1st Year Principles of Commerce Chapter 2 TestNature and Scope of Commerce

Q1. Multiple choice questions (Attempt all · 10 × 1 = 10)

1. Commerce is the component of:

   1. Industry

   2. Trade

   3. Business

   4. Agriculture

2. A business in which goods are produced?

   1. Trade

   2. Commerce

   3. Industry

   4. Business

3. Industry is a component of:

   1. Commerce

   2. Trade

   3. Business

   4. Government

4. Auxiliaries of trade is a branch of:

   1. Trade

   2. Commerce

   3. Industry

   4. Agriculture

5. Two important components of the business:

   1. Trade and commerce

   2. Industry and commerce

   3. Trade and industry

   4. Profit and loss

6. Secondary industry can be divided into two parts/types:

   1. Constructive, extractive

   2. Constructive, manufacturing

   3. Extractive, genetics

   4. Constructive, genetics

7. Exchange of things is called:

   1. Finance

   2. Business transaction

   3. Barter system

   4. Both a and c

8. Commerce means the activities which help in:

   1. Buying and selling of goods

   2. Transportation of goods

   3. Transferring goods from factory to consumers

   4. None of the above

9. Two types of industry are:

   1. Constructive, genetics

   2. Extractive, genetics

   3. Primary ,secondary

   4. Constructive, manufacturing

10. Aids to trade are:

    1. Transportation

    2. Insurance

    3. Bank

    4. All of these