Commerce questions and answers

Commerce Questions and Answers

Test and improve your knowledge of the fundamentals of buying and selling with these Commerce past questions and answers.

1,736.

The process by which government takes over the ownership and control of an existing private business is?

A.

industrialization

B.

privatization

C.

nationalization

D.

commercialization

Correct answer is C

No explanation has been provided for this answer.

1,737.

The duty of an agent of necessary to a principle is based on?

A.

trust

B.

ability

C.

negotiation

D.

mutual agreement

Correct answer is A

No explanation has been provided for this answer.

1,738.

In a contract, offer is described as a counter offer if?

A.

a new clause is introduced

B.

it is not understood

C.

it is not addressed to a particular person

D.

it leaves no room for renegotiation

Correct answer is A

No explanation has been provided for this answer.

1,739.

Which of the following is not a method of discharging a contract?

A.

Performance

B.

Breach

C.

Consideration

D.

Frustration

Correct answer is C

No explanation has been provided for this answer.

1,740.

A major reason why government regulate business activities is to?

A.

prevent producers from selling at profit

B.

providing employment to schools

C.

ensures fair practices and consumers protection

D.

force producers to export more goods

Correct answer is C

No explanation has been provided for this answer.