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Questions and Answers
What is the significance of commerce in the modern business world?
What is the significance of commerce in the modern business world?
- It is only relevant for small businesses
- It has no significance
- It helps businesses reach a wider audience and increase profits (correct)
- It only benefits large corporations
What are the different modes of international trade discussed in the chapter?
What are the different modes of international trade discussed in the chapter?
- Exporting, importing, and outsourcing (correct)
- Importing, outsourcing, and offshoring
- Exporting, importing, and offshoring
- Exporting, importing, and insourcing
What are the advantages and disadvantages of a cooperative society?
What are the advantages and disadvantages of a cooperative society?
- Advantages: democratic control, disadvantages: limited capital (correct)
- Advantages: ease of formation, disadvantages: lack of continuity
- Advantages: limited liability, disadvantages: lack of autonomy
- Advantages: unlimited liability, disadvantages: lack of expertise
What is the significance of commerce in the modern business world?
What is the significance of commerce in the modern business world?
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What are the different modes of international trade discussed in the chapter?
What are the different modes of international trade discussed in the chapter?
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What are the advantages and disadvantages of a partnership as a form of business organization?
What are the advantages and disadvantages of a partnership as a form of business organization?
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