Commerce Past Questions

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11
Sole enterprise may flourish best in
  • A. a mining business
  • B. a retailing business
  • C. an oil exploration business
  • D. a car assembly business
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12
The use of coin-operated machines to sell goods is a form of
  • A. personal selling
  • B. retailing
  • C. wholesaling
  • D. mail-order selling
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13
What is the major function of the wholesaler?
  • A. buying from small-scale producers and selling to exporters
  • B. buying in bulk and selling in small quantities
  • C. granting of credit facilities to retailers
  • D. providing information to manufacturers on market situation
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14
The rate at which a country's exports exchange for its imports is called
  • A. balance of payments
  • B. balance of trade
  • C. terms of payment
  • D. terms of trade
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15
The difference between the total payments for imports and the receipts from exports within a given period is referred to as
  • A. balance of payments
  • B. balance of trade
  • C. comparative cost advantage
  • D. comparative advantage
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