Consumer sovereignty means that they consumer is
- A. a citizen
- B. always independent
- C. always wrong
- D. always right
chinyere agree to make a dress for Halima with September 20, 1995 as the delivery date. If the dress was not ready on that date, Halima could
- A. sue Chinyere for damages
- B. sue Chinyere for specific performance
- C. seize another gown from Chinyere's shop
- D. regard the contract between them as terminated
A disadvantage of personal selling is that it
- A. increase a company's operating cost
- B. decreases acompany's operating cost
- C. increase a company's number of customers
- D. reduces a company's area of patronage
Which of the following are forms of sales promotion?
- A. advertising, personal selling and publicity
- B. advertising, market skimming and publicity
- C. personal selling, packaging and publicity
- D. advertising, packaging and publicity
A manufacturer can make his product distinguishable from those of other competitors by
- A. providing catalogues for his wholesalers
- B. aggressive sale ppromotion
- C. branding and packaging the product
- D. selling the product at a much lower price
Taking a new product to a particular part of a country to test the reaction of consumers to the product referred to as
- A. sales promotion
- B. sampling
- C. merchandizing
- D. advertising
The breaking down of a market into separate and identifiable elements each with its own special product requirement is known as market
- A. differentiation
- B. segmentation
- C. penetration
- D. identification
The marketing approach by which a firm carries out detailed analysis of itself, the consumers and its competitors is known as?
- A. market analysis
- B. marketing mix analysis
- C. marketing opportunities analysis
- D. market survey
Which of the following is NOT a function of the stock exchange market?
- A. providing long term loans to large scale enterprises
- B. encouraging people to buy shares and thereby providing capital for investment
- C. providing means of assessing the value of a firm's assets
- D. enabling firms to wind-up quickly in times of difficulties
A bank statement is a document
- A. ordering a bank to pay on demand a stated sum of money
- B. containing records of receipts, payments and balance on an account
- C. used for paying into bank account
- D. used for regular withdrawal of money from a savings account
A major liability of a commercial bank arises from
- A. customers' deposits
- B. loans and advances
- C. overdrafts
- D. staff allowance
which of the following sets of items was used for exchange in Nigeria before money was introduced?
- A. cowries, iron rods, brass rods and copper rods
- B. iron rods, copper rods, manilla and cowries
- C. cowries, manilla, brass rod andcopper wires
- D. copper wires, brass wires, cowries and iron rod
Berne union is also known as
- A. International Credit Union
- B. International Documentry Credit
- C. International Union of Credit and Investment Insurers
- D. export Credit Guarantee Scheme
The insurance policy which provides full cover against all risks at sea is known as
- A. Policy with Particular Average
- B. Policy Free of Particular Average
- C. Marine Freight Insurance
- D. Marine Voyage Policy Insurance
The practice by which an insurance company accepts a very large risk and later shares it with other insurance companies is called
- A. subrogation
- B. contribution
- C. re-insurance
- D. indemnity
The main advantage of road transport is that it is
- A. convenient and flexible
- B. cheap and direct
- C. common and fast
- D. safe and available
Spot market goods are those which are available for
- A. immidiate delivery
- B. short-term delivery
- C. long-term delivery
- D. end of the delivery
Freight note is a document
- A. used by government to transport goods from one country to another
- B. issued by a shipping company giving details of charges
- C. used for payment for imported goods
- D. given by an importer to pay for goods at a future period
What are the factors with which commercial undertaking can be distinguish?
I Size of the undertaking
II Profits generated
III Forms of ownership
IV Location of the undertaking
- A. I and II only
- B. I andIII only
- C. II and III only
- D. III and IV only
The lake Chad Basin commission was founded to enable member states
- A. expand the volume of water in the lake for fishing activities
- B. increase navigational activities on the lake
- C. dam the lake for electricity and agricultural purposes
- D. co-ordinate their efforts in managing the use of the lake's resources
The West African clearing House became legally operational on
- A. 1st july, 1976
- B. 25th june, 1975
- C. 14th march, 1975
- D. 3rd may, 1974