question What is the purpose of market research in commerce

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

In commerce, what does the term "market segmentation" refer to?

A. A condition where consumers have similar preferences
B. Dividing a market into distinct groups with similar needs and characteristics
C. International trade agreements
D. Consumer protection laws

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 branch of commerce involves the study of consumer behavior and market trends?

A. Marketing
B. Finance
C. Accounting
D. 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

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

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

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 does the term "e-commerce" refer to?

A. Traditional business practices
B. Electronic buying and selling of goods and services
C. Physical retail stores
D. Human resource management

What is the purpose of market research in commerce?

A. Financial reporting
B. Assessing consumer needs and preferences
C. Human resource management
D. Product pricing

What is the role of finance in commerce?

A. Production planning
B. Money management and financial decision-making
C. Advertising
D. Quality control

Commerce MCQS - QUESTION DETAILS

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