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 worker who process rice is engaged in?
constructive activity
comercial activity
extractive activity
manufacturing activity
Correct answer is D
Manufacturing Activities means the manufacturing, processing, testing, packaging, storing and other activities undertaken or required to be undertaken by Supplier
Division of labour ultimately leads to?
conservation
intergration
specialization
repetition
Correct answer is C
In a division of labor, the production process is broken down into a sequence of stages, and workers are assigned to particular stages. This leads to specialization
The factor of production that is subject to depreciation is?
capital
land
labour
entrepreneur
Correct answer is A
Capital depreciates because its value is inconsistent
The rewards of rents, wages, interests and profits accrue from?
capital, labour, land and enterpreneur respectively
land, enterpreneur,labour and capital respectively
land, labour, capital and entrepreneur respectively
labour, enterpreneur, land and capital respectively
Correct answer is C
The reward of land is rent
The reward of labour is wages
The reward of capital is interest
The reward for entrepreneur is profits.
Hence we have, land, labour, capital and entrepreneur
Manufacturing and constructive activities are classified under?
primary production
tertiary production
secondary production
direct service
Correct answer is C
Secondary production: this is the manufacturing and assembly process. It involves converting raw materials into components, for example, making plastics from oil. It also involves assembling the product, eg building houses, bridges and roads.