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.
differentiate one’s goods with others
make business much easier
make selling more convenient
package products
Standardize goods
Correct answer is A
No explanation has been provided for this answer.
The term “enterprise” denotes the ability to
bear risk
control other factors of production
maximize profit
organize other factors of production
plan for other factors of production
Correct answer is D
No explanation has been provided for this answer.
Under utmost good faith as an insurance principle, a person must
believe in the sincerity of the insurance company
communicate with the insurance company
disclose all material facts to the insurance company
have utmost personality
pay outstanding premium
Correct answer is C
No explanation has been provided for this answer.
autonomy
independence
preferential
production
sovereignty
Correct answer is E
No explanation has been provided for this answer.
Which of the following is NOT an importance of warehousing?
Ensures that unexpected fluctuation in consumer’s needs are met through reserves
Gives a feeling of security to the traders
Protects goods against pilfering
Provides for economy of scale by maintaining steady rate of production
Provides protection and security for goods or products from going bad
Correct answer is E
No explanation has been provided for this answer.