CBSE Class 11 Business Studies HOTs Internal Trade

Question. Mention two advantages of a supermarket.
Answer : The two advantages of a supermarket are. • They have huge varieties of products to choose from with different colours and design. • Sales are done with an exchange of cash which is not a bad debt.

Question. What do you mean by internal trade?
Answer : Internal refers to the sale and purchase of goods and services within a boundary of a nation.

Question. State two examples of chain stores
Answer : The two examples of chain stores are Body shop and Walmart.

Question. Give two features of the supermarket.
Answer : The two features of the supermarket are
• Have different types and various products, food item, and grocery
• All the products are available under one roof.

Question. Give two limitations to the supermarket.
Answer : The two limitations of the supermarket are
• Customers do not have pay on credit option
• Supermarkets follow self-service, so customers might not get personal attention

Question. Define different types of fixed shop small retailers.
Answer : Different types of fixed shop small retailers are
• General Stores- They sell different types of products to satisfy customers day-to-day requirements. They open for a longer time and attract nearby customers and sometimes offer credit options too.
• Speciality Shop- They are specialized in selling only one special item instead of varieties of products.
• Street Shop- They mostly attract floating customers and the products they sell are usually cheaper. They supply products from the local market or wholesaler.
• Second-hand Shop- These shops sell second hand or used products, clothes, and furniture, etc. They sell their products at cheaper rates and are located mostly on the busy streets. Shops selling second-hand cars or two-vehicles have a reasonable infrastructure.