Commerce is a structured system for exchanging goods between buyers and sellers. It involves studying the processes and activities related to buying and selling goods and services, particularly on a large scale.
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Question 131: What is the most important use of promotion in marketing?
Options:
A) Persuasion
B) Conviction
C) Information
D) Education
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The correct answer is C .
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Question 132: Which of the following is a limitation of division of labour?
Options:
A) Decline in craftmanship
B) Monotony of work
C) Reduction in output
D) Reduction in labour force
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The correct answer is D .
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Question 133: The three components of staffing are?
Options:
A) recruitment, interview and appointment
B) recruitment, test and placement
C) recruitment, selection and appointment
D) recruitment, selection and placement
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The correct answer is D .
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Question 134: An agency contract must involve?
Options:
A) a principal and a consumer
B) a principal and a producer
C) a principal and a third party
D) a principal and an agent
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The correct answer is D .
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Question 135: The right to retain possession of goods until the contract price is paid is referred to as
Options:
A) a promise
B) ultra vires
C) a breach
D) a lien
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The correct answer is D .
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Question 136: A distinction between Comprehensive insurance and Thrid party Insurance is that the latter covers damages
Options:
A) caused by the insured vehicle
B) to the insured vehicle
C) cause by the other vehicle
D) to the driver of insured vehicle
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The correct answer is A .
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Question 137:
Departmentalization is an aspect of
Options:
A) directing
B) organizing
C) planning
D) controlling
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The correct answer is B .
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Question 138: Assurance is different from insurance in that the former is based on
Options:
A) probability
B) possibility
C) risk
D) uncertainty
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The correct answer is B .
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Question 139: If Mr. Bacus fulfills his promise, he will be entitled to a cash discount of?
Options:
A) N2,760
B) N3,000
C) 6,500
D) 9,500
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The correct answer is B .
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Question 140:
A person engaged for the purpose of bringing his principal and a third party into a contractual relation is
Options:
A) an arbiter
B) an auctioneer
C) an agent
D) a middlemen
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The correct answer is C .