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Commerce · Class 11 Commerce

Ch 22Types of Trade — Class 11 Commerce, concept-first.

Commerce, as a wider subject, is generally understood to have two broad limbs: trade and the auxiliaries (or aids) to trade — activities such as transport, warehousing, banking, insurance, advertising and communication that make trade possible.

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Key concepts

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Trade

Trade is the branch of commerce concerned with the buying and selling of goods and services between a seller and a buyer, generally for a price, with the aim of earning profit.

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Chapter contents

The NCERT structure, section by section. Open a section to see its questions, then read the concept-first solution.

1

Meaning and Nature of Trade

Commerce, as a wider subject, is generally understood to have two broad limbs: trade and the auxiliaries (or aids) to trade — activities such as transport, warehousing, banking, insurance, advertising…

2

Classification of Trade — Internal and External

Trade is broadly classified on the basis of the geographical area within which it is carried on. This gives us two principal categories: internal trade (also called home trade or domestic trade), whic…

3

Internal Trade — Wholesale Trade

Wholesale trade is the first of the two branches of internal trade. It refers to the business of buying goods in large quantities, typically directly from producers or manufacturers, and selling them…

4

Internal Trade — Retail Trade

Retail trade is the second branch of internal trade, and it sits at the very end of the distribution chain.

5

Wholesale Trade and Retail Trade — A Comparison

Although wholesale trade and retail trade are both branches of internal trade and together form a single continuous chain of distribution from the producer to the final consumer, they differ from one…

6

External Trade — Export, Import, and Entrepot Trade

External trade, as established earlier in this chapter, is trade carried on across the boundary of one country into another, involving foreign currency, customs regulations, and international document…

7

Internal Trade and External Trade — A Comparison

Having examined both halves of the classification of trade in detail — internal trade with its wholesale and retail branches, and external trade with its export, import, and entrepot branches — it is…

Very Short Answer Questions

+Show 2 questions2 questions
  1. Q5What is meant by internal trade?Free
  2. Q6Who is a retailer?Preview

Short Answer Questions

+Show 3 questions3 questions
  1. Q7State any three features of wholesale trade.Free
  2. Q8Distinguish between export trade and import trade.Preview
  3. Q9Give any three points of difference between internal trade and external trade.Preview

Long Answer Questions

+Show 3 questions3 questions
  1. Q10Explain the meaning and classification of trade with a suitable diagram/chart in words.Free
  2. Q11Distinguish between wholesale trade and retail trade on any five bases.Preview
  3. Q12What is entrepot trade? Explain its meaning with reference to export and import trade, and distinguish internal trade from external trade on…Preview

Sample & Board Papers

Sample papers and previous-year board questions for this subject.

+Show 19 questions19 questions
  1. Q1The purchase of goods from a foreign country is called ________. (a) Import (b) Export (c) Entreport (d) Re-exportPreview
  2. Q2The aim of home trade is ________. (a) To raise the national income (b) To raise the standard of living (c) To obtain all types of goods (d)…Preview
  3. Q3What is meant by Entrepot Trade?Preview
  4. Q4Give the meaning of Trade.Preview
  5. Q5Explain any three characteristics of wholesalers.Preview
  6. Q6(a) What are the features of Internal Trade? (Any 5) OR (b) Explain any five types of warehouses.Preview
  7. Q7______ buys the goods from the producer and sells it to the retailers. (a) Retailer (b) Warehouse-keeper (c) Consumer (d) WholesalerPreview
  8. Q8Goods imported for the purpose of re-export to another country is termed as : (a) Entrepot Trade (b) Import Trade (c) International Trade (d…Preview
  9. Q9Internal Trade can be classified into ______ categories. (a) Two (b) Three (c) Five (d) FourPreview
  10. Q10Give three examples of India's important Import and Export items.Preview
  11. Q11(a) Explain the different types of Foreign Trade. OR (b) Explain any five special features of Balance of Payments.Preview
  12. Q12Explain any three characteristics of Wholesalers.Preview
  13. Q13Write any three features of Internal trade.Preview
  14. Q14Choose the odd one out. (a) Import Trade (b) Wholesale Trade (c) Entrepot Trade (d) Export TradePreview
  15. Q15What is meant by Export Trade ?Preview
  16. Q16Mention three important items of India's Import and Export.Preview
  17. Q17(a) Distinguish between Wholesaler and Retailer. (any 5) OR (b) What is meant by damages and what are its types ?Preview
  18. Q18What is Internal Trade?Preview
  19. Q19Explain any three characteristics of wholesalers (any 3)Preview

More questions

+Show 4 questions4 questions
  1. Q1Trade is a branch of: (a) Production (b) Commerce (c) Advertising (d) BankingFree
  2. Q2Trade carried on within the boundaries of one country is known as: (a) External trade (b) Entrepot trade (c) Internal trade (d) Export tradeFree
  3. Q3A trader who buys goods in large quantities from producers and sells them in smaller quantities to retailers is called a: (a) Retailer (b) W…Preview
  4. Q4When a country imports goods only to re-export them to another country, it is known as: (a) Import trade (b) Export trade (c) Wholesale trad…Preview