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1. Wholesale trade

2. local 

1. When goods are purchased in large quantity from the manufacturers or producers for the purpose of resale to retailers, then it is called as wholesale trade. 

2. The person doing wholesale business is called wholesaler. 

3. Wholesaler acts as a link between manufacturer and retailer.

1. retailer

2. wheel carts

(i) Large

(ii) in

(iii) One price shop

(iv) local

(i) large

(ii) large

(iii) single

(iv) same

1. Retail price are always higher than wholesale price. 

2. Retailer purchases goods from wholesaler then he adds his profit and finally he sells it to-the customers. 

3. Thus, retail price is higher than wholesale price.

Correct Answer is  Chain Shop

Wholesaler provides services to:

(A) Manufacturers and (B) Retailers 

(A) Services of Wholesalers to Manufacturers:

1. Finance Assistance : Wholesaler provides advance to the manufacturers, so they can do bulk production. Thus, manufacturer can maintain continuous flow of production. 

2. Collecting Order and Distribution of Goods : Wholesaler collects small orders of goods from the retailers then he collects the goods from manufacturer and distributes it to retailers. 

3. Large Purchase : Wholesaler purchases goods on large scale from the manufacturers and sells it to the retailers on behalf of the manufacturers. 

4. Transportation: Wholesaler sometimes carry the transportation function of manufacturer by himself. So cost and time of manufacturer is saved.

5. Risk Bearing: He takes a risk of buying goods in big quantity and storing them. This may sometimes lead him to loss. 

6. Provide Market Information : Wholesaler provides latest information of market condition to manufacturer. On the basis of this information manufacturer changes his production policies and regulates production activities. 

7. Marketing Function: Wholesaler carries many marketing functions like warehousing, advertising, sales promotion, etc. on behalf of manufacturer. 

8. Storage : The wholesaler provides storage facilities for the products manufacture by the producers. This helps them to fill up the time gap between production and consumption of goods.

(B) Services of Wholesaler to Retailers:

1. Financial Support: Wholesaler provides credit facility, discount facility and financial assistance to their retailers. 

2. Market Information : Wholesaler provides market information to retailers as he has link with various manufacturers. This information is very useful to retailers for purchase of goods. 

3. Risk Bearing : Retailer holds limited stock of goods and avoids the risk of spoilage of goods. Retailer get protected from increase or decrease of prices of goods and fluctuation of demand. 

4. Stock of Goods : Wholesaler stores the stock of goods for retailers, then retailer supply these goods to customers as per their demands. 

5. Warehousing and Transport: Wholesaler provides the facility of storing of goods as well as transport facility to retailers. They also do home delivery of goods to retailers. 

6. Regular Supply : Wholesaler assures regular supply of goods to the retailers. Risk of shortage of goods and price fluctuation is reduced. 

7. Sales Promotion : Wholesaler provides promotional facility to the retailer. He advertises on behalf of retailers and this helps the retailers to increase the sales.

Itinerant retailers are those retailers who do not have a fixed place or fixed shop for their business.

Retailers who do not move from one place to another for selling their goods are called fixed shop retailers.

Small Scale Fixed Shop Retailers:

Small scale fixed retailers usually run their business operations on a small scale and deal in limited fine of goods. Such shops are run by their owners with the help of assistants. These shops are situated in residential areas.

Types of Small Scale Shop Retailers: 

(i) General Stores : These shops are found in residential areas and offers shopping convenience to the customers. They deal in wide variety of goods so there is scope for choice. They deal in almost all household articles and goods of daily use. They provide credit facilities and have personal relation with their customers. They have fixed place of business so the customers have faith and confidence in dealing with them.

(ii) Second Hand Goods Shops : As the name indicates these shops deal in used or old goods and articles. They buy goods from individual and not from manufacturers or wholesalers. They repair or overhaul the items. 

They display them in their shops. Generally people from poor communities prefer to buy from these shops.

(iii) Authorised Dealers : These retailers have an authorized dealership of a particular manufacturer’s goods. They sell of consumers requirement goods like T.V. sets, mobile phones, washing machine, etc.

(iv) Speciality Shops : These retailers deal in particular line of goods. They keep a wide variety of items within the same line of products. They offer goods at reasonable prices. They are popular in cities and towns. They provide wide choice to customers. Normally they carry on business on cash basis.

1. False

2. False 

3. False

1. Cheap Jacks are mobile retailers. 

2. They hire temporary places for business in residential areas. 

3. If they do not get good response they move to other places. 

4. Thus, the cheap jack does not have a permanent place.

1. Type of Small Scale Retailer

2. fixed

Cheap jacks sells cutlery, crockery, socks, etc.

1. back or head

2. mobile

Mobile retailer who carry goods on their head or back and move from one place to another for selling are called Peddlers.

1. Wholesaler buys goods in large quantities from the manufacturer and sells it to the retailers according to their orders. 

2. Thus, wholesaler sells goods in large quantities.

Correct Answer is  A wholesaler

Correct Answer is  A retailer

1. False

2. True

3. True

Correct Answer is Wholesaler

Correct Answer is  A wholesaler

Correct Answer is  A wholesaler

When the value of exports is more than the value of imports it is called favourable balance of trade.

1. Bata Stores

2. Reliance Fresh

Domestic or internal trade is the trade that takes place within the geographical boundaries of one country. For eg. Trade between Maharashtra and Gujarat.

Correct option is (a) OPEC

Correct option is (b) unfavorable

The act of buying and selling is Trade.

Correct option is (d) Import

Correct option is (a) Trade

Correct option is (b) visible

1. fixed

2. large

Correct option is (b) Retail

Correct option is (a) wholesale

1. Each branch of a chain store deals in the same commodity or in the same line of products. 

2. This enables the store to give better guidelines to the customers. 

3. Thus, chain store sell a limited range of goods.

1. Manufacturers

2. residential

1. Packing plays an important role in selling products in the supermarket. 

2. Goods are duly packed by giving details of quantity, quality, weight, price, contents, date of manufacturing and date of expiry. 

3. This is helpful in handling the goods and also makes the goods more attractive and durable. 

4. Thus, packing plays an important role in selling product in the supermarket.

It is a large scale retail organization which sells a wide variety of goods to customers on the basis of self service.

1. mobile

2. small

1. large scale

2. baskets

1. weekly

2. single

3. export.

1. Itinerant

2. producer and consumer

(i) Gorhe and Son’s Market yard.

(ii) Nandulal grocery shop is the retailer.

(iii) Goods are sold to retailer for the purpose of sale by wholesaler. 

Goods are sold to customer for consumption by the retailer.

Quota Certificate, Order Placement, Letter of credit, Shipment Advice.

1. Wholesaler

2. consumer

1. False

2. False

3. False

1. Retailer is a link between wholesaler and customer. 

2. Retailer is the last link in the chain of distribution. 

3. They come in direct contact with customers. They also purchase goods from wholesaler and comes in direct contact with him. 

4. Thus, retailer in a link between manufacturer and wholesaler.

1. Receipt of Order : When the exporter receives an order he has to check the details of the order. He also check the restriction of import in the importer’s country. 

2. Letter of Credit : The exporter has to obtain a letter of credit from the importer, which is used to clear the foreign exchanges and other restrictions. 

3. Pre-shipment Finance : The exporter has to meet his working capital needs and for that he has to obtain the preshipment finance from his bankers.

4. Production of goods : If the exporter is a manufacturer, then he has to produce the goods according to the order placed by the importer, otherwise he has get the necessary goods arranged from his suppliers.