Nature & Scope of Commerce Quiz

Commerce is best defined as the study of ______.

• Production and consumption

• Trade and aids to trade

• Banking only

• Distribution of wealth

Which of the following is NOT an aid to trade?

• Insurance

• Transportation

• Banking

• Agriculture

The system of exchanging goods for goods without money is called ______.

• Retail trade

• Wholesale trade

• Barter system

• Credit trade

One importance of commerce is that it ______.

• Produces goods

• Destroys markets

• Links producers and consumers

• Reduces demand for goods

Which of these is a function of commerce?

• Storage of goods

• Cultivation of crops

• Manufacturing of goods

• Designing new products

The introduction of money in The Gambia replaced ______.

• Import trade

• Colonial trade

• Barter system

• Cash crop farming

An activity that provides funds to support trade is called ______.

• Risk bearing

• Financing

• Distribution

• Exchange

Which of the following factors delayed the growth of commerce in The Gambia?

• Improved education

• Political instability

• Stable government

• Banking services

Commerce makes goods available to consumers by ______.

• Storing them permanently

• Advertising them only

• Distributing them from producers to markets

• Importing raw materials

Which of the following is both an importance and a function of commerce?

• Distribution

• Creation of employment

• Risk bearing

• Promotion of trade