The ancillary to trade which ensures that people gain access to facts pertaining to goods is
- A. insurance
- B. advertising
- C. warehousing
- D. banking
Which of the following was not used as a medium of exchange by the early Europeans that came to West Africa?
- A. Pounds and shillings
- B. Copper manillas
- C. Iron bars
- D. Cowries
A practice where producers of the same product come together to advertise is known as
- A. mass advertising
- B. institutional advertising
- C. direct advertising
- D. persuasive advertising
Which of the following is not a feature of a sole trader
- A. quick decision making
- B. Guaranteed profits
- C. Unlimited liability
- D. Bearing losses alone
Which of the following is not a feature of a sole trader
- A. quick decision making
- B. Guaranteed profits
- C. Unlimited liability
- D. Bearing losses alone
The difference between the cost of goods sold and the sales value is known as
- A. net profit
- B. net loss
- C. gross profit or loss
- D. surplus
The difference between the cost of goods sold and the sales value is known as
- A. net profit
- B. net loss
- C. gross profit or loss
- D. surplus
Which of the following arranges for the conveyance of goods abroad
- A. Ports Authority
- B. Customs and Excise Authority
- C. Airports Authority
- D. Export Promotion Council
Which of the following arranges for the conveyance of goods abroad
- A. Ports Authority
- B. Customs and Excise Authority
- C. Airports Authority
- D. Export Promotion Council
Which of the following retail outlets is described as selling without shops
- A. Multiple stoes
- B. Supermarket
- C. Mail order business
- D. Department stores
Which of the following retail outlets is described as selling without shops
- A. Multiple stoes
- B. Supermarket
- C. Mail order business
- D. Department stores
Commercial banks usually settle their interbank indebtedness through the
- A. money market
- B. clearing house
- C. discount house
- D. stock exchange
The term “utmost good faith” in insurance requires that the insured must
- A. make profit from any loss suffered
- B. receive his compensation fully in the event of loss
- C. disclose all relevant facts on what is being insured
- D. pay his premium regularly
The term “utmost good faith” in insurance requires that the insured must
- A. make profit from any loss suffered
- B. receive his compensation fully in the event of loss
- C. disclose all relevant facts on what is being insured
- D. pay his premium regularly
Which of the following is the main purpose of a third party insurance? To
- A. indemnify an injured outsider
- B. indemnify the insured
- C. protect the vehicle against theft
- D. compensate the driver for injuries sustained
The reduction in the value of a country’s currency in relation to other country’s currencies is
- A. devaluation
- B. inflation
- C. deregulation
- D. fluctuation
The reduction in the value of a country’s currency in relation to other country’s currencies is
- A. devaluation
- B. inflation
- C. deregulation
- D. fluctuation
Any activity aimed at finding out the wants of consumers and supplying them at a profit is referred to as?
- A. promotion
- B. marketing
- C. segmentation
- D. penetration
Which of the following is not reason for nationalization
- A. Encouraging foreign investors
- B. Reducing the remittance of profits abroad
- C. Training local enterpreneus
- D. Controlling the country's key industries
The process of putting goods in attractive packets to arouse the interest of customers is
- A. collation
- B. wrapping
- C. branding
- D. packaging
The process of putting goods in attractive packets to arouse the interest of customers is
- A. collation
- B. wrapping
- C. branding
- D. packaging