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Internal Trade — Revision Notes

Jammu & Kashmir Board · Class 11 · Business Studies

Internal Trade revision notes for Jammu & Kashmir Board Class 11 Business Studies: 4 topics in quick points. Includes Meaning and Classification.

101 questions92 flashcards5 concepts

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Key Topics to Revise

1

1. Meaning and Classification of Internal Trade

  • Trade means buying and selling of goods and services with the objective of earning profit.
  • Trade is classified on the basis of the geographical location of buyers and sellers into internal trade and external trade.
  • Internal trade takes place within a country and does not attract custom duty or import duty because the goods are meant for domestic consumption.
2

2. Wholesale Trade and Services of Wholesalers

  • Wholesalers buy goods in bulk and sell in small lots to retailers or industrial users.
  • Wholesalers generally do not sell in significant amount to ultimate consumers.
  • They take title of goods and bear business risks by purchasing and selling in their own name.
3

3. Retail Trade and Services of Retailers

  • A retailer is a business enterprise engaged in the sale of goods and services directly to the ultimate consumers.
  • Retailers usually buy in large quantities from wholesalers and sell in small quantities.
  • Retailing is the final stage in distribution.
4

4. Itinerant Retailers

  • Itinerant retailers do not have a fixed place of business.
  • They move from street to street or place to place in search of customers.
  • They are small traders with limited resources.

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Full Notes

Key Concepts

Internal trade means buying and sellingWholesale trade is the purchaseRetail trade is the purchaseWholesalers help manufacturers by facilitating largeRetailers help manufacturers and wholesalers by

Frequently Asked Questions

What are the important topics in Internal Trade for Jammu & Kashmir Board Class 11 Business Studies?
Key topics in Internal Trade include Meaning and Classification of Internal Trade, Wholesale Trade and Services of Wholesalers, Retail Trade and Services of Retailers, Itinerant Retailers. Study these first, then practise questions on each for Class 11 exams.
How should I revise Internal Trade for Class 11 exams?
Learn the core ideas first, then work through the 101 practice questions on Internal 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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All Jammu & Kashmir Board Class 11 Business Studies Revision Notes

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