WAEC Commerce 2003 Theory question 105

Theory question 105

Retail Trade

Commerce 2 (essay)
Write short notes on each of the following:
(i) Small stores
(ii) Mobile shops
(iii) Tied shops
(iv) Supermarkets
(v) Peddling

Show the model answer
Model answer

(i) Small stores – unit retail shops, usually owned by sole traders, near homes; small capital; sell small quantities of convenience goods; personal service and sometimes credit.
(ii) Mobile shops – vans or vehicles fitted as shops that move from place to place selling to customers in their areas; limited range of goods.
(iii) Tied shops – shops that sell only the products of one manufacturer, which often helps with finance and equipment (e.g. petrol stations).
(iv) Supermarkets – large self-service shops selling mainly food and household goods; price-marked goods on shelves; trolleys and baskets; check-out points; cash sales.
(v) Peddling – a form of itinerant trade in which the trader carries goods from house to house or place to place; small capital; few kinds of goods; affected by weather.

Explanation

Two or three features of each is enough.