Tag: organisation of commerce and management

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Questions Related to organisation of commerce and management

Multiple choice organisation of commerce and management trade trade and factors affecting trade trading and economic organisations trade and trade organisations

Latin America exports ______.

  1. Foodstuff

  2. Machinery

  3. Automobiles

  4. Minerals
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The main exports from Latin America are agricultural products .

It has long been associated with the production and export of a diverse range of agricultural commodities, whether it is coffee from Brazil and Colombia, beef from Argentina, or bananas from Ecuador

Multiple choice organisation of commerce and management trade trade and factors affecting trade trading and economic organisations trade and trade organisations

Which region mainly imports industrial raw materials?

  1. North America

  2. Africa

  3. Europe

  4. Australia
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation
  • Trade in raw materials is extremely important for the sustainability of European countries and their economies.
  •  Construction, chemicals, the automotive and aerospace industries, machinery and equipment are some of the sectors that are most dependent on access to raw materials.
  • The EU has an ongoing trade deficit in raw materials  (SITC sections 2 and 4, including non-manufactured goods such as oilseeds, cork, wood, pulp, textile fibres, ores and other minerals as well as animal and vegetable oils) since 2005.
Multiple choice organisation of commerce and management trade trade and factors affecting trade trading and economic organisations trade and trade organisations
Choose the correct word.
Primitive method of trade was known as ___________ system.

  1. Value

  2. Barter

  3. Traditional

  4. Money
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Barter is a system where people engage in exchange of goods and services without the use of money as payment. Instead in return of the item purchased, one has to provide some service or give some goods in return to the person from which the good is purchased.

Multiple choice organisation of commerce and management trade trade and factors affecting trade trading and economic organisations trade and trade organisations

Which of the following documents are required for international tourism?

  1. Passport

  2. Visa

  3. Travel insurance

  4. All of above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

To go to a foreign country, one needs a passport, visa, travel insurance and other documents. We should have currency of the country where we are going. For this we need to exchange our currency value with that currency.

Multiple choice organisation of commerce and management recent trends of business e-commerce and mobile commerce introduction to internet and e-commerce emerging modes of services

What is e-commerce?

  1. Buying and selling international goods

  2. Buying and selling products and services over the internet

  3. Buying and selling products and services not found in stores

  4. Buying and selling products having to do with computers

  5. Buying and selling selling of electronics goods
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Buying and selling products and services over the internet is e-commerce.

E-commerce refers to the process of buying or selling products or services over the Internet. ... E-commerce activities such as selling online can be directed at consumers or other businesses. Business to Consumer ( B2C ) involves the online sales of goods, services and provision of information directly to consumers.

Online shopping is a form of electronic commerce which allows consumers to directly buy goods or services from a seller over the Internet using a web browser. ... When an online store is set up to enable businesses to buy from another businesses, the process is called business-to-business (B2B) online shopping.

Business to consumer (B2C) – Transactions happen between businesses and consumers. ... Online retail typically works on a B2C model. Retailers with online stores such as Walmart, Macy's, and IKEA are all examples of businesses that engage in B2C ecommerce.

Multiple choice organisation of commerce and management recent trends of business e-commerce and mobile commerce introduction to internet and e-commerce emerging modes of services

What is e-commerce?

  1. Buying and selling international goods

  2. Buying and selling products and services over the Internet

  3. Buying and selling products and services not found in stores

  4. Buying and selling products having to do with computers

  5. Buying and selling of electronic goods
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

E-commerce -- electronic commerce or EC -- is the buying and selling of goods and services over an electronic network, primarily the internet.

Types of e-commerce:

  • According to the commercial profile: Focuses on type of parties participating in transaction.
  1. B2B (Business-to-Business): businesses whose clients are also businesses or organizations. For example, we could think about a construction materials company selling its products to architects and interior designers.
  2. B2C (Business-to-Consumer): businesses that sell their products or services directly to the consumer. This is the usual type and there are thousands of examples of clothes, shoes or electronics stores.
  3. C2B (Consumer-to-Business): sites in which consumers offer products or services and businesses bid on them. We are talking about the traditional websites for freelancers such as Freelancer, Twago, Nubelo or Adtriboo.
  4. C2C (Consumer-to-Consumer): businesses that facilitate the selling of products among consumers. The clearest example is eBay or any other second hand website.
  5. In addition to these types of electronic commerce, there are other popular types such as G2C (Goverment-to-Consumer), C2G (Consumer-to-Goverment) or B2E (Business-to-Employer).

Multiple choice organisation of commerce and management recent trends of business e-commerce and mobile commerce introduction to internet and e-commerce emerging modes of services

Purchase option's advantage (S) is (are) ________________.

  1. No financing is required. The risk of system obsolescence is shifted to the lessor

  2. The flexibility of modifying the system at work

  3. Insurance, maintenance and other expenses which are included in the rental charge

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The purchase option (often in leasing or equipment acquisition) can include various benefits like no immediate financing, shifting obsolescence risk, and bundled services like maintenance.

Multiple choice organisation of commerce and management recent trends of business e-commerce and mobile commerce introduction to internet and e-commerce emerging modes of services

For electronic banking, we should ensure the existence and procedures with regard to

  1. Identification of banking, we should ensure the existence and procedures with regard to

  2. Corrective steps to be taken in case of any deficiencies in the system.

  3. Steps for complying with the laws, rules and regulations

  4. All of the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

For electronic banking, we should ensure the existence and procedures with regard to identification of banking.

Electronic banking means 24-hour access to cash through an automated teller machine (ATM) or Direct Deposit of paychecks into checking or savings accounts. But electronic banking involves many different types of transactions, rights, responsibilities. 

Online banking, also known as internet banking, it is an electronic payment system that enables customers of a bank or other financial institution to conduct a range of financial transactions through the financial institution's website.

A bank identification number (BIN) is the initial four to six numbers that appear on a credit card. The bank identification number uniquely identifies the institution issuing the card. The BIN is key in the process of matching transactions to the issuer of the charge card.

Multiple choice organisation of commerce and management recent trends of business e-commerce and mobile commerce introduction to internet and e-commerce emerging modes of services

___________ is a used for online transactions.

  1. Physical terminal transaction systems

  2. Software terminal transaction systems

  3. Virtual terminals or gateways

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Used for online transactions:-

1) Physical terminal transaction systems

2) Software terminal transaction systems:-

Transaction processing is a way of computing that divides work into individual, indivisible operations, called transactions. A transaction processing system (TPS) is a software system, or software/hardware combination, that supports transaction processing.

A payment terminal, also known as a point of sale terminal, credit card terminal, EFTPOS terminal is a device which interfaces with payment cards to make electronic funds transfers.

3) Virtual terminals or gateways:-

A virtual payment terminal is a Web-based version of a credit card swipe device that allows merchants to process orders made by mail, over the phone or online.

Virtual terminals facilitate payment for small businesses that might otherwise have difficulty accepting credit card payments.