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?

A

Trade

B

Commerce

C

Manufacturing

D

Distribution

correct option: a
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2

Which of the following is not considered an aid to trade?

A

Transportation

B

Communication

C

Manufacturing

D

Insurance

correct option: c
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3

Which type of trade involves the bulk purchase of goods at discounted prices?

A

Wholesale

B

Retail sale

C

Import

D

Export

correct option: a
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4

What term is used for the sale of goods and services directly to consumers?

A

Wholesale

B

Retail sale

C

Foreign trade

D

Import

correct option: b
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5

Which type of trade involves transactions between different countries?

A

Home trade

B

Wholesale trade

C

Import trade

D

Export trade

correct option: d
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6

What is the term for the purchase of goods from foreign countries for domestic consumption?

A

Import

B

Export

C

Wholesale

D

Retail sale

correct option: a
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7

Which division of commerce involves buying and selling within a single country's borders?

A

Home trade

B

Foreign trade

C

Wholesale trade

D

Retail sale

correct option: a
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8

What are aids to trade?

A

Elements that facilitate smooth trading activities

B

Elements that hinder trading activities

C

Elements that regulate trade

D

Elements that control trade prices

correct option: a
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9

What type of trade involves the sale of goods and services for personal use?

A

Wholesale

B

Retail sale

C

Export

D

Import

correct option: b
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10

What does foreign trade refer to?

A

Trade within a single country

B

Trade between different countries

C

Trade within a single city

D

Trade between neighboring countries

correct option: b
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