Question 1 of 20 50 total questions
Use the diagram above to answer questions
A Ais to trade
B Advertising
C Manufacturing
D industry
Use the diagram above to answer the question
A commerce
B exchange
C finance
D construction
Goods are of merchantable quality if they?
A conform to description
B are of equal weight
C are of the same quality
D conform to buyers' purpose
Discounts offered by firms to middlemen for bulk purchases are?
A trade discounts
B sales bonanza
C cash discounts
D seasonal discount
Manufacturers' Association of Nigeria contributes to development by advising the government on?
A industrial policy and harmony
B budget and budgetary control
C budget and industrial control
D environmental protection policy
The use of vending machines in retailing is hindered in a developing economy owing to?
A poor distribution network
B low level of education
C inffective communication system
D lack os steady power supply
International trade takes place as a result of?
A uniformity in costs of production
B inequitable distribution of natural resources
C parity in the level of industrialization
D similarities in climate conditions
Organizing trade fairs in Nigeria is the responsibility of?
A National Directorate of Employment
B Federal Ministry of Commerce
C trade association
D chambers of commerce
An order sent by an importer to an overseas supplier stating the details of goods required is known as?
A export invoice
B ship's manifest
C an indent
D bill of lading
The term 4 net 7 on an invoice means that?
A 4% surcharge will be made unless payment iss made within seven days
B 4% discount will be allowed on the price charged only if the goods are bought within seven days
C 4% discount will be allowed on the price charged only if payment is made after seven days
D 4% discount will be allowed on the price charge if payment is made within seven days
An internal demand for goods to be purchased or drawn from stock is?
A a quoation
B a requisition
C a tender
D an order
Loan schemes by thrift societies are?
A mortage schemes
B conventional schemes
C mutual schemes
D unconventional schemes
Fluctuations in the supply of goods may be eliminated if the distribution system maintains?
A modern technology
B a team of retailers
C warehouse services
D sufficient middlemen
Factors of production can be described as the?
A resources required for the provision of goods and services
B skills involves in deciding and directing the flow of goods
C monetary tools employed by government to ensure stable production
D elements involved in the process of formulating policies on production
Commerce includes all the occupations concerned with?
A sales
B production
C marketing
D distribution
The acronym PLC is used to identify a?
A company limited by shares
B private company limited by shares
C public company limited by shares
D company limited by guarantee
The most important function of commerce is?
A helping people to improve thir profits
B facilitaing exchanges among indiviuals and firms
C assisting trade through banking and insurance
D enhancing business relationships
The merger of a textile mill, a cement company and a tannery is referred to as?
A conglomerate merger
B horizontal merger
C lateral merger
D vertiical merger
A written partnership contract is known as?
A an invoice
B a deed
C a prospectus
D a proposal
The strategy adopted by a firm that ceases to operate at one or more locations because of inactivity is?
A rejuvenation
B focus
C diversification
D consolidation
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