Revision and Review Test Questions Commerce SS 1 First Term Lesson Notes Week 11

Commerce SS1 First Term Lesson Note – Week 11

Subject: Commerce
Class: SS1
Term: First Term
Week: 11
Age: 14 – 16 years
Duration: 40 minutes
Topic: Revision of All Topics Covered

Part A: Review and Revision

Frequently Asked Questions (FAQs)

1. What is commerce?
   Commerce is the activity of buying and selling goods and services.
2. What are the main functions of commerce?
   The main functions include trade, transport, warehousing, and banking.
3. What is e-commerce?
   E-commerce is buying and selling goods and services over the internet.
4. What is the barter system?
   The barter system is trading goods directly for other goods without using money.
5. What are industrial occupations?
   Industrial occupations involve manufacturing and production of goods.
6. How are occupations classified?
   Occupations are classified into industrial, commercial, and service occupations.
7. What is primary production?
   Primary production involves extracting natural resources, like farming and mining.
8. What are the benefits of specialization?
   Specialization increases efficiency and productivity in production.
9. What is home trade?
   Home trade is the buying and selling of goods within a country.
10. What are the characteristics of retail trade?
    Retail trade sells goods directly to consumers in smaller quantities.
11. What is the importance of market research?
    Market research helps businesses understand consumer needs and preferences.
12. What factors affect the growth of commerce?
    Factors include technology, infrastructure, and government policies.
13. What is a mobile shop?
    A mobile shop is a small retail business that operates from a vehicle.
14. What are the types of trade?
    The main types are home trade, foreign trade, and entrepot trade.
15. How does e-commerce benefit businesses?
    E-commerce allows businesses to reach a wider audience and reduce costs.
16. What is the role of customer service in retail?
    Customer service helps build relationships with customers and encourages repeat business.
17. What challenges do small retailers face?
    Small retailers face competition, high costs, and limited resources.
18. How can retailers effectively market their products?
    Retailers can use advertising, promotions, and social media to reach customers.
19. What are aids to trade?
    Aids to trade include services like banking, insurance, and transportation.
20. Why is it important to understand consumer behavior?
    Understanding consumer behavior helps businesses tailor their products and services.

Part B: Objective Questions

Fill in the Blanks

1. Commerce involves the __________ of goods and services.
   a) production
   b) buying and selling
   c) manufacturing
   d) distribution
2. E-commerce takes place __________.
   a) in stores
   b) over the internet
   c) at markets
   d) on farms
3. The barter system involves exchanging __________ directly.
   a) money
   b) services
   c) goods
   d) information
4. Industrial occupations focus on __________ goods.
   a) selling
   b) producing
   c) advertising
   d) consuming
5. Primary production includes activities like __________.
   a) trading
   b) mining
   c) advertising
   d) retailing
6. Home trade occurs __________ a country.
   a) within
   b) outside
   c) above
   d) below
7. Retail trade sells products in __________ quantities.
   a) large
   b) medium
   c) small
   d) varying
8. Market research helps businesses understand __________ needs.
   a) customer
   b) employee
   c) investor
   d) supplier
9. A mobile shop is a __________ retail business.
   a) stationary
   b) fixed
   c) moving
   d) permanent
10. The types of trade include home trade, __________ trade, and entrepot trade.
    a) foreign
    b) local
    c) wholesale
    d) direct
11. Retailers use __________ to attract customers.
    a) promotions
    b) legal terms
    c) rules
    d) contracts
12. E-commerce can help reduce __________ for businesses.
    a) costs
    b) profits
    c) customers
    d) risks
13. Customer service is important for building __________.
    a) friendships
    b) relationships
    c) profits
    d) products
14. Small retailers often face __________ from larger stores.
    a) support
    b) cooperation
    c) competition
    d) friendship
15. Aids to trade include __________ services.
    a) entertainment
    b) transportation
    c) hospitality
    d) cooking
16. Understanding consumer behavior helps in __________ products.
    a) manufacturing
    b) pricing
    c) advertising
    d) selling
17. One characteristic of retail trade is __________.
    a) selling in bulk
    b) direct selling
    c) online selling
    d) importation
18. The primary purpose of market research is to know __________.
    a) costs
    b) customers
    c) competitors
    d) locations
19. E-commerce includes online __________.
    a) meetings
    b) sales
    c) ads
    d) surveys
20. The barter system is __________ in modern commerce.
    a) common
    b) rare
    c) easy
    d) reliable

Part C: Theory Questions

Short Answer Questions

1. Define commerce in your own words.
2. What is the main purpose of e-commerce?
3. Explain how the barter system works.
4. What are the three main types of occupations?
5. Why is primary production important?
6. Describe the role of aids to trade.
7. What are the benefits of specialization in production?
8. Explain the difference between retail and wholesale trade.
9. How can small retailers compete with larger ones?
10. What factors should be considered when conducting market research?
11. Why is customer service vital in retail businesses?
12. What challenges do mobile shops face?
13. List two types of foreign trade.
14. How does technology influence commerce today?
15. Explain the importance of understanding consumer behavior.
16. What are some characteristics of retail trade?
17. Describe one advantage and disadvantage of e-commerce.
18. How can retailers effectively reach their target market?
19. What is the significance of inventory management for retailers?
20. Explain how transportation supports commerce.

Part D: True or False Questions

1. E-commerce is only for large businesses. (True / False)
2. The barter system uses money for trade. (True / False)
3. Retail trade sells goods directly to consumers. (True / False)
4. Market research is not important for businesses. (True / False)
5. Home trade occurs between different countries. (True / False)
6. A mobile shop operates from a fixed location. (True / False)
7. Customer service can help improve sales. (True / False)
8. Primary production includes activities like fishing and farming. (True / False)
9. E-commerce is limited to local sales. (True / False)
10. Small retailers usually have less competition than larger ones. (True / False)
11. Industrial occupations focus on providing services. (True / False)
12. Transportation is an aid to trade. (True / False)
13. Specialization can increase productivity. (True / False)
14. Home trade involves both import and export. (True / False)
15. Understanding consumer behavior helps businesses meet customer needs. (True / False)
16. Retailers do not need to worry about inventory. (True / False)
17. Kiosks are a type of mobile retail shop. (True / False)
18. E-commerce is a form of online advertising. (True / False)
19. Market research helps identify trends in consumer preferences. (True / False)
20. The barter system is commonly used today. (True / False)

Part E: Fill in the Gaps Questions

1. Commerce is the activity of buying and selling __________.
2. E-commerce takes place over the __________.
3. The barter system involves __________ goods for other goods.
4. Retail trade focuses on selling directly to __________.
5. Primary production includes extracting __________ resources.
6. Home trade occurs within a __________.
7. A mobile shop operates from a __________.
8. Market research helps understand __________ needs.
9. Retailers attract customers through __________.
10. Aids to trade include services like __________.
11. Customer service is important for building __________.
12. Small retailers often compete with __________ stores.
13. Understanding consumer behavior helps in __________ products.
14. E-commerce allows businesses to reach a __________ audience.
15. Characteristics of retail trade include selling in __________ quantities.
16. The primary purpose of market research is to know __________.
17. E-commerce includes online __________.
18. The barter system is __________ in modern commerce.
19. Industrial occupations involve __________ goods.
20. Retailers use __________ to market their products.

This lesson note is designed to help students review all the key topics covered during the first term and assess their understanding through various types of questions.