Commerce Past Questions And Answers
2811
What is a Quota?
- A. Tax pad on goods produced within a country
- B. A physical restriction placed on quantity of goods that can be imported
- C. Tax paid on goods produced outside a country
- D. Ban on all imported goods
2812
The authority given to a bank to make regular payments on behalf of a customer is
- A. credit transfer
- B. bank endorsement
- C. standing order
- D. bank overdraft
2813
The entertainment industry is classified under
- A. extractive industry
- B. manufacturing industry
- C. constructive industry
- D. commercial industry
2814
An increase in the volume of sales is also an increase in
- A. profit
- B. turnover
- C. fixed assets
- D. owner's equity
2815
Who among the following does not render direct service?
- A. Teachers
- B. Musicians
- C. Doctors
- D. Retailers
2816
A major merit of the retaining middlemen is to
- A. regulate price for manufacturers
- B. stock perishable goods
- C. pay cash to the bank for manufacturers
- D. stock goods produced by different manufacturer
2817
The use of brand names and trademarks is to
- A. control the supply of goods
- B. prevent imitation by competitors
- C. stabilize the prices of goods
- D. make after-sale service possible
2818
The most important resources of business is_______
- A. Human resources
- B. Money resources
- C. Material resources
- D. Opportunities
2819
Production ends when goods and services ________
- A. reach the final consumer
- B. are used for manufacturing
- C. are packaged and labelled
- D. are sold to the middlemen
2820
Which ofthe following is notan aim of advertising? To
- A. drive away smaller firms
- B. satisfy consumers
- C. help firms compete with others
- D. make one