2015 Neco Commerce Answers

COMMERCE OBJ Type B:-
1-10: ECBEB6AEEBA
11-20: DEABAADDCC
21-30: AACBEDADAC
31-40: EEBCECCABE
41-50: DABAADDEBE
51-60: DDCDAEEDDE
Commerce-Type C
1-10 BECABBADAE
11-20 DEDBBEEBCA
21-30 DDACBBEEAA
31-40 ACACAEDEED
41-50 EBDADBEDBB
51-60 EDCDDBEDBD
=============================
Commerce-Answers!
1)
i).prospectus:A prospectus is any
circular,note,newspaper advertisement or
other invitation offering to the public for
subscription or purchase of any share or
debentures of company.it is usually
published with application form.share are
allotted to those who apply
ii).by offer for sale:the whole issue of shares
is allotted to an issuing house (merchant
bank,financial house) which offer them to
the public by means of offer-for-sale
iii).by a right-issue:a newly established
company may issue further capital by
offering the shares concerned to existing
members at favourable terms.
iv).by placing:a method of issuing securities
through an intermediary such as a firm of
stock brokers.the intermediary endeavours
to place the issue among institutional
investors
v).by introduction through
the stock exchange whereby
new issue of shares are made
to the public by the company
6)
i).problem of distance:international trade
involves two or more countries that are far
from one another
ii).problem of transport and
communication:problem arises when
transport and communication are not
efficient as what happens in west Africa
iii).currency differences:before a country
buys anything from another country she
must change her currency to the other
country’s currency because,every country
has its own currency.
iv).language problem:two countries that
speak and understand the same language
can trade more easily than the other way
round.
v).cultural problem:certain
aspects of people’s culture
constitute a stumbling block
to international trade
7a)
-coins
-paper money
-bank money
-foreign money
-legal money
7b)
i).general acceptability:it must be acceptable
to the people of that country community or
a certain territory
ii).absolute homogeneity:the article used as
money must be the same in all parts of the
country where it is being accepted as a
medium of exchange.
iii).recognizability:it is the quality makes
people to detect which the real and
counterfeit money
iv).divisibility:it must be capable f being
divided into smaller units which facilitate
exchange of goods and services
v).portability:money must be
something that can be easily
carried about from one place
to another
3a)
– To ensure the most effective &
beneficial use of water and resources of
river niger
– To examine the plans of member
countries
– To collect evaluate & disseminate data
on the basin.
– To recommend the government of
member countries plans for the
judicious use of niger basin
– To draw up general regulation in relation
to the act of namey.
3b)
– It supplies sources of income for
farmers
– It produce good for human
satisfaction
– It complete the process of production
through branding , labelling & packaging
– it tears part of production and
distributions roles
– It has access to bulk & large quantity
of raw material with gain of.
Average cost.
4a)
Consumer protection is a group of
laws and organizations designed to ensure
the rights of consumers as well as fair
trade,competition and accurate information
in the
marketplace. The laws are designed to
prevent businesses that engage in fraud
or specified unfair practices from gaining an
advantage over competitors.
4b)
-Providing speedy redress to consumers
complaints through negotiation,
mediation and conciliation.
-Publishing from time to time list of
products whose consumption and sale have
been banned, withdrawn,
severally restricted or not approved by the
Federal Government
-Causing an offending company, firm,
trade association or individual to
protect, compensate, provide relief and
safeguards to injured consumers or
communities from adverse effects of
technologies that are inherently harmful,
injurious, violent or highly
hazardous
-Organising and undertaking
campaigns and other forms of activities
that will lead to increased public
consumer awareness;
-Encouraging trade, industry and
professional associations to develop
and enforce in their various fields,
quality standards designed to
safeguard the interest of consumers;
-Issuing guidelines to manufacturers,
importers, dealers and wholesalers in
relation to their obligation under the CPC
enabling law
-Encouraging the formation of
voluntary consumer groups or
associations for consumers’ well being
-Ensuring that consumers’ interest
receive due consideration at
appropriate fora and providing redress
to obnoxious practices or the
unscrupulous exploitation of consumers
by companies, firms, trade associations or
individuals
-Registering and monitoring products,
services and sales promotions in the
market place.
5a)
Discount; are reductions
to a basic price of goods or services.
They can occur anywhere in the
distribution
channel, modifying either the
manufacturer’s list price (determined by the
manufacturer and often printed on the
package), the retail price (set by the retailer
and often attached to the product with a
sticker), or the list price (which is
quoted to a potential buyer, usually in
written form).
5b)
i).Quantity discount – offered to customers
who purchase in large
quantities.
ii). Cumulative quantity
discount – a discount
that increases as the
cumulative quantity
increases. Cumulative
discounts may be offered to resellers
who purchase large
quantities over time
but who do not wish to
place large individual
orders.
iii). Seasonal discount –
based on the time that
the purchase is made
and designed to
reduce seasonal
variation in sales. For example, the travel
industry offers much
lower off-season rates.
Such discounts do not
have to be based on
time of the year; they also can be based on
day of the week or
time of the day, such
as pricing offered by
long distance and
wireless service providers.
iv). Cash discount –
extended to customers
who pay their bill
before a specified
date.
8)
-SUPPLY AND DEMAND CONSIDERATION:
this is the policy that consider the rate and
relationship btw the demand and
supply of a particular comodity before
fixing a price
-PROMOTION: another policy of pricing
is an intention and target of promoting
sales of particular comodity
-MARKET PENETRATION: another
pursing mission and policy of pricing is to
penetrate into marketer especially new
comodity at a particular place
-PRICING WITH MARKET: this is also
done in consideration of the market
price of comodity
-TARGET RATE OF RETURN ON
INVESTMENT: company may
have a target of return
therefore set up a price to
meet the target.
9)
– SKILLS AND TRAINING: this acquired by an
individual determines his/her choice of
occupation
-NATURAL RESOURCES ENDOWNMENT:
the natural resources that can found in
particular place determine the choice of
occupation to be popular in that area
-CLIMATIC DIFFERENCE: change in
weather condition can also bring a
choice of an occupation to an individual
-APTITUDES AND SPECIAL INTEREST:
creative interest of an individual in a
particular job can determine its choice
-PROFITABILITY: having discorvered
that a particular occupation is profitable
and lucrative, if affect the choice of
individual of choosing d kind of job.

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