Commerce Questions and Answers
Test and improve your knowledge of the fundamentals of buying and selling with these Commerce past questions and answers.
Test and improve your knowledge of the fundamentals of buying and selling with these Commerce past questions and answers.
The selling of articles from place to place on foot is
mail order
itinerant trading
barter
self service
Correct answer is B
Itinerant means traveling from place to place. Itinerant retailers have no fixed place of business. They move from place to place for selling their goods to the consumers. Itinerant sell in small quantities. They invest a very small amount of capital.
One roof containing a number of shops is a
tied shop
mail order firm
department store
chain store
Correct answer is C
A department store is a very large store that is usually located in a mall that sells everything from clothes to shoes to sheets to towels to appliances to lots of things. It has different stores under that roof. An example in Nigeria is shoprite mall
The import of foreign-produced goods to be re-exported is known as
domestic trade
wholesale trade
entrepot trade
counter trade
Correct answer is C
Entreport; Trade in which imported goods are re-exported with or without any additional processing or repackaging
Which of the following factors is not to be considered in starting a retail trade?
Size of the business
Nature of the business
Amount of capital required
Level of tax payable
Correct answer is D
No explanation has been provided for this answer.
buy from many manufacturers
maintain personal relationship with customers
stock only one line of goods in their stalls
do not separate business money from personal money
Correct answer is B
Small scale retailers are also called fixed shop retailers. They have fixed shops of their own and hold small stocks located in market areas or residential places.
They attend to customers personally and cater to their individual tastes and needs.,therby building a good customer-seller relationship