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.
Which of the following encourages trade between regions?
Differences in currencies of countries
Difference in national income of countries
Existence of trade associations
Differences in natural resources
Correct answer is D
No explanation has been provided for this answer.
rate at which the central bank discounts first class bills
rate at which a country's exports exchange for its imports
expected rate of returns on an investment
rate of payment for goods and services purchased
Correct answer is C
No explanation has been provided for this answer.
Which of the following is a feature peculiar multiple shops?
Central Location
Self Service
Central Buying
One stop shopping
Correct answer is C
No explanation has been provided for this answer.
A manufacturer of goods that are seasonally demanded will be in dire need of a
wealthy customer
suitable means of transport
warehouse
large house frontage
Correct answer is B
No explanation has been provided for this answer.
Which of the following will not be considered in choosing a channel of distribution?
Nature of product
Preferences of customers
Volume of sales
Quality of product
Correct answer is D
Channels of distribution are the processes or intermediaries through which a product or service travels before reaching the final customer. These channels often include wholesalers, distributors, retailers, and online stores.
The quality of a product is not a factor to consider when choosing your preferred channel of distribution, rather, you have to consider the nature of the products (whether it is perishable or not), the size of the distribution ( large or small scale), location of the market/customers, among others.