2017 - JAMB Commerce Past Questions and Answers - page 5

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.

It applies the principle of democracy, whereby each member has one vote irrespective of the amount of money contributed

Deals with the transformation of raw materials into finished goods.

Is the phenomena of the physical.

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.

This is the act of storing goods produced.

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.

Is the act of conveying something. E.g. delivering goods to a customer.

This is the responsibility of an organisation to perform social benefits to the society at large.