This quiz works best with JavaScript enabled. Home > Class 11 > 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 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Retail seller sold goods to: A) Wholesaler. B) Consumers. C) Departmental stores. D) All of the above. Show Answer Correct Answer: B) Consumers. 2. What is the key feature of internal trade? A) Trade happens within the boundaries of a country. B) Goods are exchanged for services only. C) Trade involves only local currencies. D) Goods are traded within a single city. Show Answer Correct Answer: A) Trade happens within the boundaries of a country. 3. Goods of these store are generally higher than the market prices A) Super Markets. B) Chain Stores. C) Consumer Cooperative Stores. D) Departmental Stores. Show Answer Correct Answer: D) Departmental Stores. 4. Retailers who have no fixed place of sale are called ..... A) Itinerant retailers. B) Street traders. C) Market traders. D) Hawkers. Show Answer Correct Answer: A) Itinerant retailers. 5. What are the typical customers of retail trade? A) Large corporations. B) Government agencies. C) Non-profit organizations. D) Individual consumers and households. Show Answer Correct Answer: D) Individual consumers and households. 6. Related to business A) Complex. B) Commercial. C) Complain. D) Common. Show Answer Correct Answer: B) Commercial. 7. What is considered retail selling according to the text? A) Selling goods to wholesalers. B) Selling goods directly to ultimate consumers. C) Selling goods to manufacturers. D) Selling goods in bulk quantities. Show Answer Correct Answer: B) Selling goods directly to ultimate consumers. 8. Products purchased for personal use A) Consumer. B) Industrial User. C) Final User. D) Retailer. Show Answer Correct Answer: A) Consumer. 9. What currency is used in internal trade? A) National currency. B) Foreign currency. C) Cryptocurrency. D) None of the above. Show Answer Correct Answer: A) National currency. 10. The keep on changing their business from one locality to another, depending upon the potentiality of the area. A) Peddlers and hawkers. B) Cheap jacks. C) Street traders. D) Market traders. Show Answer Correct Answer: B) Cheap jacks. 11. Which of these is not a feature of departmental store. A) Elimination of middlemen. B) Centralized buying and Decentralized selling. C) Shopping Convenience. D) Cash and Carry. Show Answer Correct Answer: D) Cash and Carry. 12. These store are also known as Multiple shops. A) Departmental stores. B) Chain stores. C) General stores. D) Hawkers. Show Answer Correct Answer: B) Chain stores. 13. How does internal trade promote competition among businesses? A) Internal trade promotes competition by expanding market access, encouraging innovation, and driving down prices. B) Internal trade reduces the number of businesses in the market. C) Internal trade has no impact on prices or innovation. D) Internal trade eliminates competition by creating monopolies. Show Answer Correct Answer: A) Internal trade promotes competition by expanding market access, encouraging innovation, and driving down prices. 14. Who are known to check price fluctuations by holding goods? A) Retailers. B) Wholesalers. C) Brokers. D) Agents. Show Answer Correct Answer: B) Wholesalers. 15. What is one of the risks that wholesalers bear? A) Risk of customer dissatisfaction. B) Risk of low sales. C) Risk of high production costs. D) Risk of theft. Show Answer Correct Answer: D) Risk of theft. 16. The last link with the ultimate consumer in the chain of distribution is ..... A) Manufacturer. B) Wholesaler. C) Retailer. D) None of these. Show Answer Correct Answer: C) Retailer. 17. A Chain Stores sells only one or two line of Goods is Known as A) Limited choice. B) Flexibility. C) Low Cost. D) Diffusion of risk. Show Answer Correct Answer: A) Limited choice. 18. Vending machine does not have the following disadvantage. A) Initial cost is high. B) Maintenance and repair cost are high. C) Cannot return the product. D) Convenient. Show Answer Correct Answer: D) Convenient. 19. If Spain's opportunity cost for producing wine is 1.5 cars and France's opportunity cost for producing wine is 0.8 cars, which country has a comparative advantage in wine production? A) France. B) Spain. C) All the above. D) None of the above. Show Answer Correct Answer: A) France. 20. These are a branch stores which are typically owned by a company or a franchise A) Departmental Stores. B) Chain Stores. C) Super Markets. D) Consumer Cooperative Stores. Show Answer Correct Answer: B) Chain Stores. 21. Which of the following statements is false regarding the mail-order business? A) Sell their merchandise through the mail. B) Customers are approached through advertisements. C) Direct personal contact between the buyers and the sellers. D) No bad debt. Show Answer Correct Answer: C) Direct personal contact between the buyers and the sellers. 22. ..... are the oldest form of retailers in the market place. A) Cheap jacks. B) Street traders. C) Peddlers and hawkers. D) Mail order houses. Show Answer Correct Answer: C) Peddlers and hawkers. 23. What is one major disadvantage of mail order business in terms of customer satisfaction? A) High promotion cost. B) No after sales service. C) Delayed delivery. D) High dependence on postal services. Show Answer Correct Answer: B) No after sales service. 24. Which of the following is not a service provided by retailers to Manufacturers and wholesalers A) Regular availability of products. B) Help in distribution of goods. C) Help in promotion of goods. D) Personal selling. Show Answer Correct Answer: A) Regular availability of products. 25. What is the last link in the distribution chain? A) Retail Trade. B) Wholesale Trade. C) Manufacturing. D) None of the above. Show Answer Correct Answer: A) Retail Trade. ← 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 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 10Class 11 Business Studies Chapter 9 Internal Trade Quiz 11 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books