FUNDAMENTALS OF COMMERCE UNIT-1

Contents

#1. Where is the headquarters of the WTO located?

#2. These are agents whose function is to bring the buyer and the seller into contact.

#3. The components of a Balance of Payment account are ____________.

#4. Which of these institutions is not a part of the World Bank community?

#5. Hindrance of risk is removed by which of the following?

#6. Which document is used to declare the details of imported goods to customs authorities?

#7. Purchasing goods from a foreign country is called:

#8. What is a customs duty?

#9. Hindrance of Time is removed by which of the following?

#10. A form utility is created by which of the following?

#11. Which organization regulates international trade and sets rules for imports and exports?

#12. The middlemen between the wholesaler and consumer are called:

#13. Which of the following describes e commerce?

#14. Balance of Payments uses the _________ system of accounting.

#15. Place utility is created by which of the following?

#16. Along with the World Bank and _______ , WTO is the third economic pillar of worldwide dimensions.

#17. Who among the following appoints the agent?

#18. What is the primary goal of commerce in societal development?

#19. Commerce plays a significant role in creating employment opportunities. This is an example of its impact on:

#20. Which of the following is an example of e-commerce?

#21. What does "FOB" stand for in international trade?

#22. An increase in the foreign exchange reserve gets recorded on the _________ of the Balance of Payments account.

#23. How does commerce contribute to societal development in terms of innovation and technology?

#24. Which type of commerce involves the exchange of goods and services within a country's borders?

#25. Mobile traders who deal in low-priced articles with no fixed place of business are called:

#26. Who among these can check the price by holding back the goods when prices fall and releasing the goods when prices rise?

#27. Which of the following is an example of e-commerce?

#28. Which of the following is not economic activity?

#29. How many members are present in the WTO?

#30. This retail business acts as a universal supplier of a wide variety of products.

#31. Which of the following is not a component of commerce?

#32. Which of the following is not Manufacturing Industry?

#33. What do you call the buying and selling of goods or services within the geographical area of a country?

#34. How many observers are there in the WTO?

#35. Import and export of goods are known as _____.

#36. One example of Small Scale Fixed retailers among these is:

#37. Which of the following is not considered an aid of trade?

#38. Hindrance of Information is removed by which of the following?

#39. What is a tariff?

#40. If a country has a trade deficit, it means:

#41. The interest amount on deposits from a foreign bank is recorded in the current account because it is ______.

#42. Which term represents the difference between a country's exports and imports of goods only?

#43. Time utility is created by which of the following?

#44. Goods imported for the purpose of export are known as:

#45. TRIPS (Trade-Related Aspects of Intellectual Property Rights) agreement is administered by the:

#46. Trade Deficit occurs when ______________.

#47. Which international trade term signifies that the seller is responsible for all costs and risks until the goods are delivered to the buyer's premises?

#48. Warehousing creates which of the following utility?

#49. When payments of foreign exchange are more than receipts, then the Balance of Payments is __________.

#50. When did the World Trade Organization come into effect?

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