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A wholesaler who operates on a very large scale business and supplies goods to retailers in all parts of the country is known as:
Which of the following presents a disadvantage of barter system?
(iii) An official document used to correct undercharge of an invoice is called
(iv) Which of the following group presents a broad classification of occupations ?
(v) Prices below equilibrium price reflect:
(vi) An agent who sells goods of his principal in his own name is called
(vii) Which of the following presents the main feature of multiple shops?
(viii)Examples of free goods are
(xi) Which ofthe following is not included in commerce flow chart?
(x) What is the correct formula used to calculate working capital of the business?
2. Match items in List A with the responses in List B by writing the letter of the correct response below the number of the corresponding item in the table provided.
(ix) Taxes which are paid for imported goods before they leave the bonded warehouse.
(x) A document which shows the amount of goods which are in a warehouse for a particular importer
3. Complete the following sentences by filling in the blanks with the correct term(s).
(i) Goods and services that are sold outside the country are termed as . . . . . . .
(ii) The industries dealing with assembling of already manufactured goods into finished goods are called. . . . . . . .
(iii) A small scale retailer business which is owned by one person, offering a variety of goods from different manufacturers and had fixed premises is called . . . . . . .
(iv) The law which states that the lower the price the higher the quantity demanded and the vice versa is known as. . . . . . . .
(v) An auxiliary service which involves exchange of information between people or organization is known as . . . . . . .
(vi) The cost incurred in producing the extra unit of output is called
(vii) The commercial activity that deals with selling goods and services to other countries is called . . . . . . .
(viii)The last person to receive goods in the channel of distribution is called . . . . . . .
(ix) The arrangement of stocks in the warehouse or at the shop according to the date of their arrival is referred to as
(x) The resource in the form of money/materials or goods that a person or an organization used in commencing business is termed as . . . . . . .
4. Define the following terms with examples
(a) Durable goods.........................
(b) Consumer goods........................
(c) Indirect production......................
(d) Extractive industries.....................
(e) Departmental stores......................
5. Briefly explain six qualities of a good retailer
6. (a) Describe shift in supply curve.
(b) Draw a graph to show the inwards and outwards shift in supply curve.
(c) Describe five factors which cause a decrease in supply curve.
7. Explain six types of costs of production.
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