1999 - JAMB Commerce Past Questions and Answers - page 4

31
A wholesaler dealer in securities is known as a
A
stockborker
B
speculator
C
jobber
D
stag
correct option: c
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32
Modern business philosophy emphasizes
A
quality products
B
customer satisfaction
C
sales volume
D
public relations
correct option: b
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33
The main role of advertising is to
A
convince prospective buyers to buy
B
show the actual shape, form and colour of the products
C
inform people where to obtain goods and services
D
captured the attention of people
correct option: a
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34
The concept of limiting types, sizes and other characteristics of a product line without sacrificing utility or durability is called
A
simplification
B
standardization
C
specialization
D
satisficing
correct option: b
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35
The focal point of the marketing efforts is the`
A
seller
B
profit
C
product
D
buyer
correct option: d
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36
Adigun displays goods of different makes on shelves in his supermarket. This is an example of
A
invitation to treat
B
offer to sell
C
offer to purchase
D
invitation to sell
correct option: a
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37
The process of bringing a company under exclusive state ownership and control is know as
A
nationalization
B
commercialization
C
indigenization
D
privatization
correct option: a
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38
Q,act as an agent of P, lawfully and reasonably incur the amount of N350 as expenses.If Q comes to P, for payment , this is an instance of P'S duty to
A
remunerate Q
B
reply Q
C
indemnify Q
D
settle Q
correct option: c
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39
In a hire purchase agreement between Argungu Ltd and Maikudi, Argungu Ltd inserted provision that it can enter Maikudi’s premises at any time and remove the hired vehicle for any breach. This provision is
A
lawful to both
B
unlawful to both
C
beneficial to both
D
detrimental to both
correct option: a
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40
In every simple contract, the price which is paid to purchase a promise is called
A
offeree
B
acceptance
C
consideration
D
representation
correct option: c
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