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.
A demerit of communication is that it ________
makes payment for goods cumbersome
increase the cost of goods in transit
give room for distortion of fact
hinder quick reception of messages over a long distance
Correct answer is C
No explanation has been provided for this answer.
What is the reward accruable to land?
Rent
profits
wages
Interest
Correct answer is A
Since land is a free gift of nature, it doesn't require any cost to be paid in order to make it available to the society for use.
As the quantity of land available for use is scarce relative to demand, a price must be paid for its use. Hence, the view point of the society , the earnings of land becomes economic rent.
Production ends when goods and services ________
reach the final consumer
are used for manufacturing
are packaged and labelled
are sold to the middlemen
Correct answer is A
No explanation has been provided for this answer.
The concept that refers to the sale, transfer or exchange of goods and services is
industry
trade
tariff
marketing
Correct answer is B
This is the practice of exchanging goods for goods and services for services
Water corporation is an example of ______?
co-operative society
public enterprise
private enterprise
limited company
Correct answer is B
This is a business organisation established, owned, managed and financed with tax payer's money by the government of a country with the aim of rendering services to the public