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 document issued by a port authority for goods deposited is a
bill of lading
bill of sight
consular invoice
warehouse warrant
Correct answer is C
A consular invoice is a document certifying a shipment of goods and shows information such as the consignor, consignee, and value of the shipment.
To eliminate middlemen, there should be a retail outlet such as
producer co-operative
consumer co-operative
multiple shop
departmental store
Correct answer is C
In a typical distribution channel, the middleman is the wholesaler or the retailer. Manufacturers would eliminate the middleman by selling products directly to retail stores or consumers. Wholesalers can do the same by skipping retailers and selling directly to consumers.
commercial
manufacturing
service
extractive
Correct answer is D
Extractive industry are Any processes that involve the extraction of raw materials from the earth to be used by consumers. Mrs Jones is into fishing (extracting fish from the river for consumption)
One of the major determinants of the volume of production is
the market size
the availability of banks
sex distribution
government policy
Correct answer is A
There are various factors which affect the volume of production which includes:
An important feature of land is that it
has an elastic supply
is an active factor of production
is heterogenous in nature
is subject to returns to scale
Correct answer is B
Land possesses the following characteristics: