Division Of Commerce - JSS1 Business studies Past Questions and Answers - page 1
1
What is the term used for the exchange of goods and services between parties?
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A
Trade
B
Commerce
C
Manufacturing
D
Distribution
2
Which of the following is not considered an aid to trade?
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A
Transportation
B
Communication
C
Manufacturing
D
Insurance
3
Which type of trade involves the bulk purchase of goods at discounted prices?
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A
Wholesale
B
Retail sale
C
Import
D
Export
4
What term is used for the sale of goods and services directly to consumers?
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A
Wholesale
B
Retail sale
C
Foreign trade
D
Import
5
Which type of trade involves transactions between different countries?
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A
Home trade
B
Wholesale trade
C
Import trade
D
Export trade
6
What is the term for the purchase of goods from foreign countries for domestic consumption?
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A
Import
B
Export
C
Wholesale
D
Retail sale
7
Which division of commerce involves buying and selling within a single country's borders?
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A
Home trade
B
Foreign trade
C
Wholesale trade
D
Retail sale
8
What are aids to trade?
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A
Elements that facilitate smooth trading activities
B
Elements that hinder trading activities
C
Elements that regulate trade
D
Elements that control trade prices
9
What type of trade involves the sale of goods and services for personal use?
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A
Wholesale
B
Retail sale
C
Export
D
Import
10
What does foreign trade refer to?
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A
Trade within a single country
B
Trade between different countries
C
Trade within a single city
D
Trade between neighboring countries
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