Class 11 Business Studies Important Chapter 10 Internal Trade

Class 11 Business Studies Important Chapter 10 Internal Trade Solutions English Medium As Per AHSEC New Syllabus to each chapter is provided in the list so that you can easily browse through different chapters ASSEB Class 11 Business Studies Important Solutions and select need one. AHSEC Class 11 Business Studies Additional Notes English Medium Download PDF. HS 1st Year Business Studies Important Solutions in English.

Class 11 Business Studies Important Chapter 10 Internal Trade

Also, you can read the NCERT book online in these sections Solutions by Expert Teachers as per Central Board of Secondary Education (CBSE) Book guidelines. ASSEB Class 11 Business Studies Additional Question Answer are part of All Subject Solutions. Here we have given HS 1st Year Business Studies Important Notes in English for All Chapters, You can practice these here.

Internal Trade

Chapter: 10

Part – II: Corporate Organisation, Finance and Trade

IMPORTANT QUESTION AND ANSWER

Short Questions and Answers

1. What is internal trade?

Ans: Internal trade refers to the buying and selling of goods and services within the boundaries of a country. It involves domestic producers, wholesalers, retailers, and consumers without any customs or import duties.

2. Name two types of internal trade.

Ans: The two types of internal trade are wholesale trade and retail trade.

3. Define wholesale trade.

Ans: Wholesale trade involves the purchase and sale of goods in large quantities for the purpose of resale or intermediate use, typically by retailers and industrial users.

4. What is retail trade?

Ans: Retail trade involves the sale of goods in small quantities directly to the ultimate consumers for their personal or household use.

5. Name any two services wholesalers provide to manufacturers.

Ans: Wholesalers help manufacturers in large-scale production and bear risks related to storage and unsold goods.

6. Name two services retailers provide to consumers.

Ans: Retailers provide after-sales services and offer a wide selection of products to consumers.

7. Define itinerant retailers.

Ans: Itinerant retailers are small traders who do not have a fixed place of business and move from place to place to sell their goods directly to consumers.

8. Name two examples of itinerant retailers.

Ans: Hawkers and market traders.

9. What are chain stores?

Ans: Chain stores or multiple shops are networks of retail outlets owned and operated by a single organisation, selling standardised products at fixed prices.

10. Mention one feature of departmental stores.

Ans: A departmental store offers a wide variety of goods under one roof, arranged into separate departments for consumer convenience.

11. State one key feature of super markets.

Ans: Super markets operate on the principle of self-service and offer a wide range of consumer goods at reasonable prices.

12. What is a consumer cooperative store?

Ans: A consumer cooperative store is a retail outlet owned, managed, and controlled by consumers themselves to purchase goods at reasonable prices by eliminating middlemen.

13. What is the function of Chambers of Commerce in internal trade?

Ans: Chambers of Commerce promote internal trade by interacting with the government to simplify tax structures, remove barriers, and improve infrastructure.

14. What is GST?

Ans: Goods and Services Tax (GST) is a destination-based, single indirect tax levied on the supply of goods and services, replacing multiple indirect taxes in India.

15. Name two types of GST in India.

Ans: Central GST (CGST) and State GST (SGST).