A motor dealer who agreed to sell a car to Mr X but delivered it to Mr Y on the delivery date agreed with Mr X. He has discharged the contract by
- A. performance
- B. frustration
- C. an agreement
- D. breach
An agent employed to sell goods delivered to him by the principal is referred to as a
- A. special agent
- B. del credere agent
- C. factor
- D. universal agent
A contract that is acknowledged before the law court is referred to as
- A. informal contract
- B. formal contract
- C. contract of records
- D. specialty contract
The breaking down of a market into separate and identifiable elements is known as
- A. differentiation
- B. segmentation
- C. skimming
- D. penetration
The breaking down of a market into separate and identifiable elements is known as
- A. differentiation
- B. segmentation
- C. skimming
- D. penetration
The essential utility derived from the use of a product is known as
- A. augmented benefit
- B. branded benefit
- C. core benefit
- D. formal benefit
The essential utility derived from the use of a product is known as
- A. augmented benefit
- B. branded benefit
- C. core benefit
- D. formal benefit
Which of the following is used as a pricing policy?
- A. Packaging
- B. Market selection
- C. Labelling
- D. Market skimming
Management of a business involves the development of ideas for the
- A. distribution of goods and services that human wants
- B. transportation of goods and services that human wants
- C. transfer of title of ownership of goodsand services to individuals
- D. production of goods and services that satisfy human needs
In a staff-authority relationship, the opinion of a specialist in one department to another is
- A. a directive
- B. an advice
- C. a command
- D. a delegation
In a staff-authority relationship, the opinion of a specialist in one department to another is
- A. a directive
- B. an advice
- C. a command
- D. a delegation
The most suitable organizational structure for small or medium sized enterprises is
- A. line structure
- B. staff structure
- C. committee structure
- D. functional structure
The most suitable organizational structure for small or medium sized enterprises is
- A. line structure
- B. staff structure
- C. committee structure
- D. functional structure
The initial function of a manager is
- A. setting up an organisation
- B. coordinating
- C. planning
- D. provision of welfare package
Gilt-edged securities are issued mainly by
- A. individuals
- B. non-governmental organisations
- C. Government
- D. multi-national companies
Gilt-edged securities are issued mainly by
- A. individuals
- B. non-governmental organisations
- C. Government
- D. multi-national companies
Money can be simply be referred to as a
- A. measure of value
- B. standard of value
- C. means of settlement
- D. durable asset for doing business
Which of the following is a quality of money
- A. Availability
- B. Scarcity
- C. Indivisibility
- D. Convertibility
Which of the following is a quality of money
- A. Availability
- B. Scarcity
- C. Indivisibility
- D. Convertibility
Money is generally accepted for transactions due to
- A. the legal backing
- B. the rule of law
- C. its acceptability in the global market
- D. the Central Bank Governor's signature
Money is generally accepted for transactions due to
- A. the legal backing
- B. the rule of law
- C. its acceptability in the global market
- D. the Central Bank Governor's signature