SS1 third Term commerce past questions and answers

SS1 third Term commerce past questions and answers

Here they are;

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

a) Evaluate market demand

b) Assess internal strengths and weaknesses, and external opportunities and threats

c) Determine pricing strategies

d) Calculate return on investment

Answer: b) Assess internal strengths and weaknesses, and external opportunities and threats

Question: What is the term for the process of converting raw materials into finished goods for sale?

a) Distribution

b) Production

c) Marketing

d) Procurement

Answer: b) Production

Question: In marketing, what is the concept of the "four Ps"?

a) Product, Price, Promotion, Placement

b) Profit, Production, Planning, Personnel

c) Publicity, Packaging, Positioning, Payment

d) Partnership, Performance, Perseverance, Planning

Answer: a) Product, Price, Promotion, Placement

Question: Which economic indicator measures the average change in prices of a fixed basket of goods and services over time?

a) GDP growth rate

b) Unemployment rate

c) Consumer Price Index (CPI)

d) Producer Price Index (PPI)

Answer: c) Consumer Price Index (CPI)

Question: What is the role of a human resource manager in an organization?

a) Manage financial accounts

b) Handle customer complaints

c) Recruit, train, and manage employees

d) Develop marketing strategies

Answer: c) Recruit, train, and manage employees

Question: What is a market niche?

a) A large market with numerous competitors

b) A segment of the market for a specific kind of product or service

c) A market without any competition

d) A market with only one dominant player

Answer: b) A segment of the market for a specific kind of product or service

Question: What is the purpose of a budget in financial management?

a) Record historical financial data

b) Plan and control financial activities

c) Calculate return on investment

d) Assess market demand

Answer: b) Plan and control financial activities

Question: What does the term "e-commerce" refer to?

a) Electronic communication

b) Electronic currency

c) Electronic commerce

d) Economic competition

Answer: c) Electronic commerce

Question: In international trade, what is protectionism?

a) Promoting free trade

b) Reducing barriers to trade

c) Restricting imports to protect domestic industries

d) Encouraging foreign investment

Answer: c) Restricting imports to protect domestic industries

Question: What is the purpose of a mission statement in business?

a) Outline financial goals

b) Define the company's purpose and values

c) Analyze market trends

d) Plan advertising campaigns

Answer: b) Define the company's purpose and values

Question: What is the term for the total value of goods and services produced within a country's borders in a specific time period?

a) Gross National Product (GNP)

b) Net Domestic Product (NDP)

c) Gross Domestic Product (GDP)

d) National Income (NI)

Answer: c) Gross Domestic Product (GDP)

Question: What is a blue-chip stock?

a) Low-risk stock of a well-established company

b) High-risk stock of a startup

c) Government-issued stock

d) Stock with no market value

Answer: a) Low-risk stock of a well-established company

Question: What is the term for the process of bringing a new product to the market?

a) Product differentiation

b) Product development

c) Market segmentation

d) Product launch

Answer: d) Product launch

Question: What is the role of the World Trade Organization (WTO) in international trade?

a) Settling disputes between countries

b) Providing loans to developing nations

c) Controlling global oil prices

d) Regulating the stock market

Answer: a) Settling disputes between countries

Question: In accounting, what is depreciation?

a) Increase in the value of assets

b) Decrease in the value of assets over time

c) Total revenue minus total expenses

d) Annual profit distribution to shareholders

Answer: b) Decrease in the value of assets over time

Question: What is the purpose of market research in business?

a) Assessing employee performance

b) Identifying and understanding market opportunities and trends

c) Managing financial accounts

d) Controlling production costs

Answer: b) Identifying and understanding market opportunities and trends

Question: What is a trade deficit?

a) Excess of exports over imports

b) Excess of imports over exports

c) Balanced trade between imports and exports

d) Absence of international trade

Answer: b) Excess of imports over exports

Question: What is the term for the rate at which one currency can be exchanged for another?

a) Inflation rate

b) Interest rate

c) Exchange rate

d) Discount rate

Answer: c) Exchange rate

Question: What is the purpose of a cash flow statement in financial reporting?

a) Evaluate market demand

b) Assess market competition

c) Summarize financial transactions

d) Show the flow of cash into and out of a business

Answer: d) Show the flow of cash into and out of a business

Question: What is the term for the process of dividing a market into distinct groups based on similar characteristics?

a) Market differentiation

b) Market segmentation

c) Market expansion

d) Market integration

Answer: b) Market segmentation