Commerce Questions and Answers
Test and improve your knowledge of the fundamentals of buying and selling with these Commerce past questions and answers.
Test and improve your knowledge of the fundamentals of buying and selling with these Commerce past questions and answers.
Any activity directed at conveying commodities to buyers is an aspect _________
selling
delivering
advertising
marketing
Correct answer is B
Is the act of conveying something. E.g. delivering goods to a customer.
Factors considered when setting up a retail business is one of the following _________
capital, experience and trading
experience, term of trade, and trading
capital, trading and term of trade
capital, type of goods and source of supply
Correct answer is D
Capital is one of the major factor that determines the form and size of a business and must be considered when starting a retail business.
Source of supply has to do with where and how to get the goods to be sold, either from the wholesaler or manufacturer.
Types of goods determines what the product is.
The production of goods and services in anticipation of demand is made possible by _______
packaging
warehousing
branding
advertising
Correct answer is B
This is the act of storing goods produced.
The effects of devaluation includes all except _______
exports become cheaper
expansion of local industries
increase in standard of living
increase in import
Correct answer is D
Devaluation is the reduction of the value of a country's currency in terms if the value of the currencies of other nations of the world.
There will be a decrease in inputs as citizens will be spending more in buying goods from other countries.
Land as a factor of production does not vary in _______
quantity
nature
quality
cost
Correct answer is B
Is the phenomena of the physical.