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Internal Trade Test - 3

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Internal Trade Test - 3
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  • Question 1
    1 / -0

    ____________ are agents who merely bring the buyer and the seller into contact.

    Solution

    Brokers are agents who merely bring the buyer and the seller into contact. They execute the orders as per the buyer without physically involving the buyer in the transaction.

     

  • Question 2
    1 / -0

    It is a network of a number of branches situated at different localities in the city or in the different parts of the country.

    Solution

    Multiple shop is a network of a number of branches situated at different localities in the city or in the different parts of the country. A multiple shop consists of a number of similar shops owned by a single business firm. This is an attempt on the part of the manufacturers or the wholesalers to establish a direct link with the consumers by avoiding middlemen.

     

  • Question 3
    1 / -0

    ___________ is a large retailing business unit, which sell a wide variety of consumer goods under one roof.

    Solution

    Super market is a large retailing business unit, which sell a wide variety of consumer goods under one roof. It has separate departments for each item like food, household, stationery, etc. under one roof.

     

  • Question 4
    1 / -0

    Small scale Fixed retailers includes ____________

    Solution

    General Stores are the small scale retailers which provide the convenience of shopping to consumers at a fixed location. Other options are small scale but they do not provide a fixed location advantage to the consumers as they are constantly moving or selling goods in periodical markets.

     

  • Question 5
    1 / -0

    __________ deal in different types of goods which are needed by local residents in their day-to-day life.

    Solution

    General Stores deal in different types of goods which are needed by local residents in their day-to-day life such as stationery items, household items, etc. They come under the category of "Fixed shop small retailers".

     

  • Question 6
    1 / -0

    ____________ Provides the facility of 24x7 shopping at all major locations

    Solution

    Vending Machines provides the facility of 24x7 shopping at all major locations.They are coin operated machines which are used in selling products such as milk, soft drinks, snacks, etc. They can easily be self operated by customer any time.

     

  • Question 7
    1 / -0

    This retail business acts as a universal supplier of a wide variety of products.

    Solution

    Departmental store is a retail business which acts as a universal supplier of a wide variety of products. It offers a wide range of consumer goods in different product categories known as "departments" like clothing, furniture, home appliances, toys, cosmetics, etc.

     

  • Question 8
    1 / -0

    Which of the following is not a feature of Indian Malls?

    Solution

    Indian Malls does not provide 24x7 Shopping. They are open for the customers for reasonable hours during the day. 

     

  • Question 9
    1 / -0

    When goods are imported for the purpose of export is called as _________

    Solution

    When goods are imported for the purpose of export is called as Entrepot. An Entrepot or transshipment port is a port, city, or trading port where merchandise may be imported, stored or traded, usually to be exported again.

     

  • Question 10
    1 / -0

    The risk of bad debts in this business is eliminated particularly when payment is received through V.P.P.

    Solution

    The mail order houses can be defined as retail trading concerns doing business by mail wherein orders are received by post and goods are despatched by post parcel or railway parcel and payments are made through post or V.P.P. (value payable parcel). 

    The value payable system is designed to meet the requirements of persons who wish to pay  for articles sent to them at the time of receipt of the articles or of the   bills or railway   receipts relating   to them, and also to meet the requirements of traders   and others who wish   to   recover, through the agency of the Post Office the value of article supplied by them.

     

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