Tag: organisation of commerce and management

Questions Related to organisation of commerce and management

Latin America exports ______.

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

  1. Foodstuff

  2. Machinery

  3. Automobiles

  4. Minerals

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Correct Option: A
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

Which region mainly imports industrial raw materials?

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

  1. North America

  2. Africa

  3. Europe

  4. Australia

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Correct Option: C
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.
Choose the correct word.
Primitive method of trade was known as ___________ system.
organisation of commerce and management trade trade and factors affecting trade trading and economic organisations trade and trade organisations

  1. Value

  2. Barter

  3. Traditional

  4. Money

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Correct Option: B
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.

Which of the following documents are required for international tourism?

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

  1. Passport

  2. Visa

  3. Travel insurance

  4. All of above

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Correct Option: D
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.

Which one of the following has been recently added to the list of exports items in India?

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

  1. Rubber

  2. Sugar

  3. Coffee

  4. Rice

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Correct Option: A

What is e-commerce?

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

  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

Show answer
Correct Option: B
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.

What is e-commerce?

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

  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

Show answer
Correct Option: B
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).

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

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

  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

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Correct Option: D

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

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

  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

Show answer
Correct Option: A
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.

___________ is a used for online transactions.

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

  1. Physical terminal transaction systems

  2. Software terminal transaction systems

  3. Virtual terminals or gateways

  4. All of the above

Show answer
Correct Option: D
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.