In law of contract, a counter offer operates as
- A. an acceptance
- B. a rejection
- C. an offer
- D. a contract
A system where customer patronage is sought by producing what they need is referred to as
- A. sales promotion
- B. product promotion
- C. market promotion
- D. market orientation
The Central Bank Monetary policy instrument by which it buys and sells securities is called
- A. open market operation
- B. bank credit
- C. cash reserve ratio
- D. bank rate
The process of buying, selling and distribution of goods and services is
- A. marketing concept
- B. marketing
- C. retail trade
- D. commerce
If a business uses part of its profit to develop the area where it operates, the business is fulfilling its
- A. marketing responsibilities
- B. managerial responsibilities
- C. economic responsibilities
- D. social responsibilities
The difference between the central bank and commercial bank is that the former
- A. serves as lender of last resort
- B. discount treasury bills
- C. saves valuable of individual
- D. give loans to the public
The four P’s of marketing are also known as
- A. marketing mix
- B. product mix
- C. promotion mix
- D. advertising mix
What is a quota?
- A. ban on all imported goods
- B. a physical restriction placed on quantity of goods that can be imported
- C. tax paid on goods produced within a country
- D. tax paid on goods produced outside a country
Why is clean bill of lading called so?
- A. it is a clear bill
- B. it shows not records of damaged goods
- C. it shows records of damaged goods
- D. it signifies no debt is owed
Another name or term for a dishonoured cheque is
- A. a bearer cheque
- B. an open cheque
- C. a bounced cheque
- D. an order cheque
The stock exchange is a market where
- A. short-term securities are sold
- B. medium term securities are sold
- C. all types of securities are sold
- D. long term securities are sold
One of these is a current asset
- A. machineries
- B. fittings
- C. stock
- D. motor vehicles
A demonstration of social responsibility by a business is the payment of
- A. interests on loans
- B. taxes to government
- C. dividends to shareholders
- D. premium on insurance
Good and services transferred from seller to buyer without immediate payment is referred to as
- A. leasing
- B. hire purchase
- C. credit sale
- D. mutual understanding
The board of directors of public enterprise is appointed by who?
- A. government
- B. management
- C. employees
- D. shareholders
The act of selling in a foreign market at a price lower than the cost price is called
- A. dumping
- B. under sale
- C. hedging
- D. fair trading
The scope commerce is limited to
- A. home and foreign trade
- B. trade and aids-to-trade
- C. wholesale and retail trade
- D. wholesale and entreport trade
Money is generally acceptable for transaction due to
- A. the central bank's governor's signature
- B. the rule of the law
- C. its acceptability in the global market
- D. the legal backing
Any activity directed at conveying commodities to buyers is an aspect of
- A. delivering
- B. advertising
- C. selling
- D. marketing
A major merit of the retaining middlemen is to
- A. regulate price for manufacturers
- B. stock perishable goods
- C. pay cash to the bank for manufacturers
- D. stock goods produced by different manufacturer
The Nigerian Stock Exchange consist of
- A. primary and secondary -tier market
- B. commercial and mortgage market
- C. secondary and primary market
- D. money and commodities market