question What is the primary focus of the concept of utility in economics

Which of the following is a component of commerce that involves buying and selling of goods?

A. Accounting
B. Marketing
C. Finance
D. 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 significance of ethics in commerce?

A. Maximizing profits at any cost
B. Ensuring fair and ethical business practices
C. Ignoring societal responsibilities
D. Exploiting consumers

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

A. Marketing
B. Finance
C. Accounting
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

In commerce, what is the function of accounting?

A. Buying and selling goods
B. Record-keeping and financial reporting
C. Market research
D. Human resource management

What is the primary focus of microeconomics in commerce?

A. Aggregate economic indicators
B. Individual economic entities and their decision-making
C. International trade
D. Government fiscal policy

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 primary objective of commerce?

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

What is the purpose of the International Organization for Standardization (ISO) in commerce?

A. Regulating international trade
B. Developing and publishing international standards
C. Managing fiscal policy
D. Controlling inflation

Commerce MCQS - QUESTION DETAILS

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