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.
The process of changing the form of a new material is known as?
fabrication
extraction
conversion
production
Correct answer is D
Production is a process of combining various material inputs and immaterial inputs (plans, know-how) in order to make something for consumption (the output). It is simply the conversion of raw materials into semi-finished goods or goods.
i,iii and iv
iii and iv
iii and v
i, ii and v
Correct answer is B
The primary production stage of the supply chain encompasses agricultural activities, aquaculture, fisheries, and similar processes resulting in raw food materials. Form the question above, fishing and gardening are the only tasks that falls under primary production
The art of soaping-making is an example of?
primary occupation
secondary occcupation
tertiary occupation
construction occupation
Correct answer is B
Secondary production refers to the manufacturing and assembly process. It involves converting raw materials into components, for example, making plastics from oil as well as making soap from oils.
An activity that involves derivation of raw materials from land and sea is?
construction
farming
agriculture
extraction
Correct answer is D
Extractive industries are the businesses that take raw materials, including oil, coal, gold, iron, copper, and other minerals, from the earth.
An aspect of commerce that facilitates the distribution of products is?
transportation
advertising
branding
trading
Correct answer is A
Transportation refers to the activity that facilitates the physical movement of goods as well as individuals from one place to another. In business, it supports trade and industry in carrying raw materials to the place of production and distributing finished products for consumption.