Real/sure 2016/2017 waec gce full commerce objective / theory questions and answers is Available Here!

Commerce OBJ

(i) No payment of rent
(ii) It is Door to Door service
(iii) Small capital is involve to set up
(iv) Consumable goods are sold majorly

-Land is a free gift of nature and also a place where every other factors of productions take place.
-labour is both mental and physical input on the factors of production
-capital is the amount invested in the factor of production
-enterpreneur is the person responsible to supervise all other factors of production

-There is perpetual erxistence or
continuity.Death of a member cannot bring the
organisation to an end
-It is registered as a limited liability.Members
liability is limited to the shares held
-It is democratic in nature
-Profit is shared based on patronage
(ii) Mail order business
-It is shopping by post
-It is perculiar with cash on delivery transactions
and cash with order terms of payment
-Goods are delivered at the buyer’s destination
-Packages are usually to customer’s tastes

-By expiration of agreement:where theb
patnership is entered into for afixed period of
time,it is assumed dissolved at the expiration of
the fixed date

-Bankrupty of a patner:Patnership will be
dissolved when one of the patners is bankrupt

-Insolvency of the business:when the business
cannot meet its obligations

-Deathof as patner:The death of a patner will
bring the business to anend

-Insanity of a patner:If one of the patners
become insane the remaining patners can apply
to to the court for dissolution

-Settlement of Debt
-medium of exchange
-unit of account
-store of value.

-It is saver to carry cheque than cash
-It is easy for drawer to stop payment so as to prevent fraud
-Cheque can serve as a receipt and a proof of payment
-It is more convenient to carry chque about than cash
-cheque help to economise in the use of currency notes and coins
-Cheque counterfoil slip can be used by drawer for proper payment and receipt

Market segmentation is a process of the total heterogenous market for a product into several sub marked or segments each of which tends to be homogeneous in all important aspects.
(i) Risk bearing: Marketing anticipates risk inherent in business and tries to minimize the risk and ensure adequate protection by taking the necessary insurance cover.
(ii) Storage of goods: It helps in storage and warehousing of goods until they are demanded in order to ensure regular and constant supply.
(iii) Prices: Marketing assists the organizations to fix reasonable price for their products that would ensure enough profit.
(iv) Packaging: This involves designing and producing the container or wrapper for the product so as to protect it during distribution.
(v) Transportation of goods: It ensures that raw materials, finished goods and services are transferred to places where they are needed.
(vi) Standardization and grading: A major function of marketing is to ensure that products conform to the required standard and qualify in terms of taste and durability.

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