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 is a disadvantage of nationalization
It promotes poor economic planning
The cost of services is not determined by by market forces
It may lead to rationalization of resources
The development of local skills and technologyis retarded
Correct answer is D
No explanation has been provided for this answer.
The most essential element of a product is the
price
utility
design
colour
Correct answer is B
No explanation has been provided for this answer.
A person who is cheated in business transaction can seek legal remedy
even if the agreement is verbal and the amount involved is large
only if the business is a sole proprietorship whose owner is known
regardless of the form of business organization
only if the transaction is documented in a contract
Correct answer is D
No explanation has been provided for this answer.
A minor is not permitted to enter into a valid contract because he
Cannot pay the consideration
Is too young to interpret the law
Is young in the eye of the law
May not be able to write the contract
Correct answer is C
No explanation has been provided for this answer.
breach
performance
fault
frustration
Correct answer is D
No explanation has been provided for this answer.