question What is the importance of information technology in modern commerce

In commerce, what is the role of entrepreneurship?

A. Resource allocation
B. Efficient production processes
C. Identifying business opportunities and innovation
D. Financial management

What is the primary goal of risk management in commerce?

A. Maximizing profits
B. Minimizing uncertainty and potential losses
C. Expanding market share
D. Increasing production efficiency

What is the primary objective of commerce?

A. Profit maximization
B. Wealth creation
C. Value addition
D. Market dominance

What is the significance of the Gross National Product (GNP) in commerce?

A. Measuring the total value of goods and services produced domestically
B. Evaluating consumer preferences
C. Monitoring international trade
D. Assessing government expenditure

Which aspect of commerce focuses on efficient resource utilization and production processes?

A. Marketing
B. Accounting
C. Finance
D. Management

What is the importance of information technology in modern commerce?

A. Enhancing financial transactions
B. Facilitating communication and data management
C. Human resource recruitment
D. Product design

What does the term "opportunity cost" signify in commerce?

A. Total cost of production
B. The cost of forgoing the next best alternative when making a decision
C. Market price
D. Government expenditure

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

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

A. Physical goods and services
B. Money invested in business for production
C. Human resources
D. Marketing strategies

What is the significance of globalization in commerce?

A. Localized business operations
B. Limited market access
C. Expanded international trade and market presence
D. Reduced competition

Commerce MCQS - QUESTION DETAILS

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