Retail trade - class-XI
Covers mail order houses and consumer cooperative stores in retail trade
Questions
Under Mail Order House, for obtaining orders, potential customers are approached through _________.
- advertisements in newspapers or magazines
- samples and bills
- price lists sent
- all of the above
The people entrusted with the management of cooperative stores lack expertise as they are not trained in running the stores efficiently.
- True
- False
The biggest advantage of mail-order business from the point of view of consumers is that unnecessary middlemen between the buyers and sellers are eliminated.
- True
- False
Sellers cannot clear all the doubts of customers through catalogues and advertisements. This is because of _____.
- High promotion cost
- No after sales service
- Delayed delivery
- Lack of personal contact with customers
The consumer cooperative stores normally sell goods on cash basis.
- True
- False
The profits earned by consumer cooperative stores are utilised for ________________.
- declaring bonus to members.
- strengthening the general reserve.
- social and educational benefit of members.
- all of the above
There can be different alternatives for receiving payments for a Mail Order House. They are _______.
- full payment in advance
- Value Payable Post (VPP)
- the goods may be sent through a bank
- All of the above
To ensure fair management of funds the accounts of the stores are audited by _______.
- Registrar of Cooperative Societies
- Registrar of Companies
- Registrar of Retail Stores
- Joint Stock Company
The seller approaches the customers by advertising the goods through ______.
- the press
- sending circulars
- samples and catalogs
- all of the above
Mail order business is known as shopping by ___.
- email
- fax
- post
- website
Mail order houses are confronted with the problems like _______.
- damage of goods in transit
- excessive operating cost
- credit policies
- all of the above
Under ________ system the goods can be sent to all the places having postal services.
- mail order houses
- chain Stores
- departmental store
- specialty shops
Mail order retailing is also referred to as _______.
- non-store impersonal retailing
- shopping by post
- selling by post
- (A) or (B) or (C)
What are the disadvantages that Consumer Cooperative store faces?
- Lack of patronage.
- Lack of business training.
- Shortage of funds
- All of the above
Name the type of goods that are suitable for trading through mail order houses.
- Goods that can be graded and standardized
- Goods that can be easily transported at a low cost
- Goods that can be described through pictures
- All of the above
How the capital of a cooperative store is raised?
- Through issue of shares.
- By inviting subscriptions from the members
- By raising funds from the general public.
- All of these
The success of mail order business depends heavily on the availability of __________ at a place.
- efficient postal services
- credit facilities
- after sale services
- none of the above
What are the minimum number of members required to form Consumer Cooperative Store?
- 5
- 10
- 15
- 20
What are the disadvantages that acts as a hindrance while trading through mail order houses?
- Delayed delivery
- No credit facilities
- Lack of personal contract
- All of these
What are the main advantages of Consumer cooperative stores?
- Democratic management
- Ease of information
- Limited liability
- All of the above
Which of the following is a characteristic of a mail order house?
- Huge capital requirement
- Elimination of middle man
- Presence of bad debt
- None of the above
The accounts of cooperative stores are audited for ____________.
- registrar of companies
- manager of the store
- registrar of cooperative societies
- none of the above
Where do cooperative stores purchase their goods?
- Directly from Wholesalers.
- From retailers.
- From manufacturers
- Both A and C