MCQ on Internal Trade
Internal trade is the other name for the domestic trade, which refers to the buying and selling of goods within the boundaries of a nation. The buying and selling process takes place between the buyers and sellers who are living in the same locality, town, city. A nation will generate most of its GDP from the internal trade taking place in the country.
Following are some of the internal trade multiple choice questions and answers that will help the students in brushing up their understanding of the concept of internal trade
MCQ on Internal Trade
1. Purchasing goods from a foreign country is called
A. Import
B. Entrepot
C. Export
D. Re-Export
Answer: A
2. Goods imported for the purpose of export is known as
A.Home trade
B. Foreign trade
C. Entrepot
D. Trade
Answer: C
3. Agents are appointed by?
A. Manufacturer
B. Wholesaler
C.Retailer
D.Principal
Answer: D
4. Who among these can check the price fluctuations in the market by holding back the goods when prices fall and releasing the goods when prices rise
A.Agent
B.Mercantile agent
C.Wholesaler
D. Retailer
Answer: C
5. These are agents whose function is to bring the buyer and the seller into contact.
A.Commission agent
B. Selling agent
C.Broker
D.Stockist
Answer: C
6. Who among the following appoints the agent
A. Principal
B. Retailer
C. Manufacturer
D.Wholesaler
Answer: A
7. Which among the following is not concerned with Chambers of Commerce & Industry
A.CII
B.FICCI
C.ICICI
D.ASSOCHAM
Answer: C
8. Mobile traders who deal in low priced articles with no fixed place of business are called
A. Street stalls
B.Retailers
C. Agents
D.Itinerant traders
9. One example of Small scale Fixed retailers among these is
A. Pedlars
B.General stores
C.Hawkers
D. Cheap Jacks
Answer: B
10. This retail business acts as a universal supplier of a wide variety of products.
A.Multiple shop
B.Mail order Business
C.Tele-shopping
D.Departmental store
Answer: D
