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Samacheer Kalvi 11th Commerce Solutions Chapter 24 Retailing
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Samacheer Kalvi 11th Commerce Retailing Textbook Exercise Questions and Answers
I. Choose the Correct Answer
Retailers deal in ……………… quantity of goods.
Small scale Fixed retailers include ………………
(a) General stores
(c) Cheap Jacks
(a) General stores
Small shops which deal in a particular line of products are called as ………………
(a) Market traders
(b) Single line stores
(b) Single line stores
……………… are mobile traders Who deal in low priced articles with no fixed place of business.
(a) Shopping malls
(b) Super markets
(c) Street stalls
(d) Itinerant traders
(d) Itinerant traders
II. Very Short Answer Questions
What is Retailing?
Retailing is the process of selling the goods and services directly to the ultimate consumers in small quantities.
State the meaning of multiple shops.
A number of identical retail shops with similar appearance normally deal in standardised and branded consumer products established in different localities owned and operated by manufacturers or intermediaries are called as Chain stores or Multiple shops.
Mention any two benefits of Vending machines.
Automatic vending machine is a new form of direct selling. It is a machine operated by coins or tokens.
What are specialty stores?
Speciality S tores deal in a particular type of product under one product line only. For example, Sweets shop specialised in Tirunelveli Halwa, Bengali Sweets, etc.
III. Short Answer Questions
Explain the features of general stores.
General Stores sell a wide variety of products under one roof, most commonly found in a local market and residential areas to satisfy the day – to – day needs of the customers residing in nearby localities. They remain open for long hours at convenient timings and often provide credit facilities to their regular customers.
Give any four points of distinction between hire purchase system and installment system of selling.
Hire Purchase System:
- It is a system by which the seller agrees to sell the articles to the buyer on condition that the payment of the article will be made in a fixed number of instalments till the sale price is paid.
- Though the buyer gets possession of the goods immediately on signing the contract the ownership does not pass on till the payment of last instalment.
- The buyer prefers to pay a lump sum or a part of the price initially i.e., down payment and the balance in instalments as per the contract.
- The seller continues to be the owner of the article till then.
- Instalment system is a type of purchase in which the price amount of the product is not paid initially but in instalments.
- Title or ownership of articles as well as possession is passed on to the buyer as soon as the first instalment is paid.
- It is also called as deferred payment system.
- On default of payment, the seller cannot seize the article but recover the dues through court.
Explain the characteristics of super markets.
- Supermarkets are generally situated at the main shopping centres.
- The goods kept on racks with clearly labelled price and quality tags in such stores.
- The customers move into the store to pickup goods of their requirements, bring them to the cash counter, make payment and take home delivery.
What is meant by ‘mail order retailing’?
Mail order houses are the retail outlets that sell their merchandise through mail. There is generally no direct personal contact between the buyers and the sellers in this type of trading.
IV. Long Answer Questions
State the features of Departmental stores.
- Large Size: A department is a large scale retail showroom requiring a large capital investment by forming a joint stock company managed by a board of directors.
- Wide Choice: It acts as a universal provider of a wide range of products from low priced to very expensive goods (Pin to Car) to satisfy all the expected human needs under one roof.
- Departmentajly organised: Goods offered for sale are classified into various departments.
- Facilities provided: It provides a number of facilities and services to the customers such as restaurant, rest rooms, recreation, packing, free home delivery, parking, etc.
- Centralised puchasing: All the purchases are made centrally and directly from the manufacturers and operate separate warehouses whereas sales are decentralised in different departments.
What is meant by Consumer Cooperative Store? Explain its merits in brief.
A consumers cooperative store is a retail organisation owned, managed and controlled by the consumers themselves to obtain products of daily use at reasonable low prices. Its objective is to eliminate profits to middlemen by establishing a direct contact with the manufacturers.
People belonging to middle and low income groups, at least 25 persons have to come together 1 to form a voluntary association, and get it registered under the Cooperative Societies Act. The capital of a cooperative store is raised by issuing shares to members. The management of the store is democratic and entrusted to an elected managing committee, where “one man one vote” is the rule.
The cooperative stores are very famous in Tamil Nadu. For example, Kamadhenu and Chinthamani cooperative supermarkets in Chennai, Karpagam in Vellore, etc.
Describe the role of chambers of commerce in promotion of internal trade.
1. Transportation or inter – state movement of goods:
The Chambers facilitate registration of vehicles, surface transport policies, construction of highways and roads in promoting interstate movement of goods.
2. Harmonisation CGST and SGST structure.
3. Marketing of agro products and related issues:
The associations of agriculturists and other federations interact with farming cooperatives to streamline local subsidies and formulate marketing policies for selling agro products.
4. Weights and measures and prevention of duplication of brands:
They help the Government in formulation and implementation of uniform policies in weights and measures and prevention of duplication of brands.
5. Promoting sound infrastructure:
They interact with Government to construct roads, ports, electricity, railways, etc.
6. Labour legislation:
They interact with the Government on regular basis and the issues related to labour laws, retrenchments, compensation, etc., so that the industry can run efficiently, generate employment and achieve maximum productivity.
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