GK COMMERCE CLASSES

OC Obj Marks: 50 TIME : 45MINs

Q1. Blanks: (10)

1. __________ is the link between producer & consumers.

a) Consumers b) wholesaler c) manufacturer
2. ______________retailer deal in particular goods
a) General stores b) speciality shop c) second hand shops.
3. The wholesaler purchases a large quantity of goods from the____________
a) Manufacturer b) wholesaler c) retailer
4. The problem of ___________has been becoming more serious in india.
a) Employment b) unemployment c) pollution
5. A sole trading concern is suitable for _______________
a) Self employment b) urban employment c) rural employment
6. Registration of partnership firm is __________ in Maharashtra.
a) Voluntary b) compulsory c) easy
7. __________________is a unique form of business originated in india.
a) Sole trading concern b) joint hindu family firm c) partnership.
8. A lawyer is a ____________
a) Professional person b) businessman c) employee
9. The problem of distance is solved by ___________
a) Bank b) transport c) warehousing
10. Warehousing creates _________utility in goods
a) Place b) form c) time

Q2. True or false (10)

1. Every profession is practiced for earning money.

2. Industry creates form utility.
3. Plant nursery is an example of extractive industry.
4. A retailer has no direct contact with consumers.
5. Buying goods from other country is an export trade.
6. Supermarket shops offer home delivery factilities to customers.
7. Small business easily get access to low interest rates.
8. Partnership agreement maybe oral or written .
9. In partnership liability of every partner is limited ,joint & several .
10. Departmental store is located out of the city.
Q3. One word : (any10) (10)

1. A retailer who displays his goods on roads.

2. A shop where all goods are available at same price.
3. The middlemen between wholesaler and consumer .
4. Buying and selling of goods against money and money’s worth
5. Lifeblood of enterprise.
6. One man show type of business
7. A partnership agreement in writing.
8. The members of the joint hindu family firm.
9. A person who moves daily from place to place to sell goods.
10. Name the business activity which is concerned with production of goods & services.
11. Activities that removes all difficulties of trade.
12. A regular activity concerned with production and distribution of goods and services for
profits.

Q4. Match the pairs (10)

1. Genetic industry a. First step in import

2. Letter of credit b. Handloom
3. Registration c. More than 10lakhs but doesnot
exceed 2cr.
4. General shops d. Sericulture
5. Micro manufacturing sector e. 1932
6. Micro service sector f. 1956
7. Small manufacturing sector g. Credit worthiness of importer
8. Joint hindu family firm h. Most common shops
9. Partnership i. Doesnot exceed rs. 25 lakhs
10. Traditional SSI j. Doesnot exceed rs. 10 lakhs
k. More than 25lalks but doesnot exceed
5cr.

Q5. Define/ explain the terms : (any10) (10)

1) Business________________________________________________________________
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2) Trade __________________________________________________________________
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3) Wholesale trade___________________________________________________________
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4) Retail trade ______________________________________________________________
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5) Small scale industry _______________________________________________________
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6) Joint hindu family business__________________________________________________
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7) Sole trading concern ______________________________________________________
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8) Partnership firm _________________________________________________________
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9) 5 Examples of modern SSI _________________________________________________
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10) Mall____________________________________________________________________
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11) Foreign trade ____________________________________________________________
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