Practice Test | Kullabs.com
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  • "Business may be defined as a human activity directed towards producing or acquiring wealth through buying and selling of goods." This definition is given by ______.

    W.F. Spriegal
    L.H. Haney
    Peterson and Plowman
    John Nash
  • The act of buying, selling and distributing of goods and services is called ______.

    commerce
    business
    industry
    trade
  • The act of buying goods from the wholesaler in a large quantity and selling them in a smaller quantity of final consumers for their personal use is called ______.

    foreign trade
    import trade
    export trade
    retail trade
  • The act of buying goods in a larger quantity and selling them in a smaller quantity to a number of retailers is called ______.

    export trade
    foreign trade
    wholesale trade
    import trade
  • Genetic industry is concerned with ______.

    taking out products from beneath the surface of the earth, soil, water and air
    reproducing or multiplication of different species of plants and animals
    converting raw materials into finished goods and constructing different assets
    conducting a construction work at a particular site
  • The act of buying goods from foreign countries and selling them to another foreign country is called ______.

    entrepot trade
    export trade
    foreign trade
    import trade
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