11th Commerce - Book Back Answers - Chapter 22 - English Medium Gudies

 

 

Plus One / 11th Commerce - Book Back Answers - Chapter 22 - English Medium

Tamil Nadu Board 11th Standard Commerce - Chapter 22: Book Back Answers and Solutions

    This post covers the book back answers and solutions for Chapter 22 – Commerce from the Tamil Nadu State Board 11th Standard Commerce textbook. These detailed answers have been carefully prepared by our expert teachers at KalviTips.com.

    We have explained each answer in a simple, easy-to-understand format, highlighting important points step by step under the relevant subtopics. Students are advised to read and memorize these subtopics thoroughly. Once you understand the main concepts, you’ll be able to connect other related points with real-life examples and confidently present them in your tests and exams.

    By going through this material, you’ll gain a strong understanding of Commerce  Chapter 22 along with the corresponding book back questions and answers (PDF format).

Question Types Covered:

• 1 Mark Questions: Choose the correct answer, Fill in the blanks, Identify the correct statement, Match the following 
• 2 Mark Questions: Answer briefly 
• 3, 4, and 5 Mark Questions: Answer in detail

All answers are presented in a clear and student-friendly manner, focusing on key points to help you score full marks.

All the best, Class 11 students! Prepare well and aim for top scores. Thank you!

Chapter 22: TYPES OF TRADE

I. Choose the correct answer

1. The purchase of goods from a foreign country is called__________
a. Import
b. Export
c. Entrepot          
d. Re-export
Answer Key:
a. Import

2. When goods are imported for the purpose of export it is called as_______.
a. Foreign Trade
b. Home Trade
c. Entrepot
d. Trade
Answer Key:
c. Entrepot

3. _____acts as a connective link between the producer and the consumer.
a. Trade
b. Industry
c. Commerce
d. Business
Answer Key:
a. Trade

4. The aim of home trade is_______
a. To raise the standard of living
b. To provide the essential goods and services economically
c. To raise the national income
d. To obtain all types of goods.
Answer Key:
b. To provide the essential goods and services economically  

5. Internal trade can be classified into ____________categories
a. Three
b. Four
c. Two
d. Five
Answer Key:
c. Two

II. Very Short answer questions

1. Give the meaning of Trade.

• The buying and selling of goods and services consists of trade.
• Trade is conducted in order to earn profit.

2. What is International Trade?

• Buying and selling of goods and services within the boundaries of a nation are called internal trade.
• Internal trade is also called domestic trade or home trade.

3. What is Import Trade?

• Import trade means buying goods from a foreign country for domestic use.

4. Explain the meaning of Entrepot Trade.

• Entrepot trade means importing of goods from one country and exporting the same to foreign countries.
• It is also known as ‘Reexport trade’.

 

III. Short answer questions

1. Explain the types of internal trade.
Wholesale Trade:

• “Purchase of goods in bulk from the manufacturers and selling them in smaller quantities to other intermediaries” is known wholesale trade.

Retail Trade:

• Retail trade deals with the distribution of goods in small quantities to the consumers

2. Give three examples of India’s Import and Exports items. 

Export items:	Import items:
1. Petroleum products	1. Mineral fuels including oil
2. Jewelry	2. Gem, precious Metals
3. Automobile	3. Electrical machinery and equipments
4. Bio-chemicals	4. Machinery including Computers

 IV. Long answer questions

1. What are the features of Internal trade? (any 5)

• Payment for goods and services is made in the currency of the home country.
• In home trade the laws prevailing in that country only have to be followed.
• The aim of home trade is to provide the goods and services economically.
• The goods must be a part of domestic production.
• Goods can be delivered using locally available modes of transport 

 

2. Explain briefly the different types of Foreign Trade.
Import Trade

• Import trade means buying goods from a foreign country for domestic use.

Example:
            India imports petroleum products from Gulf Countries.
Export Trade

• Export trade means the sale of domestic goods to foreign countries.

Example:
            Export of Iron ore from India to Japan
Entrepot Trade

• Entrepot trade means importing of goods from one country and exporting the same to foreign countries.

Example:
            Singapore, Dubai, Hongkong are the largest Entrepot trade centres in the world