2017 - JAMB Commerce Past Questions and Answers - page 5
41
The scope of commerce is limited to ________
A
wholesale and entrepot trade
B
trade and aids-to-trade
C
wholesale and retail trade
D
home and foreign trade
correct option: b
Users' Answers & Comments42
Which of the following is an item in the marketing mix?
A
Demand
B
promotion
C
market
D
consumer
correct option: b
Marketing can be defined as the controlling of variables that a firm makes use of in its policies in order to influence the buyer's choice and boost sales. The 4ps are Product, Price, Place and Promotion.
This is aimed at bringing the existed goods or products to the knowledge of those it is meant for. It is aimed at stipulating demand and increasing sales.
Users' Answers & CommentsThis is aimed at bringing the existed goods or products to the knowledge of those it is meant for. It is aimed at stipulating demand and increasing sales.
43
The business unit that applies the principle of one man, one vote is ______
A
sole proprietorship
B
partnership
C
public company
D
co-operative society
correct option: d
It applies the principle of democracy, whereby each member has one vote irrespective of the amount of money contributed
Users' Answers & Comments44
The type of activity which turns processed raw materials into consumer and industrial goods is described as ________
A
extractive
B
manufacturing
C
constructive
D
processing
correct option: b
Deals with the transformation of raw materials into finished goods.
Users' Answers & Comments45
Land as a factor of production does not vary in _______
A
quantity
B
nature
C
quality
D
cost
46
The effects of devaluation includes all except _______
A
exports become cheaper
B
expansion of local industries
C
increase in standard of living
D
increase in import
correct option: d
Devaluation is the reduction of the value of a country's currency in terms if the value of the currencies of other nations of the world.
There will be a decrease in inputs as citizens will be spending more in buying goods from other countries.
Users' Answers & CommentsThere will be a decrease in inputs as citizens will be spending more in buying goods from other countries.
47
The production of goods and services in anticipation of demand is made possible by _______
A
packaging
B
warehousing
C
branding
D
advertising
48
Factors considered when setting up a retail business is one of the following _________
A
capital, experience and trading
B
experience, term of trade, and trading
C
capital, trading and term of trade
D
capital, type of goods and source of supply
correct option: d
Capital is one of the major factor that determines the form and size of a business and must be considered when starting a retail business.
Source of supply has to do with where and how to get the goods to be sold, either from the wholesaler or manufacturer.
Types of goods determines what the product is.
Users' Answers & CommentsSource of supply has to do with where and how to get the goods to be sold, either from the wholesaler or manufacturer.
Types of goods determines what the product is.
49
Any activity directed at conveying commodities to buyers is an aspect _________
A
selling
B
delivering
C
advertising
D
marketing
correct option: b
Is the act of conveying something. E.g. delivering goods to a customer.
Users' Answers & Comments50
If a business uses part of its profit to develop the area where it operates, the business is fulfilling its ______
A
economic responsibilities
B
marketing responsibilities
C
social responsibilities
D
managerial responsibilities
correct option: c
This is the responsibility of an organisation to perform social benefits to the society at large.
Users' Answers & Comments