Commerce started as a result of

The process of changing raw materials into the finished goods is

An example of a primary product is

All activities geared towards the distribution and exchange of goods and services is

The word "limited" written after the name of a company means that

Which type of occupation is a carpenter engaged in?

The reward for land as a factor of production is

Which of the following businesses can raise capital through the stock exchange?

A group of people representing a common section of business interests in an area is

One of the disadvantages of selling on credit is

A number of shops under one roof is a

An organization of producers of similar products, which controls output with the intention to fix price is a

One of the functions of a trade association is to

The practice of selling goods to a foreign country at lower prices than obtainable in the exporting country is

A foreign order which instructs an agent to buy certain goods from a particular supplier is

Which of the following is not a condition for dissolution of a partnership?

A country's balance of trade of -$20 million shows that its

The collection of import duty is a function of the

An error on an invoice may be rectified by issuing

Use the information below to answer questions 20 and 21.

What is the average stock?

Use the information below to answer questions 20 and 21.

The cost of goods sold is

The expected response from the recipient of a quotation is to send

The main function of a bureau-de-change is

The right of a seller to make corrections on invoices is expressed by the term

Speed is an important factor to be considered for choice of means of transport where goods are

The practice by which insurance companies share risks with other insurance companies is

One of the functions of the port's authority is

Which of the following means of payment requires acceptance by the debtor to make it valuable?

The purpose for which the Central Bank sells securities is to

The amount a current account holder is allowed to withdraw in excess of the balance in his account is

Which of the following business risks would an insurance firm not cover for an entrepreneur?

One of the qualities of tradable goods is

Which of the following instruments of payment could be used in international trade?

Bonded warehouses are supervised by

An advertising campaign by a chicken seller designed to sell his products at the expense of a beef seller is

The main idea of the marketing concept is that all the firm's plans and operations should be

A person who is employed for the purpose of bringing his principal into contractual relationship with third parties is

The transfer of a government company to the public is

One of the roles performed by middle managers is

Which of the following is responsible for protecting consumers against poor quality goods?

The saying that the "consumer is always right" describes the doctrine of

A disadvantage of privatization is that

The act of placing goods in glass shields in front of shops to attract passersby is

The practice of making a state firm more profit-oriented is

Trade fairs and exhibitions are media of

The income generated from tourism forms part of the country's

An objective of the European Union is to

An inventor of a new machine for canning tomatoes can protect his product by

The concept of determining the objectives of a business and stating how they can be actualized is

One of the aims of ECOWAS is to