question In commerce what is the function of accounting

What is the primary function of the Central Bank in a country's commerce?

A. Managing foreign affairs
B. Regulating and controlling the money supply and monetary policy
C. Market research
D. Consumer protection

In commerce, what does the term "oligopoly" signify?

A. A market structure with a single seller
B. A market structure with a few large sellers
C. A market structure with many small sellers
D. Government intervention in the market

What is the primary function of a central market in commerce?

A. Regulating international trade
B. Facilitating the exchange of goods and services
C. Managing fiscal policy
D. Controlling inflation

In commerce, what does the term "elasticity" refer to?

A. Consumer preferences
B. The responsiveness of quantity demanded to a change in price
C. International trade agreements
D. Government expenditure

In commerce, what does the term "brand loyalty" refer to?

A. A condition where consumers switch between brands frequently
B. A strong preference for a particular brand over others
C. International trade agreements
D. Government expenditure

What is the primary purpose of the Federal Reserve System (the Fed) in the United States?

A. Regulating international trade
B. Managing fiscal policy
C. Controlling inflation
D. Conducting monetary policy and ensuring financial stability

In commerce, what is the significance of a patent?

A. Protecting the environment
B. Providing legal protection for inventions
C. Controlling inflation
D. Facilitating international trade

What is the primary function of the International Chamber of Commerce (ICC)?

A. Regulating international trade
B. Promoting international business and trade
C. Managing fiscal policy
D. Controlling inflation

Which international organization promotes fair labor standards and workers' rights in commerce?

A. International Monetary Fund (IMF)
B. World Trade Organization (WTO)
C. International Labour Organization (ILO)
D. World Health Organization (WHO)

In commerce, what does the term "market equilibrium" signify?

A. A condition where demand exceeds supply
B. A condition where supply exceeds demand
C. A point where quantity demanded equals quantity supplied
D. A point of government intervention

Commerce MCQS - QUESTION DETAILS

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