Test: Internal Trade - 1 - Commerce MCQ

To answer the given multiple-choice question, we need to identify the correct option based on the information provided. Let's break down the question and analyze the given options:
Question:
Q: ____________ sell their goods in periodical markets such as weekly or monthly.
Options:
A: Manufacturer
B: Market Trader
C: Consumers
D: Agents
Analysis:
To determine the correct answer, we need to understand the roles and functions of each option:
1. Manufacturer: Manufacturers are involved in producing goods. They are not directly involved in selling their goods in periodical markets.
2. Market Trader: Market traders are individuals or businesses that buy goods from manufacturers or wholesalers and sell them to consumers in markets. They often participate in periodical markets such as weekly or monthly markets.
3. Consumers: Consumers are the end-users who purchase goods for personal use. They do not sell goods in periodical markets.
4. Agents: Agents act as intermediaries between buyers and sellers. They facilitate the sale of goods but are not specifically associated with periodical markets.
Conclusion:
Based on the analysis, the correct answer is option B: Market Trader. Market traders are the ones who sell their goods in periodical markets such as weekly or monthly markets.

A mall is a large retail complex containing a variety of stores and often restaurants and other business establishments housed in a series of connected or adjacent buildings or in a single large building.
Certainly, when in such a huge structure and there are so many sellers it will attract large number of customers and provide wide choice to customers and convenience in shopping.

There are disadvantages of using the vending machine for both the owner and the customers. One of the shortfalls is that this technology gives no provision for bargaining and therefore fixed prices apply and this may be unfriendly both to the customer and the owner.

Fraud cases are also common in this kind of business by customers who formulate means of hacking into the system of the machine to dispense products.

Vandalism of the machine by unruly groups or jealous competitors and heavy taxation levied on the sites of location may be a discouragement for this capital intensive investment. There may be huge losses to the investor who faces cases of destruction of the machine or faulty programming like a continuous dispensing of product due to technical errors.

It is therefore important to be conversant with all the characteristics of the vending machine technology for business.

Commission: A commission is also an order for someone to do something and get paid: The artist received a commission for a new painting to hang in the building lobby. And a commission is a high-ranking position in the armed forces, or a special committee that controls or investigates something.

Definition of a Supermarket
A supermarket is a large retailing business unit that sells a wide variety of consumer goods under one roof. It is a self-service store that offers a broad range of products, including groceries, household items, clothing, electronics, and more. Supermarkets are designed to provide convenience and a one-stop shopping experience for consumers.
Key Characteristics of a Supermarket
- Wide Range of Products: Supermarkets offer a diverse selection of goods, catering to the needs of different customers. They stock a variety of brands, sizes, and flavors to meet various preferences.
- Self-Service: Customers are responsible for selecting their desired products and placing them in a shopping cart or basket. Supermarkets provide aisles and shelves that are organized in specific categories for easy navigation.
- Fixed Prices: Supermarkets display prices for each item, allowing customers to compare and choose products based on their budget and preferences.
- Checkouts: Supermarkets have multiple checkout counters where customers can pay for their purchases. They often offer various payment options, such as cash, credit cards, and digital wallets.
- Special Offers and Promotions: Supermarkets frequently offer discounts, promotions, and loyalty programs to attract customers and encourage repeat business.
- Convenience: Supermarkets are generally located in easily accessible areas, providing ample parking space and extended operating hours to accommodate customers' schedules.
Advantages of Supermarkets
- Convenience: Supermarkets offer a wide range of products in one location, saving customers time and effort by eliminating the need to visit multiple stores.
- Competitive Pricing: Due to their large scale and purchasing power, supermarkets can negotiate better deals with suppliers, resulting in competitive prices for customers.
- Variety and Choice: Supermarkets provide a vast selection of products, allowing customers to choose from different brands, sizes, and options.
- Efficiency: Self-service and organized store layouts make the shopping process more efficient, enabling customers to quickly find what they need.
- Specialized Sections: Supermarkets often have dedicated sections for specific product categories, such as fresh produce, bakery, deli, and pharmacy, providing convenience and specialization.
In conclusion, a supermarket is a retailing business unit that offers a wide variety of consumer goods under one roof. It provides convenience, choice, and competitive prices to customers, making it a popular shopping destination for many people.

Not a feature of Indian Malls:
- Different ownership: This is a feature of Indian malls, as they are usually owned by different individuals or companies.
- Large in size: Indian malls are known for their large size, offering a wide range of shops and facilities.
- 24x7 Shopping: This is not a feature of Indian malls. Most malls in India have fixed operating hours and are not open 24/7.
- Wide Range of products: Indian malls typically offer a wide variety of products, catering to different consumer needs and preferences.
Therefore, the correct answer is C: 24x7 Shopping. Indian malls do not usually operate 24/7 and have fixed operating hours like most malls worldwide.

Multiples or chain stores deal only in standard and selected goods. These shops Do not maintain variety. As all the shops are controlled from the central office, these shops cannot adjust to local conditions.
Eg. What you’ll get at a Burger King in Jaipur, you’ll get
Exact same thing in New Delhi.

Answer:
General Stores:
- General stores deal in different types of goods which are needed by local residents in their day-to-day life.
- They offer a wide range of products including groceries, household items, toiletries, stationery, and sometimes even clothing and electronics.
- These stores are usually small in size and are located in residential areas for easy access to the local population.
- General stores aim to cater to the immediate needs of the customers by providing convenience and a one-stop shopping experience.
Street stall holders:
- Street stall holders are small-scale vendors who set up temporary stalls or carts on the streets or sidewalks.
- They offer various goods such as street food, fruits, vegetables, snacks, toys, accessories, and other affordable items.
- Street stall holders play a crucial role in providing quick and inexpensive options for daily necessities to the local residents.
- These small businesses often contribute to the local economy and add vibrancy to the street life.
Single line stores:
- Single line stores specialize in a particular category of goods, such as clothing, footwear, electronics, or furniture.
- They offer a focused range of products within their niche and aim to provide a comprehensive selection in that specific category.
- Single line stores often have a larger inventory and a dedicated customer base who are interested in a particular type of product.
- These stores may have a larger physical space compared to general stores or street stalls, allowing for better display and more variety in their offerings.
Speciality shops:
- Speciality shops are retail establishments that focus on a specific product or service.
- They cater to niche markets by offering unique or high-quality products that are not easily found in general stores or supermarkets.
- Examples of speciality shops include gourmet food stores, bookshops, art supply stores, pet stores, and antique shops.
- These shops provide specialized knowledge, expertise, and a curated selection of goods to meet the specific needs and interests of their customers.

The supply chain concept originated in the discipline of marketing.

• Definition of supply chain: A supply chain refers to the entire process of delivering a product or service, from the initial sourcing of raw materials to the final delivery to the end consumer.


• Origin of the supply chain concept: The concept of supply chain management emerged in the 1980s as a response to the increasing complexity of business operations and the need for more efficient coordination among different entities involved in the production and delivery process.


• Evolution from marketing: The concept of supply chain management evolved from the field of marketing, specifically from the idea of "channel management." Channel management focuses on the distribution and marketing of products through various channels to reach the target market.


• Integration of operations, logistics, and production: While the supply chain concept originated in marketing, it quickly expanded to incorporate other disciplines such as operations, logistics, and production. These disciplines play crucial roles in managing the flow of goods and services throughout the supply chain.


• Importance of supply chain management: Effective supply chain management is essential for organizations to optimize costs, improve customer satisfaction, enhance product quality, and maintain a competitive advantage in the market.

Overall, while the supply chain concept originated in the discipline of marketing, it has since evolved to encompass various other disciplines, making it a multidisciplinary field that focuses on the efficient and effective management of the entire supply chain process.

A vending machine is an automated machine that provides items such as snacks, beverages, cigarettes and lottery tickets to consumers after money, a credit card, or specially designed card is inserted into the machine.The first modern vending machines were developed in England in the early 1880s and dispensed postcards. Vending machines exist in many countries, and in more recent times, specialized vending machines that provide less common products compared to traditional vending machine items have been created and provided to consumers.