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Manufacturers may sell goods directly to consumers where goods are

I. made to customers' specification.
II. advertised by the manufacturer.
lll. perishable.
IV highly technical.
V. widely demanded.

A. I, lll and IV only.    B. I and lll only.    C. ll, IV and V only.    D. lll, IV only.

Encouraging a high quality of members' products through the circulation of Research information is a function of

A. Manufacturers Association.
B. Trade Union.
C. Employers’' Association.
D. Consumers' Association.

Shipping services rendered by Nigeria to The Gambia would be classified by The Gambia as

A. invisible imports.   B. invisible exports    C. visible imports.   D. visible exports.

In marine insurance when a particular cargo is thrown into the sea in order to prevent the ship from sinking, the type of marine loss is.

A. particular average loss.
B. general average loss.
C. total average loss.
D. constructive average loss.

Which of the following is the function of commerce?

A. The conversion of raw materials into semi finished products
B. The conversion of semi—finished products into end products
C. Provision of services to customers
D. The exchange and distribution of goods and services.

Banks settle their indebtedness in the

A. discount house.    B. stock exchange market.    C. commercial bank.   D. clearing house.

Who among the following does not render direct service?

A. Teacher    B. Musician    C. Doctor    D. Retailer

An insurance policy that covers the body of the ship only is called

A. Haulage insurance    B. Voyage insurance    C. Hull insurance    D. Cargo insurance

Right issue is the

A. individual’s right to be issued shares on subscription.
B. right of shareholders to vote on issue.
C. Preferential right to return on shares.
D. Shares offered to existing shareholders at a cheaper price.
An activity involving buying, selling and distribution of goods and services is known as

A. trade.    B. marketing mix.    C. exchange.    D. commerce.

A cheque dated 15th March, 2012 will become stale on

A. 16th June, 2012    B. 16th July, 2012.    C. 16th August, 2012.    D. 16th September, 2012.

What is the rate of turnover?

A. 13.5 times.    B. 10.8 times.    C. 9 times.    D. 5.4 times.

The money used by Ola Maro and Co. Ltd. in running the day—today activities of the business is represented by

A. fixed capital    B. capital employed    C. paid-up capital    D. working capital


The box marked 'Z' stands for

A. Warehousing.
B. Home trade.
C. Foreign trade.
D. Marketing.

Which of the following is not a function of warehousing?

A. Creating scarcity of goods
B. stabilization of price
C. Production ahead of demand
D. Storage of goods.

Ad valorem duties are based on the

A. importance of the goods imported
B. value of the goods imported
C. weight of the goods imported
D. nature of the goods imported.

The concept which says that a company’s production policy should be centered on the ultimate user of the product is known as

A. market segmentation
B. consumer sovereignty
C. marketing mix
D. marketing research

A term which describes the value of business connections made by a company over the years is known as

A. patent    B. copyright    C. goodwill    D. trade mark

The last link in the production process is the

A. transporter    B. wholesaler    C. consumer    D. retailer.

Mr Biu has been paying the premium of a straight Life Assurance policy for several years. The surrender value of the policy if the amount that

A. would be paid to Mr. Biu if he should discontinue with the policy.
B. would be paid to Mr. Biu’s beneficiaries if he dies
C. is paid annually to Mr. Biu to the insurance company
D. the amount Mr Biu has paid plus interest

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