FUNDAMENTALS OF COMMERCE UNIT-1

Contents

#1. Which of the following is not a component of the balance of trade?

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

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

#4. What is the other name for Home trade?

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

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

#7. Which of the following describes e commerce?

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

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

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

#11. How does commerce contribute to job creation in an economy?

#12. Commerce can help improve the standard of living by:

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

#14. A Valid definition of a business purpose is:

#15. Hindrance of Finance is removed by which of the following?

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

#17. What is an aid of trade?

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

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

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

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

#22. Which of the following is not a component of the Balance of Payments?

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

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

#25. The middlemen between the manufacturer and retailer are called:

#26. Balance of Payments is an accounting statement that records monetary transactions between ________.

#27. Balance of payments is a ___________ concept as compared to balance of trade.

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

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

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

#31. Import and export of services are known as ________.

#32. What is the primary function of trade logistics in aids of trade?

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

#34. The Balance of Payment account records the inflow of foreign exchange on the _______.

#35. Industry concerned with:

#36. The measures taken to improve the negative Balance of Payments include ___________.

#37. Balance of Payments is an accounting statement for _________.

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

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

#40. 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?

#41. Which document serves as a contract between the exporter and the carrier for the transportation of goods?

#42. Which type of commerce involves the exchange of goods and services between countries?

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

#44. What does a positive balance of trade indicate?

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

#46. WTO is replaced which of the following organizations?

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

#48. What is the primary goal of commerce in economic development?

#49. Foreign exchange transactions that are independent of other activities in the Balance of Payments account are ________ transactions.

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

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