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Achanging the form of a good at any stage from the raw material to the finished products
Bincreasing economic welfare of people by producing more goods and services
Cmoving goods from one place to another for proper use
Dthe amount of satisfaction derived from the consumption of goods and services
Ethe provision of goods and services which are capable of satisfying human wants
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Question 1453
neco2001
National income is
Aexcess on balance of payment
Bexcess on balance of trade
Cincome gotten from international trade
Dmoney value of goods and services produced in a given period
Erevenue available to the government
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Question 1454
neco2001
Which is NOT a public corporation?
ANational Electric Power Authority
BNational Examinations Council
CNigerian Airways
DNigerian Railway
EPorts Authority
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Question 1455
neco2001
What is the disadvantage of foreign trade?
Aencourages dumping
Bencourages specialization
Cfacilitate transfer of technology
Dmakes available products that can not be produced by a country
Ewidens the world market
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Question 1456
neco2001
Under what form of life insurance policy is premium paid over an agreed number of years and the sum assured is paid either at the end of that specified time or when the policy holder dies, whichever comes first?
Aannuity
Bdeterred annuity
Cendowment
Dterm
Ewhole life
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Question 1457
neco2001
What is NOT a suitable reason for the growth in large retail business?
Adistribution of wealth through expansion of retail outlets because there is great profit
Bimproved transportation system which makes people able to move about easily to buy goods
Clow cost per unit of goods resulting from economics of large scale
Dpeople’s willingness to migrate from rural areas to towns for white collar jobs
Erise in standards of living of people resulting from improved wages/salaries
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Question 1458
neco2001
A voluntary body formed by members of a particular branch of trade or industry to represent the interests of members is known as
Aco-operative society
Bindustrial association
Cmanufacturers’ association
Dtrade and industry practitioners
Etrade association
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Question 1459
neco2001
What is NOT a function of the chambers of commerce? They
Aarbitrate and settle disputes among members
Bcollect and pass important information to all members and the general public
Cconsult and co-operate with government on matters of trade and industry
Dmake members aware of government policies concerning customs and regulations
Eserve as media for the expression of the opinions of employers on matters relating to employment
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Question 1460
neco2001
In which service will a sole trader NOT be found?
Abusiness consultant
Belectrician
Cdecorator
DNational Electric Power Authority
Esurveyor
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Question 1461
neco2001
What is NOT a source of capital for a business?
Aborrowing from somewhere
Bissuing of dividend warrant
Cretained profit
Dissuing of shares
Epersonal savings
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Question 1462
neco2001
What is NOT a function of a retailer?
Agranting credit to consumers
Bguiding the consumers in making their choices
Cinsuring goods for consumers
Dpaying personal attention to consumers
Eproviding goods wanted by the consumers
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Question 1463
neco2001
A document which makes it obligatory on the part of the seller to supply the goods or services if the inquirer accepts the conditions stated therein is called Alan
Ainquiry
Border
Cinvoice
Dquotation
Ereceipt
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Question 1464
neco2001
What is NOT an advantage of direct distribution of goods to the consumer by the manufacturer?
Acloser contact market trends, etc.
Bdecrease in bad debts
Cgreater intensiveness of the sales campaign
Dno trading discounts need be allowed
Esales are more accurately and efficiently made to the consumer
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Question 1465
neco2001
What is NOT the function of an entrepreneur?
Abearing risks
Bdeciding on tax to pay
Cdeciding what to produce
Dorganizing other factors
Eproviding initial capital
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Question 1466
neco2001
The word ‘Commerce’ means
Abuying and selling of goods and services
Bexchange and distribution of goods and services
Clife-blood of every nation
Dproduction of utilities
Etrade and all the services which assist trade
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Question 1467
neco2001
The Articles of Association of a company do NOT contain
Aa method of dealing with any alterations in the amount of capital
Ba method of sharing profits and the payment of dividends
Ca procedure for calling general meeting/method of voting
Dthe amount of the authorized capital, showing its division into shares
Ethe issue, transfer and forfeiture of shares
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Question 1468
neco2001
The feature of a supermarket is
Ahaving central control from head-office
Bsales common household goods
Csales of goods without owning shops
Dsimilarity in shops’ frontages
Ethat there are many shops under a roof
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Question 1469
neco2001
The bringing of ownership and management of a former private industry under the control of the government is called
Acorporation
Bindustrialization
Cnationalization
Dparticipation
Eprivatization
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Question 1470
waec2001
Which of the following is a means of payment to persons abroad through the post office?
