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.
commercial
manufacturing
service
extractive
Correct answer is D
Extractive industry are Any processes that involve the extraction of raw materials from the earth to be used by consumers. Mrs Jones is into fishing (extracting fish from the river for consumption)
One of the major determinants of the volume of production is
the market size
the availability of banks
sex distribution
government policy
Correct answer is A
There are various factors which affect the volume of production which includes:
An important feature of land is that it
has an elastic supply
is an active factor of production
is heterogenous in nature
is subject to returns to scale
Correct answer is B
Land possesses the following characteristics:
The payment for direct service is usually made by the
local authority
community
government
individual
Correct answer is D
Direct services means services provided through person-to-person contact. Direct services means services providing therapy, habilitation, or rehabilitation activities or support services such as transportation.
One of the products of an extractive industry is
an airplane
an iron ore
a shoe
a textile material
Correct answer is B
Any processes that involve the extraction of raw materials from the earth to be used by consumers. The extractive industry consists of any operations that remove metals, mineral and aggregates from the earth. Examples of extractive processes include oil and gas extraction, mining, dredging and quarrying.