Wholesale and Retail Trade

Q. Which of the following are examples of wholesale trade?

1. Cloth vendor who sell to retailers
2. Restaurant food supplier
3. Shopkeeper in the neighbourhood
4. Christmas tree vendor who sells to customers

Q. Trade can be classified on which of the following basis?

1. On the basis of the type of product
2. On the basis of quantity
3. On the basis of quality
4. On the basis of region

Q. Assertion (A): A farmer sells wheat directly to the consumer.

Reason (R): When a producer sells directly to the consumers, it is called retail trade.

Which of the following is correct?

1. Both A and R are true, and R is the correct explanation of A.
2. Both A and R are true, but R is not the correct explanation of A.
3. A is true, but R is false.
   
4. A is false, but R is true.

Q. When traders buy goods directly from producers in huge quantities and sell to retailers, it is known as retail trade.

1. False
2. True

Q. Mrs. Arti buys furniture in huge quantities from Ganesh Limited, the manufacturer. Then she sells it to her customer, Mr. Naresh. Then, Mr. Naresh paints the furniture and finally sells it to the consumers.

Identify the correct options.

1. The buying of furniture by Mrs. Arti from the manufacturer is wholesale trade.
2. The buying of furniture by Mrs. Arti from the manufacturer is retail trade.
3. The buying of furniture by Mr. Naresh from Mrs. Arti is retail trade.
4. The buying of furniture by Mr. Naresh from Mrs. Arti is wholesale trade.

Q. On what basis is trade classified into wholesale and retail?

1. Place of trade
2. Time of trade
3. Quantity traded
4. Product traded