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.
Which of the following economic unions is made up of countries in West Africa only?
ACP
ECOWAS
NATO
ADB
Correct answer is B
No explanation has been provided for this answer.
The takeover by government of Sanking Sillah and Sons Ltd is referred to as
privatization
indigenization
commercialization
nationalization
Correct answer is D
No explanation has been provided for this answer.
One disadvantage of indigenization is that it
discourages foreign control of an economy
encourages local retention of profits
encourages the participation of indigenes in economic development
discourages foreign investment
Correct answer is D
Indigenization discourages foreign investment in a way that foreign investors would not want to invest in the said country because of the possibility of their companies/ businesses being converted to the state's property.
Which of the following is not an advantage of marketing?
Creation of demand
Ensuring effective distribution of goods
Implementing government regulations
Application of marketing techniques
Correct answer is C
The implementation of government regulations is not a function of marketing, asmarketing is mainly concerned with the promotion and selling products or services to the public
A group of musicians can come together to form a
chamber of commerce
public corporation
trade association
trade union
Correct answer is C
A trade association is an organization founded and funded by people that operate in a specific industry. If group of musicians come together to form an association that can promote and protect its members' interest, then it is a trade association