This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Business Studies Chapter 9 Internal Trade – Quiz 10 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 9 Internal Trade Quiz 10 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. A ..... is a continuing relationship in which franchisor provides licensed privilege to do business by another person. A) Chain shop. B) Partnership. C) Franchise. D) Trade. Show Answer Correct Answer: C) Franchise. 2. 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. 3. Services within the boundaries of a nation are referred to as A) External trade. B) Export. C) Internal trade. D) Import. Show Answer Correct Answer: C) Internal trade. 4. Spencer is an example for A) Hypermarket. B) Supermarket. C) Department store. D) None of the above. Show Answer Correct Answer: C) Department store. 5. 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. 6. 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. 7. 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. 8. 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. 9. 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. 10. Goods and services are those produced in one's home country. A) Domestic Goods. B) Gross Domestic Product. C) Increase. D) Export. Show Answer Correct Answer: A) Domestic Goods. 11. 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. 12. GST is an ..... tax. A) Direct. B) Old. C) Affordable. D) Indirect. Show Answer Correct Answer: D) Indirect. 13. 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. 14. 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. 15. 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. 16. 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. 17. 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. 18. 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. 19. The way that a ..... behaves when shopping is often complex. A) Consumer. B) Personal. C) Shop owner. D) Retail. Show Answer Correct Answer: A) Consumer. 20. What is the role of intermediaries in wholesale trade? A) Facilitate the distribution of goods. B) Manufacturing the goods. C) Selling directly to consumers. D) Transporting goods internationally. Show Answer Correct Answer: A) Facilitate the distribution of goods. 21. Cost price is ..... A) How much you pay for something. B) How much you sell something for. C) All the above. D) None of the above. Show Answer Correct Answer: A) How much you pay for something. 22. Which is not characteristics of super market A) Member of super bazar invest their own capital. B) This store remains in form of cooperative society. C) Goods sold on credit in super bazar. D) Situated at center of city. Show Answer Correct Answer: C) Goods sold on credit in super bazar. 23. A retailer who sells something that is intangible or does not last very long. A) General Merchandise Wholesaler. B) Manufacturer. C) Service Retailer. D) Producer. Show Answer Correct Answer: C) Service Retailer. 24. Which of the following is not a service offered by manufacturers to retailers A) Market support. B) Grant of credit. C) Risk sharing. D) Storage facilities. Show Answer Correct Answer: D) Storage facilities. 25. The traders who purchase in large quantities and sell in small lots to retailers are called ..... A) Wholesaler. B) Retailers. C) Producer. D) Marketer. Show Answer Correct Answer: A) Wholesaler. ← PreviousNext →Related 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 4Class 11 Business Studies Chapter 9 Internal Trade Quiz 5Class 11 Business Studies Chapter 9 Internal Trade Quiz 6Class 11 Business Studies Chapter 9 Internal Trade Quiz 7Class 11 Business Studies Chapter 9 Internal Trade Quiz 8Class 11 Business Studies Chapter 9 Internal Trade Quiz 9Class 11 Business Studies Chapter 9 Internal Trade Quiz 11 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books