Chapter 15 of 23
Revision Notes
Retail Trade — Revision Notes
ICSE · Class 11 · Commerce
Retail Trade revision notes for ICSE Class 11 Commerce: 4 topics in quick points. Part of the ICSE Class 11 Commerce syllabus.
65 questions40 flashcards5 concepts
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Key Topics to Revise
1
Meaning, Definitions, and Nature of Retail Trade
- The word retail comes from the French word retaillier, meaning to cut again.
- Retailers purchase goods in large quantities but sell them in small quantities.
- Retailers sell mainly to the final consumer for personal or family use.
2
Definitions of Retailing and Retailer
- Cundiff and Still defined retailing as selling directly to the ultimate consumer.
- Mc Carthy defined a retailer as a business firm which sells primarily to ultimate consumers.
- F.E. Clark and C.P. Clark defined retailing as all activities directly related to the sale of goods or services to the ultimate consumer for personal non-business use.
3
Characteristics and Functions of Retailers
- Retailers purchase goods in large quantities and sell in small quantities according to consumer need.
- Retailers usually purchase on credit from wholesalers and sell mostly on cash.
- Retailing needs less capital than wholesale trade.
4
Wholesaler and Retailer
- Wholesalers buy in large quantities from producers and sell to retailers.
- Retailers buy from wholesalers and sell in small quantities to final consumers.
- Wholesalers usually deal in limited types or one line of goods.
Get complete notes with diagrams and examples
Full NotesKey Concepts
Retail trade means selling goodsRetailing has been defined by CundiffRetailers buy goods in large quantitiesRetailers buy and assemble goodsA successful retail business depends on
Frequently Asked Questions
What are the important topics in Retail Trade for ICSE Class 11 Commerce?
Key topics in Retail Trade include Meaning, Definitions, and Nature of Retail Trade, Definitions of Retailing and Retailer, Characteristics and Functions of Retailers, Wholesaler and Retailer. Study these first, then practise questions on each for Class 11 exams.
How should I revise Retail Trade for Class 11 exams?
Learn the core ideas first, then work through the 65 practice questions on Retail Trade. Revise definitions regularly and use flashcards for quick recall before the exam.
Sources & Official References
Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.
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