business Studies Chapter 10 International Business QuizClass 11 Business Studies Chapter 2 Forms Of Business Organisation Quiz 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books