Commerce & Production - UNIT TEST

Which of the following is an aid to trade?

• wholesaling

• retailing

• warehousing

• export

Buying and selling of goods and services takes place within the geographical boundries of a country is called?

• Internal trade

• Wholesale trade

• International trade

• Export trade

When goods and services are purchased from another country is called?

• Entrepot trade

• Export trade

• Import trade

• Retail trade

A factor of production is an _________ in the production process.

• ingredient

• input

• item

• output

All of the following are considered to be factors of production EXCEPT?

• products

• labour

• land

• enterprise

The reward for the entrepreneur is:

• rent

• salary

• profit

• interest

The Caribbean has a sunny climate, some of the world’s most beautiful beaches, diverse fauna, etc.  What industry can be derived from these natural resources?

• Tourism

• Banking

• Retail

• Manufacturing

Productivity refers to:

• how many products a business makes per year

• how efficiently a business is using its resources

• how many times a person is late for work

• how to get potential customers to purchase your products

Nicholas Superior Cricket Bats Limited produces 1200 cricket bats per week with a production staff of 20 employees.  What is the labour productivity of the business?

• 60

• 300

• 1180

• 24000

All of the following positively affect the size of the labour supply of a company EXCEPT?

• later retirement age

• increase birth rate

• increase migration out of the country

• increase migration into the country