Practice Test |
  • "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 ______.

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

  • 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 ______.

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

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

    entrepot trade
    export trade
    import trade
    foreign trade
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