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WorksheetsCommerce Quiz
Total questions: 50
Worksheet time: 25mins
Commerce can best be defined as
Buying and selling of goods only
Production and exchange of goods and services
All activities that aid trade
Distribution of goods and services
Which of the following is not an aid to trade?
Banking
Insurance
Agriculture
Advertising
The main purpose of commerce is to
Create employment
Link producers and consumers
Encourage importation
Reduce production
Trade is divided into
Home and foreign trade
Wholesale and retail trade
Import and export
Domestic and international
The buying and selling of goods within a country is called
Import trade
Export trade
Home trade
Bilateral trade
Which of the following is a tertiary occupation?
Teaching
Farming
Mining
Fishing
The act of selling goods to another country is called
Import trade
Export trade
Entrepot trade
Retail trade
The branch of commerce that deals with buying and selling is
Insurance
Trade
Transportation
Warehousing
One major difference between commerce and industry is that commerce
Involves only production
Aids distribution
Creates goods
Is a primary activity
Which of these is a component of home trade?
Import
Export
Retail
Entrepot
The main aim of warehousing is to
Keep goods until they are needed
Increase the cost of goods
Delay distribution
Store perishable goods only
The process of moving goods from one place to another is called
Communication
Transportation
Insurance
Advertisement
Aids to trade are also known as
Industrial activities
Commercial services
Retail trade
Wholesale activities
The person who sells goods in small quantities to final consumers is a
Wholesaler
Retailer
Manufacturer
Agent
The person who sells goods in bulk to retailers is known as a
Retailer
Wholesaler
Consumer
Manufacturer
The main goal of commerce is to
Make profit for government
Bridge the gap between producers and consumers
Encourage savings
Provide social services
Which of the following is a means of communication?
Road transport
Radio
Ship
Warehouse
The study of commerce helps to
Reduce cost of production
Improve marketing skills
Discourage business
Limit consumption
Which of these is a characteristic of commerce?
It involves exchange
It is not profit-oriented
It excludes distribution
It discourages trade
Which of these best describes the scope of commerce?
Buying and selling only
Trade and aids to trade
Banking alone
Insurance alone
One of the following is not an element of commerce
Trade
Aids to trade
Industry
Agriculture
The type of trade that involves two countries is
Multilateral trade
Bilateral trade
Internal trade
Retail trade
Which of the following sectors of production provides raw materials?
Primary
Secondary
Tertiary
Quaternary
The reward for entrepreneurship is
Rent
Profit
Interest
Wage
The main function of a middleman is to
Produce goods
Bridge the gap between producers and consumers
Fix prices
Store raw materials
Banking facilitates commerce mainly by
Lending money and accepting deposits
Manufacturing goods
Transporting goods
Advertising products
The process of making goods known to the public is
Transportation
Warehousing
Advertising
Insurance
Which of the following protects business from loss?
Transportation
Insurance
Advertising
Banking
The means by which goods reach the final consumer is called
Distribution
Communication
Consumption
Production
The exchange of goods for goods is known as
Trade
Barter
Retailing
Banking
Commerce is important to a country because it
Encourages hoarding
Reduces unemployment
Discourages foreign trade
Reduces population
The sector of production that changes raw materials into finished goods is
Primary
Secondary
Tertiary
Quaternary
The process of creating goods and services is called
Production
Commerce
Consumption
Exchange
Which of the following is a function of transportation?
Creation of utility of time
Creation of utility of place
Creation of utility of form
Creation of utility of possession
The main objective of insurance is to
Prevent loss
Share risk
Increase profit
Advertise goods
Communication aids commerce by
Helping business people exchange information
Transporting goods
Storing goods
Protecting goods
The main function of commerce in production is to
Make goods available to consumers
Produce goods
Control prices
Reduce competition
The term “industry” refers to
All activities involved in distribution
All activities involved in production
All activities involved in selling
All services aiding trade
The channel through which goods move from producer to consumer is called
Channel of distribution
Market segmentation
Sales outlet
Delivery path
The people who buy goods and services for use are called
Producers
Retailers
Consumers
Wholesalers
Commerce originated from
Production
Exchange
Consumption
Distribution
The first form of trade known to man was
Retail trade
Barter trade
Foreign trade
E-commerce
Modern trade is facilitated by
Money
Goods exchange
Manual labor
Barter
Which of the following is not a form of foreign trade?
Import trade
Export trade
Retail trade
Entrepot trade
One importance of warehousing is
To store goods until needed
To create goods
To sell goods directly
To advertise goods
E-commerce refers to
Exchange of goods by barter
Buying and selling through electronic means
Selling in open markets
Exporting goods abroad
One of the disadvantages of barter is
Double coincidence of wants
Use of money
Ease of trade
Stable value of goods
The introduction of money helped to
Make trade difficult
Simplify exchange
Encourage barter
Reduce trade volume
The type of utility created when goods are transported from one place to another is
Time utility
Form utility
Place utility
Possession utility
The main difference between trade and commerce is that commerce
Includes aids to trade
Involves only buying and selling
Excludes industry
Excludes distribution
