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.
One of the inputs in production that can be motivated by remuneration is
capital
enterpreneur
labour
land
Correct answer is C
Labour is motivated by paying wages and salaries
An example of an activity in the construction industry is
blacksmithing
bricklaying
car assembling
shoemaking
Correct answer is C
No explanation has been provided for this answer.
One of the major benefits of commerce to government is to
improve the standard of living
generate revenue for growth and development
encourage cooperation among public organisations
encourage the development of socio-cultural values
Correct answer is B
No explanation has been provided for this answer.
Which of the following is not suitable for fire purchase?
Textiles
Furniture
Refrigerators
Printing machine
Correct answer is A
No explanation has been provided for this answer.
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
One of the major reasons for trade is the difference in the natural resources of each country. No country is an island of its own, no matter how efficient its production factors may have been utilized.
There is always going to be something the region needs and may have to source for it from its neighbors.