Theory question 104
Introduction to CommerceCommerce 2 (answer any five questions)
(a) With the aid of a diagram illustrate six branches of trade and show six types of retail outlets.
(b) State eight features of hawking.
Show the model answer
(a) Diagram: TRADE → Home trade and Foreign trade. Home trade → Wholesale and Retail. Foreign trade → Import, Export and Entrepot. (Six branches: home, foreign, wholesale, retail, import, export, entrepot.) Retail outlets shown under Retail (any six): hawkers/itinerant traders; market stalls; kiosks; unit/independent shops; mobile shops; department stores; supermarkets; chain/multiple stores; mail order; vending machines; co-operative retail shops.
(b) Any eight: little capital needed; no fixed shop – goes from place to place; carries goods on head, bicycle or cart; sells small quantities of cheap goods; deals in a few lines of goods, often fast-moving; personal contact with customers; prices often fixed by bargaining; no credit given/cash sales; no rent or rates paid; long and flexible hours; often owner-operated (sole trader); goods exposed to weather and damage; easy to start and stop.
A clear labelled tree diagram is needed in (a).