question What is the purpose of the General Agreement on Tariffs and Trade GATT in commerce

What is the primary objective of consumer protection laws in commerce?

A. Maximizing profits for businesses
B. Ensuring fair and ethical business practices
C. Restricting competition
D. Reducing product quality

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 "brand equity" refer to?

A. Market share
B. The financial value of a brand
C. Advertising expenses
D. Product pricing

What does the term "tariff" refer to in international commerce?

A. Government subsidies
B. Import and export taxes
C. Currency exchange rates
D. Economic sanctions

What is the primary function of the International Monetary Fund (IMF) in commerce?

A. Regulating international trade
B. Providing financial assistance to countries facing balance of payments problems
C. Managing fiscal policy
D. Controlling inflation

What is the primary focus of the concept of "time value of money" in finance?

A. Market trends
B. Evaluating investment opportunities over time
C. International trade agreements
D. Consumer behavior

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

What is the primary purpose of a balance of trade in international commerce?

A. Regulating international trade
B. Monitoring the exchange rate
C. Measuring the difference between exports and imports
D. Managing fiscal policy

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 the International Chamber of Commerce (ICC)?

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

Commerce MCQS - QUESTION DETAILS

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