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 3051:
An arrangement by independent firms to share the market of their products on quota basics Is referred to as
Options:
A) Cartel
B) Syndicate
C) Trust
D) Integration
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The correct answer is A .
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Question 3052: A written agreement for hiring a ship for transporting goods is a?
Options:
A) consular invoice
B) bill of lading
C) charter party
D) certificate of origin
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The correct answer is C .
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Question 3053: Which oft these factors of production is relatively fixed in supply?
Options:
A) Capital
B) Enterpreneuer
C) Human resources
D) Natural resources
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The correct answer is D .
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Question 3054: The main motive of chambers of commerce and trade association is to?
Options:
A) assist governemnt in achieving its objective
B) protect the interest of consumers
C) maximize profit
D) protect and promote the interests of members
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The correct answer is D .
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Question 3055: A cheque which a bank draws on its own funds is a?
Options:
A) bankdraft
B) cashier's cheque
C) bank cheque
D) crossed cheque
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The correct answer is A .
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Question 3056: The focal point of the marketing efforts is the`
Options:
A) seller
B) profit
C) product
D) buyer
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The correct answer is D .
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Question 3057:
The Central Bank Monetary policy instrument by which it buys and sells securities is called
Options:
A) open market operation
B) bank credit
C) cash reserve ratio
D) bank rate
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The correct answer is A .
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Question 3058: The government agency involved in issuing of export licences is _______?
Options:
A) Nigeria Export Processing Zone
B) Nigeria Export Promotion council
C) Nigeria Port Authority
D) Customs and Excise Authority
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The correct answer is B .