Class XI Business Studies Chapter 10 - Internal Trade Notes
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Questions and Answers

Which of the following best describes internal trade?

  • Trading between two different countries
  • Import and export of goods
  • Buying and selling of goods and services within a country's border (correct)
  • International trade agreements

What is the primary function of wholesalers in the process of distribution?

  • Performing product grading and packing into smaller lots
  • Collecting market information
  • Selling directly to end users in considerable quantities
  • Enabling producers to reach a large number of buyers through retailers (correct)

Which category of trade refers to selling to retailers and other merchants but not to end users in considerable quantities?

  • Retail trade
  • International trade
  • Wholesale trade (correct)
  • Import and export trade

What utility do wholesalers provide by making products available in a specific location and time?

<p>Time and place utility (B)</p> Signup and view all the answers

What do wholesale traders enable producers to do through retailers?

<p>Reach a large number of buyers spread across a large geographic area (A)</p> Signup and view all the answers

What functions do wholesalers perform in the distribution process?

<p>All of the above (D)</p> Signup and view all the answers

What is one of the services wholesalers provide to manufacturers?

<p>Bearing risk of theft and spoilage (C)</p> Signup and view all the answers

How do wholesalers facilitate production continuity for manufacturers?

<p>By storing goods until demanded by retailers or consumers (A)</p> Signup and view all the answers

What is an example of financial assistance provided by wholesalers to manufacturers?

<p>Advance money for bulk orders (C)</p> Signup and view all the answers

What role do wholesalers play in helping manufacturers with marketing functions?

<p>Releasing manufacturers from many marketing activities (C)</p> Signup and view all the answers

What service do wholesalers provide to retailers in terms of goods availability?

<p>Providing diverse assortment of goods to retailers (A)</p> Signup and view all the answers

How do wholesalers support retailers in increasing the demand for new products?

<p>Providing marketing support to retailers (B)</p> Signup and view all the answers

What advantage do retailers gain from the credit provided by wholesalers?

<p>Increased working capital (A)</p> Signup and view all the answers

What type of knowledge do wholesalers specialize in and pass on to retailers?

<p>Understanding of the market for a particular product (A)</p> Signup and view all the answers

What risk can retailers avoid due to their partnership with wholesalers?

<p>Risk of pilferage during inventory management (C)</p> Signup and view all the answers

What type of utility do wholesalers provide through storage of goods?

<p>Time utility (A)</p> Signup and view all the answers

What are the primary functions of wholesalers in the distribution process?

<p>Product grading, packing into smaller lots, storage, transportation, promotion of goods, collection of market information</p> Signup and view all the answers

How do wholesalers provide time and place utility in the distribution of goods?

<p>By making the products available in a location where they are needed and at a time when they are needed for consumption or use</p> Signup and view all the answers

What benefits do retailers gain from the credit provided by wholesalers?

<p>Retailers gain financial assistance and flexibility in managing their inventory and cash flow.</p> Signup and view all the answers

How do wholesale traders enable producers to reach a large number of buyers and perform various distribution functions?

<p>They enable producers to reach a large number of buyers spread across a large geographic area (through retailers) and perform functions such as product grading, packing, storage, transportation, and promotion of goods.</p> Signup and view all the answers

What role do wholesalers play in helping manufacturers with marketing functions?

<p>Wholesalers assist in promoting goods and collecting market information, thus supporting manufacturers in marketing functions.</p> Signup and view all the answers

What type of utility do wholesalers provide by making products available in a specific location and time?

<p>Time and place utility</p> Signup and view all the answers

What are some of the risks borne by wholesalers in their business operations?

<p>Risks such as fall in prices, theft, pilferage, spoilage, and fire.</p> Signup and view all the answers

How do wholesalers help manufacturers in terms of cash flow?

<p>Wholesalers make cash payments, allowing manufacturers to avoid blocking their capital.</p> Signup and view all the answers

What role do wholesalers play in providing marketing assistance to manufacturers?

<p>Wholesalers release manufacturers from many marketing activities, enabling them to focus on production.</p> Signup and view all the answers

What is the primary function of wholesalers in relation to retailers?

<p>Wholesalers provide a diverse assortment of goods to retailers and handle the work of collecting goods from several producers.</p> Signup and view all the answers

How do wholesalers support retailers in terms of credit?

<p>Wholesalers usually provide credit to their frequent customers, enabling retailers to operate with a modest quantity of working cash.</p> Signup and view all the answers

What specialized knowledge do wholesalers possess and share with retailers?

<p>Wholesalers specialize on a single product line and have a good understanding of the market, which is further passed to the retailers.</p> Signup and view all the answers

How do wholesalers facilitate production continuity for manufacturers?

<p>Wholesalers facilitate production continuity by purchasing goods as and when they are produced and storing them until demanded by retailers or consumers.</p> Signup and view all the answers

What type of utility do wholesalers provide through storage of goods?

<p>Wholesalers provide time utility by storing goods until they are demanded by retailers or consumers.</p> Signup and view all the answers

How do wholesalers help retailers in increasing the demand for new products?

<p>Wholesalers are responsible for a variety of marketing duties and provide support to retailers, helping them in increasing the demand for various new products.</p> Signup and view all the answers

What functions do wholesalers perform in the distribution process?

<p>Wholesalers hold the inventory of goods, collect goods from several producers, and provide marketing support to retailers.</p> Signup and view all the answers

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