(i) Which of the following activities is not involved in the study of commerce?

  1. A study of auxiliary services
  2.   A study of how factors of production can be utilized to the optimal point so as to achieve more goods and services.
  3.  A study of how best the bank clerks could be organized so as to satisfy the needs of a consumer
  4.  A study of trade and the principal activity in the distribution of goods
Choose Answer :

(ii)   The last person in the distribution chain is:

  1.   consumer
  2. consumer and retailer
  3. manufacturer
  4.   retailer
Choose Answer :

(iii)The ability of goods and services to satisfy human wants is known as:

  1.  production
  2. specialization
  3.  subsistence
  4.  utility
Choose Answer :

(iv)Distinguishing mark attached to the product and which cannot be used by any other producer is called:

  1. brand name
  2. kite mark
  3. producer mark
  4.  trade mark
Choose Answer :

(v)    A retailer may prefer to deal with a wholesale firm because:

  1.  there is less likelihood of loss through damage
  2. they break bulk and re-pack the goods
  3.  they offer a large choice of goods from different manufacturers
  4.  they provide storage for goods until the retailer needs them.
Choose Answer :

(vi)Variable cost is that which varies with:

  1. company position
  2. output
  3.  technology
  4.  time
Choose Answer :

(vii)         The exchange of goods and services among different countries is called:

  1.  barter trade
  2. domestic trade
  3. foreign trade
  4.  internal trade
Choose Answer :

(viii)       Re-order level is the level:

  1. necessary to safeguard against delays
  2. when new stock is to be sold
  3.  when new stock is to be ordered
  4.  when supplies are received
Choose Answer :

(ix)An aid to trade that safeguards goods and trade against loss is called:

  1.   advertising
  2. communication
  3.  insurance
  4. warehousing
Choose Answer :

(x)    A building which is usedto store goods on payment:

  1.  bonded warehouse
  2. private warehouse
  3. public warehouse
  4. goods warehouse
Choose Answer :

For Call,Sms&WhatsApp: 255769929722 / 255754805256

   Click Here To Access You Scheme(ONLY IF YOU A HAVE CODE)