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.
Balance of payment problems arise if a country's?
exports is more than imports
imports is more than exports
currency devaluation
invisible exports is more than visible exports
Correct answer is B
A country's balance of payment problems arises when the value of its visible and invisible imports is greater than the value of exports
The main frame of selling directly to the consumers by manufacturers is to?
reduce transportation cost
make contact with individual consumers
discourage the activities of middlemen
maximize profit margin
Correct answer is B
Direct selling allows you to further reinforce MSRP (manufacturer's suggested retail price) and communicate directly with consumers about price points. Selling direct allows you to collect a goldmine of data. Better customer data leads to better promotions, better products, better relationships and more sales.
One of the functions of a retailer is the?
financing of production activities
provision of credit facilities to relations
provision of jobs for customers
breaking of bulk
Correct answer is D
Functions of Retailers:
- Breaking the Bulk (buying in large quantities and selling in bits to the consumer)
- Storing, Stocks Multiple Brands
- Customer Education
- Online Services and Other Details.
An individual that links the producer with the retailer is?
an agent
a wholesaler
an entrepreneur
a principal
Correct answer is B
A wholesaler is a person or company that sells goods in large quantities at low prices, typically to retailers. He is the link between the producer and the retailer, ie he buys from the producer and sells to the retailer
Which of the following is a limitation of division of labour?
Decline in craftmanship
Monotony of work
Reduction in output
Reduction in labour force
Correct answer is D
No explanation has been provided for this answer.