Commerce questions and answers

Commerce Questions and Answers

Test and improve your knowledge of the fundamentals of buying and selling with these Commerce past questions and answers.

411.

Brand name is used to

A.

differentiate one’s goods with others

B.

make business much easier

C.

make selling more convenient

D.

package products

E.

Standardize goods

Correct answer is A

No explanation has been provided for this answer.

412.

The term “enterprise” denotes the ability to

A.

bear risk

B.

control other factors of production

C.

maximize profit

D.

organize other factors of production

E.

plan for other factors of production

Correct answer is D

No explanation has been provided for this answer.

413.

Under utmost good faith as an insurance principle, a person must

A.

believe in the sincerity of the insurance company

B.

communicate with the insurance company

C.

disclose all material facts to the insurance company

D.

have utmost personality

E.

pay outstanding premium

Correct answer is C

No explanation has been provided for this answer.

414.

The concept that the satisfaction of the consumer's wants is to be emphasized at all stages of production and distribution is known as consumer...........

A.

autonomy

B.

independence

C.

preferential

D.

production

E.

sovereignty

Correct answer is E

No explanation has been provided for this answer.

415.

Which of the following is NOT an importance of warehousing?

A.

Ensures that unexpected fluctuation in consumer’s needs are met through reserves

B.

Gives a feeling of security to the traders

C.

Protects goods against pilfering

D.

Provides for economy of scale by maintaining steady rate of production

E.

Provides protection and security for goods or products from going bad

Correct answer is E

No explanation has been provided for this answer.