Internal Trade Test - 4

A warehouse is a commercial building for storage of goods. Warehouses are used by manufacturers, importers, exporters, wholesalers, transport businesses, customs, etc. Stored goods can include any raw materials, packing materials, spare parts, components, or finished goods associated with agriculture, manufacturing and production. In Indian English a warehouse may be referred to as a godown.

Itinerant retailers are traders who do not have a standard place of business from which they operate. They keep moving with their shops from one location to another, in search of consumers. They deal in low priced customer products of day-to-day use like toiletry products, fruits and vegetables, etc.

With the coming of Malls, the consumers get a wide variety to chose from. The customers get variety of brands under one roof which makes it convenient for them to shop. Moreover due to its various advantages, it attracts a large section of society. 

Wholesalers can check the price fluctuations in the market by holding back the goods when prices fall and releasing the goods when prices raise. When the price of goods in the market is low, the wholesalers may decide to hold the goods back which result in short supply and high demand. As a result of this, the price of goods in the market increases. Consequently the wholesalers then increase the ceased supply in the market.

Tele-shopping means the ordering of goods by customers using a telephone or direct computer link. It It helps disabled and elderly people to conveniently order goods without going anywhere.

Retailer offers facilities of after sales services to its customers. Aftersale service is all the help and information that it provides to customers after they have bought a particular product. They address the services from the company to the customers.

Wholesaler trade refers to purchase and sale of commodities and services in huge/large quantities for the purpose of resale or intermediate use.

Super market allows the customers to check variety of products under one roof at a low cost. Customers can buy anyhing from groceries to books,etc at reasonable prices.

Market Trader refers to the person who sell their goods in periodical markets such as weekly or monthly. They sell their goods through stalls in such markets.

 Middleman is an intermediary or agent between two parties; especially :  a dealer, agent, or company intermediate between the producer of goods and the retailer or consumer for promotion of trade.

Value Added Tax is the new tax imposed instead of sales tax in different states. It is a type of consumption tax that is placed on a product whenever value is added at a stage of production and at final sale. The rates of Vat are different for different states.

Import means purchase of goods from a foreign country. They are foreign goods and services bought by residents of a country. They can be shipped, sent by email or even hand-carried in personal luggage on a plane. If they are produced in a foreign country and sold to domestic residents, they are imports.

Chain Stores refer to a chain of retail stores at different locations in a country that are run and managed by the same oraganisation. They provide a limited selection of goods because they sell goods that are produced by their oraganisation itself.

Vending machines are costly to establish which is one of its limitations. One of the shortfalls is that this technology gives no provision for bargaining and therefore fixed prices apply.

ICICI is a banking company and not concerned with Chambers of Commerce & Industry

NDTV News Channel is a media company.

General Stores come under Fixed Shop Small Retailers. These shops provide products which are required to satisfy the day to day requirements of the customers like stationery, household items. They maintain permanent establishment in a locality.

Wholesale Trader is the person who buys and sells goods and services in large quantities for the purpose of resale or intermediate use. They buy in bulk quantities unlike retail traders and sell them to retailers who ultimately sell the goods to end consumers.

The principal-agent relationship is an arrangement in which one entity legally appoints another to act on its behalf. In a principal-agent relationship, the agent acts on behalf of the principal and should not have a conflict of interest in carrying out the act. 

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.

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.

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. 

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.

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".

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.

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.

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

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.

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.