Join Our Telegram Channel Join Our WhatsApp Channel

More coming

(Pick Any Six)
(i) Assembling of Goods
(ii) Breaking in the Bulk
(iii) Warehousing or Storing
(iv) Transporting
(v) Grading
(vi) Financing
(vii) Risk-Bearing
(viii) Pricing
(ix) Communication of Market Information
(x) Packing Facility.

(Pick any four)
(i) Lack of Commitment and Responsibilities
(ii) Lack of Cooperation
(iii) Illiteracy
(iv) Poor Management
(v) Overdue Loans
(vi) Wrong Planning

(Pick any Six)
(i) Should have deep water.
(ii) Should have clear channel.
(iii) Should be able to supply oil, water, food, electricity and communication facilities, etc.
(iv) Should have government offices for customs control, immigration, emigration, police security, quarantine centres, etc.
(v) Should have commercial premises like warehouses, refrigerator stores, elevators.
(vi) Should have dry docks, workshops and maintenance facilities.
(vii) Cranes and fork lifts for loading and offloading should be available.
(viii) Navigable aids like buoys, should be available.
(ix) Should have facilities for dredging.
(x) Should be easily accessible (good road and rail network).
(xi) Should have a good harbor.
(xii) Should have good terminals
(xiii) Should have good rescue facilities in case of mishap.

(Pick any four)
(i) It extends and widens market for goods and services.
(ii) It encourages distribution of goods from where they are produced to where they are consumed.
(iii) It encourages specialization — as it allows the firm to concentrate on the main line of business.
(iv) It stimulates large scale production.
(v) It influences location of industries.
(vi) It helps to increase sales
(vii) It facilitates the movement of people and raw materials.
(viii) It facilitates mobile advertisement.
(ix) It creates jobs for people thereby increasing their purchasing power / standard of living.
(x) It makes available variety of goods on the market.
(xi) It promotes International trade.
(Pick any Five)
(i) It is a small-scale business.
(ii) It requires small capital outlay.
(iii) Convenient goods such as food, wears are sold.
(iv) Goods are conveyed by head, in trays, wheel-barrows and suitcases, from one place to another.
(v) Prices of goods are usually relatively low.
(vi) It involves non-expensive means of advertising.
(vii) Variety of goods are usually carried in small quantities.
(viii) It involves door-to-door selling
(ix) The intenerate trader does not pay rent.

(Pick any Five)
(i) In supermarkets, goods are displayed to encourage impulse buying, attractive display and window display.
(ii) A supermarket is usually located around residential areas and city capital centres.
(iii) A supermarket sells mostly household goods and groceries.
(iv) A supermarket has large storage facilities.
(v) A supermarket is operated on self-service, making use of few attendants.
(vi) A supermarket has large floor space.
(vii) Supermarket operators buy in bulk and sell in units.
(viii) Majority of goods sold are with price tags.
(ix) Baskets and trollies are used to convey items for purchase to the cashier for payment.
(x) Large capital is required.

(Pick any Six)
(i) Prepackaging protects the products as they move from the manufarturers to sellers and to the final users.
(ii) Since prepackaged goods are standardised, it facilitates self-service retailing and mail order business.
(iii) Branding and labelling are possible with packaged goods.
(iv) The middlemen are relieved of the burden of having to pre-package the goods.
(v) False measuring, and weighting by unscrupulous retailers are minimized where manufacturers have prepackaged the goods.
(vi) Prepackaging makes for ease of advertising.
(vii) For corrosive products, pre-packaging protects both buyers and sellers from any harm.
(viii) Prepackaging makes for ease of handling.
(ix) There is possibility of recycling the package.

(Pick any Five)
(i) Prepackaged goods are expensive and the cost is usually passed on to consumers.
(ii) Information on prepackaged goods may be deceitful to buyers.
(iii) End users of prepackaged goods often litter the environment with wrappers and empty cans.
(iv) Actual inspection of the goods is not possible unless the packaging is to be destroyed.
(v) Prepackaging compels buyers to rely on the information stated on the package

(Pick any Five)
(i) Trading: This is concerned with the activities of all those engaged in buying and selling of goods, whether as wholesalers or retailers; importers or export-ers.
(ii) Banking: This is concerned with the activities of those engaged in the provision of credit, payment and saving facilities.
(iii) Warehousing: Warehousing is concerned with the activities of those who help to store goods, pending the time they are needed.
(iv) Advertising: Advertising shows the activities of those engaged in informing potential buyers and sellers of the existence of goods and services.
(v) Insurance: This is concerned with the activities of those who undertake the risk of businesses and individuals as insurers, insurance agents and brokers.
(vi) Transportation: This is the movement of people, goods and services from place to place.
(vii) Communication: This is concerned with the transmission of messages from place to place.

(i) Countries restrict trade to protect their home/infant industries from the competition of more advanced industries abroad
(ii) To enable local industries to expand and employ indigenes.
(ii) Trade restriction, through the use of tariffs generates revenue for governments.
(iv) Countries restrict foreign trade to improve their balance of payment with other countries.
(v) Foreign trade restrictions are usually employed to preserve a country’s foreign reserves.
(vi) Countries may restrict trade as a retaliatory measure.
(vii) Trade restriction is also used to reduce the demand for specific goods.
(viii) To prevent dumping of goods from more established foreign firms.
(ix) To prevent importation of harmful goods

Share this Post: If you believe that this post may aid someone else, kindly share it by using the buttons above!

Leave a Reply

Your email address will not be published.