What is NOT a right of the consumer?
- A. a healthy environment
- B. be heard
- C. to be informed
- D. get value for money spent
- E. save money on food and drugs
Production means
- A. changing the form of a good at any stage from the raw material to the finished products
- B. increasing economic welfare of people by producing more goods and services
- C. moving goods from one place to another for proper use
- D. the amount of satisfaction derived from the consumption of goods and services
- E. the provision of goods and services which are capable of satisfying human wants
Production means
- A. changing the form of a good at any stage from the raw material to the finished products
- B. increasing economic welfare of people by producing more goods and services
- C. moving goods from one place to another for proper use
- D. the amount of satisfaction derived from the consumption of goods and services
- E. the provision of goods and services which are capable of satisfying human wants
National income is
- A. excess on balance of payment
- B. excess on balance of trade
- C. income gotten from international trade
- D. money value of goods and services produced in a given period
- E. revenue available to the government
Which is NOT a public corporation?
- A. National Electric Power Authority
- B. National Examinations Council
- C. Nigerian Airways
- D. Nigerian Railway
- E. Ports Authority
Which is NOT a public corporation?
- A. National Electric Power Authority
- B. National Examinations Council
- C. Nigerian Airways
- D. Nigerian Railway
- E. Ports Authority
What is the disadvantage of foreign trade?
- A. encourages dumping
- B. encourages specialization
- C. facilitate transfer of technology
- D. makes available products that can not be produced by a country
- E. widens the world market
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?
- A. annuity
- B. deterred annuity
- C. endowment
- D. term
- E. whole life
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?
- A. annuity
- B. deterred annuity
- C. endowment
- D. term
- E. whole life
What is NOT a suitable reason for the growth in large retail business?
- A. distribution of wealth through expansion of retail outlets because there is great profit
- B. improved transportation system which makes people able to move about easily to buy goods
- C. low cost per unit of goods resulting from economics of large scale
- D. people’s willingness to migrate from rural areas to towns for white collar jobs
- E. rise in standards of living of people resulting from improved wages/salaries
What is NOT a suitable reason for the growth in large retail business?
- A. distribution of wealth through expansion of retail outlets because there is great profit
- B. improved transportation system which makes people able to move about easily to buy goods
- C. low cost per unit of goods resulting from economics of large scale
- D. people’s willingness to migrate from rural areas to towns for white collar jobs
- E. rise in standards of living of people resulting from improved wages/salaries
A voluntary body formed by members of a particular branch of trade or industry to represent the interests of members is known as
- A. co-operative society
- B. industrial association
- C. manufacturers’ association
- D. trade and industry practitioners
- E. trade association
What is NOT a function of the chambers of commerce? They
- A. arbitrate and settle disputes among members
- B. collect and pass important information to all members and the general public
- C. consult and co-operate with government on matters of trade and industry
- D. make members aware of government policies concerning customs and regulations
- E. serve as media for the expression of the opinions of employers on matters relating to employment
In which service will a sole trader NOT be found?
- A. business consultant
- B. electrician
- C. decorator
- D. National Electric Power Authority
- E. surveyor
What is NOT a source of capital for a business?
- A. borrowing from somewhere
- B. issuing of dividend warrant
- C. retained profit
- D. issuing of shares
- E. personal savings
What is NOT a source of capital for a business?
- A. borrowing from somewhere
- B. issuing of dividend warrant
- C. retained profit
- D. issuing of shares
- E. personal savings
What is NOT a function of a retailer?
- A. granting credit to consumers
- B. guiding the consumers in making their choices
- C. insuring goods for consumers
- D. paying personal attention to consumers
- E. providing goods wanted by the consumers
What is NOT a function of a retailer?
- A. granting credit to consumers
- B. guiding the consumers in making their choices
- C. insuring goods for consumers
- D. paying personal attention to consumers
- E. providing goods wanted by the consumers
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
- A. inquiry
- B. order
- C. invoice
- D. quotation
- E. receipt
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
- A. inquiry
- B. order
- C. invoice
- D. quotation
- E. receipt
What is NOT an advantage of direct distribution of goods to the consumer by the manufacturer?
- A. closer contact market trends, etc.
- B. decrease in bad debts
- C. greater intensiveness of the sales campaign
- D. no trading discounts need be allowed
- E. sales are more accurately and efficiently made to the consumer