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Questions on Commerce

Academic Articles Questions and Answers Key Points in Academics Interesting Facts for Students Quotes for Students

Academic Quotes

Smile - Len Academy

Too often we underestimate the power of a touch, a smile, a kind word, a listening ear, an honest compliment, or the smallest act of caring, all of which have the potential to turn a life around - Leo Buscaglia

The most important things we can give to others are actually not expensive. In fact, we don't have to buy them with money because they are right within us.

These include our kind words, listening ears, honest compliments, our 'thank you', those beautiful smiles, our loving corrections, sincere kindness and a caring heart

In the end, it isn't the years in your life that count. It is the life in your years - Abraham Lincoln

One fact remains constant to us all, and that's death. We are not guaranteed of tomorrow because no living human is too old to die, even a newly born. Remember, age is also a number.

Therefore, let us always do good, help the poor, care for the sick and less privileged, forgive transgressions and most importantly, extend the hands of love to everyone we come across.

By doing this, we would have added an abundance of life to our years, regardless its number. Recall that Jesus Christ Himself died at 33

Smile - Len Academy

You cannot win everytime. This therefore makes defeat a part of life. However, it is the way and manner at which we rise from our defeats that determines our place among the greats.

Muhammad Ali was a professional boxer with 56 wins and 5 defeats. However, the way and manner at which he rose from his defeats secured his place in boxing history as the greatest fighter of all time

One Day or Day One, you decide - Unknown

We all intend to become great in life. However, we should also understand that it doesn't take one day to become great. Rather it takes many days of work, practice, diligence, failures and successes to become great.

My question to you is this: Concerning your path to greatness, what day are you in?

Whatever you are, be a good one - Abraham Lincoln

If you are a boy, be a good boy. If you are a girl, be a good girl. If you are a man, be a good man. If you are a woman, be a good woman. If you are a student, be a good student. If you are a teacher, be a good teacher.

I can go on and on; but the point is: You are human, so do all in your power to be a good human

In commerce, the concept of paying in advanced is termed _____.

  • A. Advanced payment

  • B. Up payment

  • C. Forward payment

  • D. Prepayment

  • E. Uphill payment

  • F. Adpayment

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In commerce, the concept of 'buy now, pay later' is termed _____.

  • A. Unadventurous payment

  • B. Buy on credit payment

  • C. Deferred payment

  • D. Postponed payment

  • E. Owed payment

  • F. Future payment

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In commerce, which of the following is false with regards to a commodity?

  • A. A commodity must always have a market value

  • B. Rendered services are also instances of commodities

  • C. Products applicable to commodities can be bought or sold with money

  • D. A commodity must be standardized

  • E. A commodity must be usable upon delivery

  • F. Commodities can be traded in the futures market

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Whatever is being marketed must always provide value to its potential consumers.

  • A. True

  • B. False

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Which of the following is not a branch of marketing?

  • A. Merchandising

  • B. Promotions

  • C. Forex

  • D. Search Media Optimization

  • E. Social Media Optimization

  • F. Copywriting

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Which of the following is not a characteristics of commerce?

  • A. The only aim of commerce is to make profit

  • B. It is a discontinuous process after profit had been made

  • C. It is accompanied with challenges and uncertainties

  • D. It is 100% business and economic activity

  • E. Transaction processes are always involved in commerce

  • F. It connects the process of production and marketing

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Which of the following is not a function of commerce?

  • A. Unnecessary in times of emergencies like earthquakes and wars

  • B. Facilitates mass production of goods

  • C. Influences transportation network within and outside a state

  • D. Attempts to satisfy human needs and wants

  • E. Improves the standard of living

  • F. Acts as an online business link between buyers and sellers

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One of the following is a form of division of labour.

  • A. Agonistic division of labour

  • B. Antagonistic division of labour

  • C. Mutualistic division of Labour

  • D. Advanced division of labour

  • E. Solitary division of labour

  • F. Occupational division of labour

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A place where people buy homogenous goods in large quantities is called _____.

  • A. Wholesaler's Market

  • B. Goods Market

  • C. Products Market

  • D. General Market

  • E. Commodity Market

  • F. Forex Market

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Any activity aimed at getting people interested in a company's product or service is termed _____.

  • A. Commerce

  • B. Economics

  • C. Financial Accounting

  • D. Marketing

  • E. Production

  • F. Distribution

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Which of the followings isn't a characteristics of commerce?

  • A. Commerce is solely aimed at making profit

  • B. Commerce is 100% business

  • C. Commerce is a discontinuous process because it eventually satisfies human needs

  • D. Commerce is accompanied by uncertainties

  • E. Transaction processes are always done in commerce

  • F. Commerce connects the processes of production and marketing

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The followings are disadvantages of division of labour except _____.

  • A. It becomes difficult to hold any of the workers accountable for poor sales

  • B. A worker may face the risk of unemployment

  • C. Limitation in the size of the market will affect division of labour

  • D. It can lead to loss of lives

  • E. All of the above

  • F. None of the above

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The followings are principles of marketing mix except _____.

  • A. People

  • B. Positioning

  • C. Pressure group

  • D. Packaging

  • E. Promotion

  • F. Product

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The followings are advantages of division of labour EXCEPT _____.

  • A. It promotes the use of machines in production industries

  • B. There is an increase in profit

  • C. It saves time and expenses of training

  • D. It fosters the spirit of division

  • E. It increases the production of quality goods and services in the market

  • F. It increases a country's economic growth

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Which of the following statement is incorrect concerning division of labour?

  • A. It is the specialization of works

  • B. It can become monotonous

  • C. It is the specialization of processes

  • D. The nature of a job is not a condition for division of labour

  • E. A person performs only a part of the job

  • F. Division of labour has some of its drawbacks

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What does a bearer cheque mean?

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What is an order cheque?

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Total Questions (17) Paged

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Topics in Commerce

Types of specialization Specialization and Exchange Historical background of commerce in Nigeria Disadvantages of barter system Contract of Employment: Terms of employment contract Principle of Marketing: People as a marketing mix and their importance Principle of Marketing: Positioning as a marketing mix Principle of Marketing: Packaging as a marketing mix Elements of promotion in marketing mix Principle of Marketing: Promotion as a marketing mix Principle of Marketing: Place as a marketing mix Principle of Marketing: Price as a marketing mix Principles of Marketing: The seven principles of marketing mix Factors necessary for division of labour Disadvantages of division of labour Advantages of division of labour Concept of Outbound Marketing Inbound Marketing explained Types of production in commerce Commerce: Definitions and Scopes of Commerce

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