SS3 Second Term Commerce Past Questions And Answers

Question: What does the term “E-commerce” refer to?

 

a) Environmental commerce

b) Electronic commerce

c) Exponential commerce

d) Ethical commerce

 

Answer: b) Electronic commerce

 

Question: What is the primary function of the World Trade Organization (WTO)?

 

a) Regulate global currency exchange

b) Facilitate international trade negotiations

c) Provide humanitarian aid

d) Control worldwide interest rates

 

Answer: b) Facilitate international trade negotiations

 

Question: Which of the following is an example of a regressive tax?

 

a) Income tax

b) Property tax

c) Sales tax

d) Corporate tax

 

Answer: c) Sales tax

 

Question: What is the concept of elasticity in economics?

 

a) The ability of a good to satisfy human wants

b) The responsiveness of quantity demanded to a change in price

c) The total utility derived from consuming one additional unit of a good

d) The cost of production per unit of output

 

Answer: b) The responsiveness of quantity demanded to a change in price

 

Question: In financial markets, what does the term “Bull Market” indicate?

 

a) Decline in stock prices

b) Stable economic conditions

c) Rising stock prices and optimistic investor sentiment

d) Stagnant economic growth

 

Answer: c) Rising stock prices and optimistic investor sentiment

 

Question: What is the purpose of a central bank in a country’s financial system?

 

a) Manage fiscal policy

b) Regulate international trade

c) Control interest rates and money supply

d) Administer tax policies

 

Answer: c) Control interest rates and money supply

 

Question: What does the term “Monetary Policy” refer to?

 

a) Government spending to stimulate the economy

b) Regulation of financial markets

c) Control of the money supply and interest rates by a central bank

d) International trade agreements

 

Answer: c) Control of the money supply and interest rates by a central bank

 

Question: What is the purpose of a SWOT analysis in business?

 

a) Assessing employee performance

b) Evaluating market demand

c) Identifying internal strengths and weaknesses, as well as external opportunities and threats

d) Calculating profit margins

 

Answer: c) Identifying internal strengths and weaknesses, as well as external opportunities and threats

 

Question: In financial accounting, what does the term “Depreciation” refer to?

 

a) Increase in the value of assets

b) Distribution of profits to shareholders

c) Reduction in the value of assets over time

d) Cost of goods sold

 

Answer: c) Reduction in the value of assets over time

 

Question: What is the primary goal of financial management in a business?

 

a) Maximizing shareholder wealth

b) Minimizing employee turnover

c) Expanding market share

d) Achieving social responsibility

 

Answer: a) Maximizing shareholder wealth

 

Question: What is the difference between a sole proprietorship and a partnership in business?

 

a) Number of owners

b) Taxation structure

c) Liability of owners

d) Size of the business

 

Answer: a) Number of owners

 

Question: What is the role of the Federal Reserve in the United States?

 

a) Enforcing antitrust laws

b) Regulating international trade

c) Overseeing the banking system and monetary policy

d) Managing fiscal policy

 

Answer: c) Overseeing the banking system and monetary policy

 

Question: What does the term “Supply Chain Management” involve?

 

a) Controlling labor unions

b) Managing the flow of goods and services from production to consumption

c) Setting product prices

d) Monitoring stock market trends

 

Answer: b) Managing the flow of goods and services from production to consumption

 

Question: In financial terms, what does the acronym IPO stand for?

 

a) International Property Ownership

b) Initial Public Offering

c) Income and Profit Optimization

d) Investment Portfolio Oversight

 

Answer: b) Initial Public Offering

 

Question: What is the significance of the term “Invisible Hand” in economics?

 

a) Government intervention in markets

b) Natural forces of supply and demand

c) Impact of technological advancements

d) Importance of international trade agreements

 

Answer: b) Natural forces of supply and demand