Tag: history of commerce in india

Questions Related to history of commerce in india

Which of the following factors causes the barter system to be inefficient?

  1. The cost associated with information search is too low.

  2. Its cost of transaction is too low.

  3. It requires a double coincidence of wants.

  4. It requires high liquidity.


Correct Option: C

If a farm has an abundance of corn but no pigs, and a neighboring farm has no corn, but too many pigs, the two farms might come to an agreement that would benefit both through bartering.

  1. True

  2. False


Correct Option: A

Hindrance of _____ refers to the problem of distribution of goods at distant places without loss.

  1. skill

  2. person

  3. time

  4. place


Correct Option: D

____ hindrance is solved by warehousing or storage.

  1. Hindrance of person

  2. Hindrance of time

  3. Hindrance of ability

  4. Hindrance of place


Correct Option: B

_______ is the sum total of all those processes which are engaged in the removal of hindrance of person, place or time

  1. Commerce

  2. Industry

  3. Business

  4. Retail


Correct Option: A

The hindrance of ____ is removed by trade thereby making goods available to the consumers from the producers.

  1. place

  2. persons

  3. time

  4. knowledge


Correct Option: B

In industrial production skills of ancient Indian in which of the following have attracted world-wide celebrity?

  1. Production of delicate woven fabrics

  2. Mixing of colours

  3. Working of metals and precious stones

  4. All of the above


Correct Option: D

______ eliminates the barriers of persons for the smooth flow of goods from producer to consumer.

  1. Advertising

  2. Warehousing

  3. Trade

  4. Insurance


Correct Option: C
Explanation:

Trade is a basic economic concept involving the buying and selling of goods and services, with compensation paid by a buyer to a seller, or the exchange of goods or services between parties.

HMRC considers that your company or organisation has not yet become active or started trading if it has not yet engaged in any business activity (business activity means carrying on a trade or profession, or buying and selling goods or services with a view to making a profit or surplus).

_______ removes the hindrance of finance and facilitate the exchange.

  1. Banking

  2. Trade

  3. Insurance

  4. Transport


Correct Option: A
Explanation:

A financial institution that is licensed to deal with money and its substitutes by accepting time and demand deposits, making loans, and investing in securities. The bank generates profits from the difference in the interest rates charged and paid.

The network of institutions and laws that provide a great variety of financial services. At its most basic, banking involves an institution holding money on behalf of customers that is payable to the customer on demand, either by appearing at the bank for a withdrawal or by writing a check to a third party.