Commerce
Commerce · 50 practice questions
Meaning and scope of commerce; its characteristics; its functions.
- Differentiate between Commerce and other related subjects.
- Describe the characteristics of Commerce.
- Identify the functions of Commerce.
Try a few questions
- Practice question 1
Commerce is generally considered essential to a modern economy because without it, producers and consumers who are geographically or otherwise separated would find it
- A.Easier to exchange goods directly
- B.Completely impossible to ever produce goods
- C.Unnecessary to ever interact
- D.Difficult to exchange goods and services efficiently
Show the answer
D. Difficult to exchange goods and services efficiently
Without commerce, separated producers and consumers would find efficient exchange of goods difficult.
- Practice question 2
Commerce widens consumer choice mainly by
- A.Guaranteeing that only the cheapest goods are ever produced
- B.Restricting the variety of goods and brands available to a single option
- C.Eliminating competition among sellers
- D.Making a wider variety of goods, brands and suppliers accessible to consumers through trade
Show the answer
D. Making a wider variety of goods, brands and suppliers accessible to consumers through trade
Commerce widens consumer choice by making a broader variety of goods, brands and suppliers accessible through trade.
- Practice question 3
Wholesale trade, as a branch of home trade, primarily involves buying in bulk from producers and selling in smaller quantities mainly to
- A.Foreign governments only
- B.Final consumers directly
- C.Retailers, who then sell smaller quantities to final consumers
- D.Trade associations only
Show the answer
C. Retailers, who then sell smaller quantities to final consumers
Wholesale trade mainly involves buying in bulk and selling smaller quantities to retailers, not directly to consumers.
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