43
Which of the following countries are members of the lake Chad Basin Commission?
- A. Niger and Cameroun
- B. Benin and Nigeria
- C. Chad and Benin
- D. Nigeria and Mali
44
Okeze contracted to sell TV sets to Ojo. Unknown to them, the sets were stolen in transit. This contract may be terminated on the ground of
- A. bankruptcy
- B. frustration
- C. fraudulence
- D. breach of contract
45
The agency that currently oversees the privatization and
commercialization process in Nigeria is the?
- A. Securities and Exchange Commission
- B. Technical Committee on privatization and commercialization
- C. Nigeria Stock Exchange
- D. Bureau of Republic Enterprises
46
Capital as a factor of production can be used as?
- A. Money that is regarded as assets
- B. Goods that are useful in business
- C. Input for further production
- D. Services that provide satisfaction
47
Which of the following best described the scope of commerce
- A. All forms of commercial exchanges relating to industry
- B. Buying and selling and the construction industry
- C. All occupational exchanges relating to industries and commercial activities
- D. Buying and selling as well as the extraction of natural resources
48
The major responsibility of an entrepreneur is?
- A. Employing all factors of production in the business
- B. coordinating and determining the proportion of what to produce
- C. planning and organizing all activities in the business
- D. directing and controlling all the affairs of the business
49
Secondary production has to do with changing the?
- A. shape of raw materials through construction operations
- B. physical form of raw materials into finished goods
- C. utility of raw materials by an engineering process
- D. nature of raw materials through manufacturing processes
50
The most important factor that delayed the development of commerce in Nigeria was?
- A. A.the inefficient means of communication
- B. that there were few entrepreneurs
- C. that there were few developed markets
- D. secondary production has to do with changing the?