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Questions on Commerce


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Academic Quotes

The first problem for all of us, men and women, is not to learn, but to unlearn - Gloria Steinem

The act of unlearning is an excellent form of learning. Infact, you will need the skills of unlearning if you intend to become an expert in your desired field.

Do yourself a favor by unlearning, learning and re-learning on a daily basis

If you don't design your own life plan, chances are you'll fall into someone else's plan. And guess what they have planned for you? Not much - Jim Rohn

There's something special about you. It doesn't matter whether you work for a company or someone; what matters is the amount of investment you've made on yourself.

Investing in yourself is the best life plan you can design for your future

Smile - Len Academy

Peace begins with a smile - Mother Teresa

Never underestimate the power of your smile. It can lift up the depressed, improve the mood of the downtrodden and even discourage a suicidal attack. Also remember that your smile makes you more beautiful

Smile always for your own good and the good of others

The only person who is educated is the one who has learned how to learn …and change - Carl Rogers

To perfect your learning process, you must learn, unlearn and re-learn. Infact, we all need to learn how to unlearn those vices we know about ourselves.

Do you know that seeing the devastating consequences of vices (perhaps in movies or real-life) can initiate the unlearning processes in one who does such?

Start where you are. Use what you have. Do what you can - Arthur Ashe

Start now. You've got all it takes to achieve greatness, so no environment can limit you. Just begin something, give in your best and don't stop.

Remember, don't stop giving your best if you truly desire greatness. Nothing can stop you except yourself


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 (15) Paged

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Topics in Commerce

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 Differences between balance of trade and balance of payments Balance of payment deficit and balance of payment surplus Disadvantages of foreign trade Divisions of foreign trade


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