NEW
Font size
WorksheetsCommerce Quiz
Total questions: 20
Worksheet time: 10mins
Commerce mainly deals with which of the following activities?
Extraction of raw materials
Buying and selling of goods and services
Manufacturing of goods
Agricultural production
Which of the following is not a component of commerce?
Trade
Aids to trade
Industry
Banking
The main aim of commerce is to:
Produce goods
Create employment
Satisfy human wants
Provide raw materials
Which of these is a function of a wholesaler?
Breaking bulk
Advertising goods to consumers
Providing direct services
Buying in small quantities
The channel of distribution that involves producer → retailer → consumer is suitable for:
Perishable goods
Bulk goods
Industrial machinery
Agricultural produce
Which of the following is a form of visible trade?
Import of crude oil
Export of tourism services
Import of banking services
Export of insurance
Insurance is an example of:
Direct production
Aids to trade
Primary industry
Commerce
The method of payment that uses cheques, drafts, and credit transfers belongs to:
Barter system
Modern banking system
Retail trade
Wholesale trade
The middleman who sells directly to the final consumer is known as:
Wholesaler
Retailer
Broker
Agent
One major problem of barter trade is:
Money supply
Double coincidence of wants
Standard of deferred payment
Durability of goods
Which of the following is not a function of money?
Medium of exchange
Measure of value
Store of value
Production of goods
The balance of trade refers to the difference between:
Exports and imports of services
Exports and imports of goods
Government revenue and expenditure
Imports and exports of capital
Which type of partnership allows some partners to contribute capital but not take part in management?
General partnership
Limited partnership
Joint-stock company
Cooperative society
Which of the following is a characteristic of a public corporation?
It is owned by private individuals
It is set up by an Act of parliament
It is profit-oriented only
It is controlled by shareholders
Which of the following is not an aid to trade?
Advertising
Transportation
Warehousing
Manufacturing
Warehousing helps commerce mainly by:
Providing loans to traders
Stabilizing prices through storage
Offering insurance for goods
Distributing goods to consumers
A document issued by a seller to a buyer showing details of goods sold and the amount payable is:
Invoice
Receipt
Quotation
Debit note
A contract of utmost good faith is associated with:
Sales
Insurance
Banking
Transportation
An economic system where resources are owned and controlled by the government is called:
Capitalism
Mixed economy
Communism
Traditional economy
Which of the following promotes international trade?
Restriction of imports
Foreign exchange control
Improvement in transportation and communication
High tariff barriers
