SS1 Third Term Commerce Past Questions And Answers

Question: What is the term for the money charged by a lender for the use of borrowed money?

A) Salary

B) Rent

C) Interest

D) Dividend

Answer: C) Interest

Question: In the context of international trade, what does “FTA” stand for?

A) Free Trade Agreement

B) Foreign Tax Assessment

C) Fiscal Transparency Act

D) Financial Trading Alliance

Answer: A) Free Trade Agreement

Question: Which type of market research involves gathering information directly from people through surveys or interviews?

A) Secondary research

B) Tertiary research

C) Primary research

D) Exploratory research

Answer: C) Primary research

Question: What is the term for the process of bringing goods into a country for the purpose of selling them?

A) Exporting

B) Importing

C) Outsourcing

D) Offshoring

Answer: B) Importing

Question: In the context of business ethics, what does CSR stand for?

A) Customer Service Representative

B) Corporate Social Responsibility

C) Consumer Satisfaction Rating

D) Cost and Schedule Review

Answer: B) Corporate Social Responsibility

Question: What is the role of the Securities and Exchange Commission (SEC) in the financial market?

A) To regulate and oversee the stock market

B) To provide loans to businesses

C) To control interest rates

D) To manage foreign exchange rates

Answer: A) To regulate and oversee the stock market

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

A) Economic competition

B) Electronic commerce

C) Environmental conservation

D) Energy consumption

Answer: B) Electronic commerce

Question: Which economic system combines elements of both capitalism and socialism?

A) Capitalism

B) Socialism

C) Communism

D) Mixed economy

Answer: D) Mixed economy

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

A) To maximize sales

B) To minimize costs

C) To maximize shareholder wealth

D) To control inflation

Answer: C) To maximize shareholder wealth