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

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

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