This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Business Studies Chapter 9 Internal Trade – Quiz 7 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 9 Internal Trade Quiz 7 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. ..... run a temporary shop in business locality. A) Cheap jacks. B) Market traders. C) Street traders. D) Hawkers. Show Answer Correct Answer: A) Cheap jacks. 2. Select the service which is provided by retailers to consumers. A) New product information. B) Wide selection. C) After-sale services. D) All of the above. Show Answer Correct Answer: D) All of the above. 3. Which of the following is a service provided by retailers to consumers? A) Facilitating large scale production. B) Bearing business risks. C) Providing credit facilities. D) Collecting market information. Show Answer Correct Answer: C) Providing credit facilities. 4. Buying goods in large quantities and selling in small lots A) Retailer. B) Consumer. C) Producer. D) Wholesaler. Show Answer Correct Answer: D) Wholesaler. 5. What is meant by wholesale trade? A) Import of goods and services. B) Export of goods and services. C) Buying and selling of goods and services in bulk. D) Buying and selling of goods and services in small quantities. Show Answer Correct Answer: C) Buying and selling of goods and services in bulk. 6. Which of the following is a characteristic of fixed shop retailers? A) They operate without any inventory. B) They deal only in low-value items. C) They have a permanent establishment. D) They frequently change locations. Show Answer Correct Answer: C) They have a permanent establishment. 7. Trade is part of A) Banking. B) Insurance. C) Transportation. D) Commerce. Show Answer Correct Answer: D) Commerce. 8. What is the role of intermediaries in retail trade? A) Intermediaries have no role in the distribution process. B) Intermediaries only work with wholesalers and not directly with consumers. C) Intermediaries are responsible for manufacturing the goods. D) Intermediaries facilitate the distribution of goods and services between producers and consumers. Show Answer Correct Answer: D) Intermediaries facilitate the distribution of goods and services between producers and consumers. 9. Survival in a business situation means: A) Making products cheaper than competitors. B) Making sure the business continues to operate. C) Making less profit than last year. D) Providing good service rather than making profit. Show Answer Correct Answer: B) Making sure the business continues to operate. 10. 6 What is the exemption limit for a person to pay GST? A) 10 Lakh. B) 30 Lakh. C) 20 lakh. D) 40 lakh. Show Answer Correct Answer: C) 20 lakh. 11. An item that one buys A) Purchase. B) Assume. C) Bargain. D) Retail. Show Answer Correct Answer: A) Purchase. 12. What is the role of middlemen in trade? A) To increase the price of goods unnecessarily. B) To facilitate the movement of goods from manufacturers to shops. C) To produce goods for consumption. D) To eliminate the need for markets. Show Answer Correct Answer: B) To facilitate the movement of goods from manufacturers to shops. 13. Intermediaries that buy goods in large quantities from wholesalers and sells them in small quantities to the ultimate consumers are known as ..... A) Manufacturer. B) Wholesalers. C) Retailers. D) Suppliers. Show Answer Correct Answer: C) Retailers. 14. Which service provided by wholesalers helps retailers avoid risks such as storage, pilferage, and demand fluctuations? A) Marketing support. B) Risk sharing. C) Specialised knowledge. D) Grant of credit. Show Answer Correct Answer: B) Risk sharing. 15. Which type of retailer opens their shops on fixed days or dates, such as every Saturday or alternate Saturdays? A) Street traders. B) Cheap jacks. C) Market traders. D) Fixed shop retailers. Show Answer Correct Answer: C) Market traders. 16. Wholesaling is concerned with the activities of those persons or establishments which sell goods to A) Retailers. B) Industrial uses. C) Commercial uses. D) All of the above. Show Answer Correct Answer: D) All of the above. 17. Which of the following is a characteristic of external trade? A) It involves the exchange of goods between countries. B) It occurs within a single country. C) It does not involve currency exchange. D) It is limited to local markets. Show Answer Correct Answer: A) It involves the exchange of goods between countries. 18. Wholesale trade refers to buying and selling of goods and services in ..... quantities for the purpose of resale or intermediate use. A) A) Small. B) Large. C) Moderate. D) All of the above. Show Answer Correct Answer: B) Large. 19. Why are wholesalers important in the distribution process? A) They reduce the cost of production. B) They eliminate the need for retailers. C) They connect producers to a large number of buyers. D) They set the prices of goods. Show Answer Correct Answer: C) They connect producers to a large number of buyers. 20. Diffusion of risk is an advantage of ..... A) Departmental stores. B) Multiple shops. C) Super markets. D) Mail order houses. Show Answer Correct Answer: B) Multiple shops. 21. Which of the following options list the elements of the distribution channel in the correct order? A) Manufacturer, Wholesaler, Retailer, Customer. B) Wholesaler, Customer, Manufacturer, Retailer. C) Retailer, Manufacturer, Customer, Wholesaler. D) Manufacturer, Retailer, Wholesaler, Customer. Show Answer Correct Answer: A) Manufacturer, Wholesaler, Retailer, Customer. 22. What is the main purpose of retail trade? A) To offer financial services to businesses. B) To manufacture goods for industrial use. C) To sell goods and services to consumers for their personal use. D) To provide healthcare services to the community. Show Answer Correct Answer: C) To sell goods and services to consumers for their personal use. 23. What distinguishes fixed shop retailers from itinerant retailers? A) They have a fixed place of sale. B) They deal in low-priced items. C) They move from place to place. D) They sell goods at temporary locations. Show Answer Correct Answer: A) They have a fixed place of sale. 24. Ethics are based on A) Political values. B) Moral values. C) Social values. D) None of these. Show Answer Correct Answer: B) Moral values. 25. When buying and selling of goods and services is done with the objective of earning profit, it is called as ..... A) Trade. B) Service. C) Commerce. D) None. Show Answer Correct Answer: A) 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 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 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