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 is used as a pricing policy?
Packaging
Market selection
Labelling
Market skimming
Correct answer is D
Price Skimming. Price skimming is when you have a very high price that makes your product only accessible upmarket.
Price skimming is typically associated with luxury items and only works if you have a product or service that is highly valuable or perceived as highly valuable.
Management of a business involves the development of ideas for the
distribution of goods and services that human wants
transportation of goods and services that human wants
transfer of title of ownership of goodsand services to individuals
production of goods and services that satisfy human needs
Correct answer is D
Management in all business and organizational activities is the act of getting people together to accomplish desired goals and objectives. This is achieved when goods and services reaches the final consumer and satisfy a want.
In a staff-authority relationship, the opinion of a specialist in one department to another is
a directive
an advice
a command
a delegation
Correct answer is B
No explanation has been provided for this answer.
The most suitable organizational structure for small or medium sized enterprises is
line structure
staff structure
committee structure
functional structure
Correct answer is D
A small business can use one of three primary organization structure options: functional, divisional or matrix. Essentially, the organizational structure creates a business hierarchy to increase the efficiency and effectiveness of the business operations.
The initial function of a manager is
setting up an organisation
coordinating
planning
provision of welfare package
Correct answer is C
Planning: This step involves mapping out exactly how to achieve a particular goal.