Trade: Objective Questions with Answers
1. What is the primary objective of trade in business?
a) Maximizing profits
b) Providing goods and services
c) Reducing taxes
d) Ensuring monopoly
Answer: b) Providing goods and services
2. Which type of trade involves buying and selling within a country?
a) Foreign trade
b) Retail trade
c) Domestic trade
d) Wholesale trade
Answer: c) Domestic trade
3. Which of the following is not a component of trade?
a) Banking
b) Transportation
c) Communication
d) Manufacturing
Answer: d) Manufacturing
4. What does "wholesale trade" involve?
a) Selling goods directly to consumers
b) Selling goods in bulk to retailers
c) Selling services to businesses
d) Selling international products
Answer: b) Selling goods in bulk to retailers
5. What is the main role of retail trade?
a) Exporting goods
b) Manufacturing goods
c) Selling goods to final consumers
d) Selling goods in bulk
Answer: c) Selling goods to final consumers
6. Which of the following best defines foreign trade?
a) Trade within state boundaries
b) Trade within national boundaries
c) Trade between two or more countries
d) Trade restricted to online platforms
Answer: c) Trade between two or more countries
7. Which document is mandatory in international trade?
a) Invoice
b) Bill of exchange
c) Letter of credit
d) Debit note
Answer: c) Letter of credit
8. What is the key benefit of e-commerce in trade?
a) Decrease in internet usage
b) Restricted market access
c) Global reach and convenience
d) Increased paperwork
Answer: c) Global reach and convenience
9. Which of the following is an example of auxiliary trade activity?
a) Buying goods from wholesalers
b) Advertising products
c) Selling goods to retailers
d) Exporting goods to another country
Answer: b) Advertising products
10. What is the primary purpose of trade organizations?
a) To promote competition
b) To establish monopolies
c) To facilitate smooth trade practices
d) To increase government intervention
Answer: c) To facilitate smooth trade practices
Comments
Post a Comment