JAMB UTME - Commerce - 2022

A specially-designed mode of transport for conveying liquid and gas is a

Détails de la réponse

A specially-designed mode of transport for conveying liquid and gas is a "tanker". A tanker is a type of ship or vehicle designed to carry large quantities of liquid or gas cargo, such as oil, natural gas, or chemicals. Tankers are designed to safely transport their cargo, which is often hazardous or flammable, over long distances across the sea or land. Tankers are designed with special features to prevent leakage or spillage of their cargo. For example, oil tankers have double hulls to prevent oil spills in the event of an accident or collision. Tankers also have special pumps and pipelines for loading and unloading their cargo. In summary, a "tanker" is a type of specialized transport designed to safely transport large quantities of liquid and gas cargo, such as oil and natural gas, over long distances.

The quality of money which makes it possible to buy goods in small quantities is

Détails de la réponse

The quality of money that makes it possible to buy goods in small quantities is divisibility. Divisibility means the ability of money to be divided into smaller units. This is important because it allows people to buy goods that cost less than one unit of money. For example, if a candy bar costs 50 cents and you only have a one dollar bill, you can divide that dollar into smaller units (quarters, in this case) to pay for the candy bar. If money was not divisible, you would have to pay for the candy bar with a one dollar bill, even if you only wanted to buy 50 cents worth of goods.

The type of occupation that a broker belongs to is

Détails de la réponse

A broker belongs to the commercial occupation. A broker is a professional who acts as an intermediary between buyers and sellers to facilitate transactions. They may specialize in a specific type of product or service, such as real estate, insurance, or financial products. Brokers typically earn a commission for their services, which may include negotiating deals, finding buyers or sellers, and facilitating the transfer of ownership or payment. The commercial occupation involves buying, selling, and exchanging goods and services. This can encompass a wide range of activities, including retail sales, wholesale trade, and import/export businesses. A broker is considered to be part of the commercial sector because they are involved in facilitating transactions between buyers and sellers.

Which of the following is not a characteristic of a commercial bank?

Détails de la réponse

The characteristic of a commercial bank that is not correct is "Established to issue bank notes." A commercial bank is a financial institution that is established as a limited liability company, which means that the owners or shareholders are not personally responsible for the bank's debts or losses. It is usually established by individuals or organizations to provide a range of financial services such as accepting deposits, granting loans, and offering various investment products. One of the primary objectives of a commercial bank is to make a profit through the various services it provides. However, commercial banks do not have the authority to issue bank notes. The authority to issue bank notes is given to the central bank of a country, which is responsible for regulating the country's money supply and ensuring the stability of the financial system. Therefore, the correct option is "Established to issue bank notes."

A person engaged for the purpose of bringing his principal and a third party into a contractual relation is

Détails de la réponse

A person engaged for the purpose of bringing his principal and a third party into a contractual relation is an "agent." An agent is a person who is authorized to act on behalf of another person or entity, known as the principal. The agent's role is to negotiate and enter into contracts with third parties on behalf of the principal, while representing the interests of the principal. In other words, an agent acts as a middleman between the principal and a third party. The agent has a fiduciary duty to act in the best interests of the principal, which means that they must act honestly and with reasonable care and skill. Examples of agents include real estate agents, who act on behalf of property owners to sell or lease their property to interested buyers or tenants. Another example is a travel agent, who acts on behalf of travelers to book flights, hotels, and other travel services. In contrast, an arbiter is a person who is appointed to settle disputes between parties, such as a mediator or an arbitrator. An auctioneer is a person who conducts auctions and facilitates the sale of goods or services to the highest bidder. A middleman is a general term that refers to a person or business that acts as an intermediary between two parties in a transaction.

A document that instructs an agent to buy goods from a named firm is

Détails de la réponse

Which of the following activities is not an example of the extractive industry?

Détails de la réponse

Weaving is not an example of the extractive industry. The extractive industry involves activities that extract natural resources from the earth, such as mining, drilling for oil, gas and water, and quarrying for stone, sand and gravel. The purpose of these activities is to extract raw materials that are then used to produce finished goods. Hunting and fishing can also be considered extractive industries because they involve the extraction of natural resources from the environment. Hunting involves the extraction of wild animals for food, fur, and other products. Fishing involves the extraction of fish and other aquatic resources from the sea, rivers, and lakes. However, weaving is a manufacturing activity that involves the production of textiles by interlacing threads on a loom. It does not involve the extraction of natural resources from the earth, but rather the use of raw materials such as cotton or wool that have already been extracted and processed. Therefore, weaving is not an example of the extractive industry.

The document issued by a public company allowing it to commence business is the

Détails de la réponse

The document issued by a public company allowing it to commence business is called the "Certificate of Incorporation." When a group of people decides to form a company, they must register it with the government. The process of registering a company involves submitting documents to the government, including the company's Memorandum of Association and Articles of Association. These documents outline the company's purpose, structure, and internal regulations. Once the government approves the registration and verifies that all necessary documents have been submitted, it issues a "Certificate of Incorporation" to the company. This certificate officially recognizes the company as a legal entity and grants it the authority to commence business operations. In summary, the "Certificate of Incorporation" is a crucial document that allows a public company to legally operate and conduct business.

Central banks sell treasury bills to the public to

Détails de la réponse

Central banks sell treasury bills to the public to reduce cash in circulation. Treasury bills are short-term government securities that are issued by the central bank and sold to the public in exchange for cash. When individuals or institutions buy these securities, they are essentially loaning money to the government for a fixed period of time, usually ranging from a few days to a few months. By selling treasury bills to the public, the central bank is able to withdraw money from circulation and reduce the amount of cash in the banking system. This helps to control inflation and maintain the stability of the currency. When the central bank sells treasury bills, it effectively takes money out of the economy, which can help to reduce the supply of money and prevent the value of the currency from decreasing. In addition, central banks may also use the revenue generated from the sale of treasury bills to fund government operations or to pay off existing debt. However, the primary purpose of selling treasury bills is to control the money supply and ensure that the economy remains stable and healthy.

The growth of commerce is not enhanced by

Détails de la réponse

The growth of commerce is not enhanced by low per capita income. Per capita income refers to the average income earned per person in a given area or population. Low per capita income can be a hindrance to the growth of commerce, as it means that people have less disposable income to spend on goods and services. When people have less money to spend, demand for goods and services decreases, which can negatively impact the growth of commerce. On the other hand, factors such as the development of modern forms of production, government participation in business, and high population growth can positively impact the growth of commerce.

Sea vessels that do not operate on regular times and routes are

Détails de la réponse

Sea vessels that do not operate on regular times and routes are called tramps. Tramp ships are essentially freighters that do not have a fixed schedule or specific ports of call. Instead, they are hired by cargo owners or shipping companies to transport goods to various destinations around the world. Tramp ships are often used to transport bulk cargo, such as coal, grain, or ore, and are known for their flexibility and cost-effectiveness. Because they do not have fixed schedules, tramp ships can be hired at short notice and can be rerouted to different destinations as needed. In contrast, ocean liners, container ships, and ferries all operate on regular routes and schedules. Ocean liners are large passenger ships that transport passengers and cargo on fixed routes, while container ships are used to transport standardized shipping containers on specific routes. Ferries, on the other hand, are typically used to transport passengers and vehicles across shorter distances, such as between nearby ports or islands. Overall, tramp ships provide a valuable service for companies that need to transport goods around the world, but do not require the regular schedules or specific routes of other types of ships.

One of the objectives of the Niger Basin Commission is to

Détails de la réponse

The objective of the Niger Basin Commission is to regulate and promote the sustainable development of the Niger River and its basin. This includes managing and protecting the natural resources within the basin, such as water, soil, and biodiversity, and promoting economic and social development in the region through projects and initiatives that are environmentally friendly and socially equitable. The Commission also aims to facilitate cooperation and coordination among the countries that share the Niger River and its basin, with the goal of ensuring peaceful and sustainable use of the resources within the basin for the benefit of all. Therefore, the correct option is regulating the sustainable use of natural resources and promoting economic and social development in the Niger River Basin.

A group of sellers who pool their resources to buy goods in large quantities and sell to its members is a

Détails de la réponse

A group of sellers who pool their resources to buy goods in large quantities and sell to its members is called a "wholesaler cooperative society". A wholesaler cooperative society is a type of organization formed by a group of sellers to purchase goods in large quantities and sell them to their members. Members of a wholesaler cooperative society are usually retailers or other small business owners who need to purchase goods in large quantities to sell in their own businesses. By pooling their resources, members of a wholesaler cooperative society can negotiate better prices and purchase goods that might not be available to them individually. The cooperative then sells the goods to its members at a markup, but still at a lower price than they would pay if they bought the goods individually. In summary, a "wholesaler cooperative society" is a group of sellers who work together to buy goods in bulk and sell them to their members, usually retailers or small business owners, at a lower price than they would be able to obtain individually.

Which of the following organizations provide essential goods and services at low cost to citizens?

Détails de la réponse

Public enterprises are the organizations that provide essential goods and services at low cost to citizens. These are government-owned and operated entities that are established to serve the public interest and meet the needs of the community. Public enterprises are typically created to provide goods and services that are considered essential to the public, such as electricity, water, transportation, healthcare, and education. By providing these goods and services at a lower cost, public enterprises can help to ensure that all citizens have access to the resources they need to live and thrive. Thrift societies, cooperative societies, and private companies may also provide essential goods and services, but they are not typically required to do so at a low cost to citizens, as they are not necessarily established to serve the public interest.

A document used to ensure correct payment of duty at the importing country is

Détails de la réponse

An agreement that is enforceable in law is

Détails de la réponse

An agreement that is enforceable in law is called a "contract." A contract is a legally binding agreement between two or more parties. It is created when one party makes an offer, and the other party accepts that offer, which leads to an agreement. The parties to a contract are legally bound to fulfill the terms of the contract, and failure to do so may result in legal action. For a contract to be legally enforceable, it must meet certain requirements. First, there must be an offer made by one party to another. The offer must be clear and unambiguous, and it must be communicated to the other party. Second, there must be an acceptance of the offer by the other party. The acceptance must be clear and unambiguous, and it must be communicated to the party making the offer. Third, there must be consideration, which is something of value that is exchanged between the parties. Consideration can take the form of money, goods, services, or a promise to do something. Finally, the parties must have the legal capacity to enter into the contract. This means that they must be of legal age, sound mind, and not under duress or undue influence. In summary, a contract is an agreement that is enforceable in law. It is created when one party makes an offer, the other party accepts that offer, there is consideration, and the parties have the legal capacity to enter into the contract.

The service of a retailer is part of production because it

Détails de la réponse

The service of a retailer is part of production because it "enables finished goods to reach consumers." Retailers are businesses that sell finished goods directly to consumers, usually in small quantities. They purchase goods from manufacturers or wholesalers and then sell them in their stores or online. The service of a retailer is important because it provides a way for finished goods to reach the end consumer, which is the ultimate goal of production. Without retailers, manufacturers would not be able to sell their finished goods directly to consumers, and consumers would have limited access to the goods they need and want. Retailers serve as a crucial link between producers and consumers, by making finished goods available to consumers in convenient locations. Therefore, the service of a retailer is an integral part of the production process because it enables manufacturers to sell their finished goods and allows consumers to access and purchase those goods. While retailers may not directly create the finished goods, they play a vital role in bringing them to market and making them available to consumers. In contrast, a commercial occupation refers to any occupation or business activity that is engaged in for the purpose of making a profit. While retailing is a commercial occupation, it is also an important part of the production process because it enables finished goods to reach consumers.

A form of money which was not used in the early days of trade is

Détails de la réponse

Cowries are a form of money which were not used in the early days of trade. Cowries are the shells of sea snails and were used as a medium of exchange in some societies in Africa and Asia in the past. However, in the early days of trade, when people first started exchanging goods and services, cowries were not commonly used. Instead, other forms of currency, such as barter or the exchange of goods for goods, were used. Later on, other forms of money such as metal bars, coins and paper money were developed and used in various parts of the world.

One of the functions of commerical banks that cannot be performed by central banks is

Détails de la réponse

One of the functions of commercial banks that cannot be performed by central banks is the collection of deposits from the public. Commercial banks are financial institutions that accept deposits from individuals and businesses and use those funds to make loans to others. Central banks, on the other hand, are responsible for implementing monetary policy and maintaining financial stability. While central banks do play a role in regulating commercial banks, they do not accept deposits from the public like commercial banks do. Therefore, the collection of deposits from the public is a function that is unique to commercial banks and cannot be performed by central banks.

An advantage of rail transport is that it

Détails de la réponse

An advantage of rail transport is that it carries bulky and heavy goods. Rail transport is a mode of transportation that uses railroads to move goods and people. It is particularly advantageous for transporting heavy and bulky goods such as raw materials, coal, lumber, and heavy equipment. Rail transport has the capacity to move large volumes of goods over long distances, and it is often more cost-effective than other modes of transport, such as road or air transport. This is because trains can carry more cargo per trip, and the cost of fuel and maintenance is generally lower than other transportation modes. Moreover, rail transport can be a safer and more reliable mode of transportation for heavy and bulky goods. Trains are not affected by traffic congestion and can operate on a fixed schedule, which can reduce delays and improve delivery times. Additionally, rail transport can be integrated with other transportation modes to provide door-to-door delivery services for customers, enhancing its usefulness. While the other options provided in the question are not necessarily incorrect, they do not represent the main advantage of rail transport. Rail transport can require significant maintenance costs, and it can be subject to delays due to weather, mechanical failures, or other factors. Additionally, while rail transport can facilitate door-to-door delivery, it may not be as efficient as other modes of transport for smaller or lighter shipments.

The management function which involves measuring outcomes and taking corrective action to reduce error is

Détails de la réponse

The management function which involves measuring outcomes and taking corrective action to reduce error is controlling. Controlling is a management function that involves monitoring and evaluating a company's performance against its goals and objectives. It involves measuring outcomes, comparing them to desired results, and taking corrective action to reduce error and improve performance. This function is an important part of the management process, as it helps ensure that the company is on track and making progress towards its goals. By regularly monitoring performance and taking corrective action as needed, a company can stay focused and achieve its objectives more effectively.

An undertaking to repair a customer's vehicle for a certain period after it has been sold is

Détails de la réponse

An undertaking to repair a customer's vehicle for a certain period after it has been sold is called after-sales service. After-sales service refers to the support and assistance provided to customers after they have purchased a product, such as a vehicle. This can include repair and maintenance services, as well as customer support and troubleshooting. The goal of after-sales service is to ensure customer satisfaction and to retain customer loyalty by providing ongoing support and assistance. The other options - marketing mix, market segmentation, and sales promotion - are all related to marketing and sales, but they do not specifically refer to after-sales service. The marketing mix refers to the various elements of a marketing plan, such as product, price, place, and promotion. Market segmentation refers to the process of dividing a market into smaller groups of consumers with similar needs or characteristics. Sales promotion refers to short-term incentives to encourage the purchase of a product or service.

The principle which prevents an insured from receiving a claim that is more than the value of the loss, if the property is insured by more than one company is

Détails de la réponse

The principle which prevents an insured from receiving a claim that is more than the value of the loss, if the property is insured by more than one company is called contribution. Contribution refers to the principle in insurance law that requires insurers to share the cost of a loss when multiple insurance policies cover the same property. The idea is that an insured should not be able to profit from insuring the same property with multiple companies. The principle of contribution ensures that the total amount received from multiple insurance policies does not exceed the value of the loss. The other options - indemnity, proximate cause, and uberrimae fidei - are also related to insurance law, but they do not specifically refer to the principle of contribution. Indemnity refers to the principle that an insurance policy should restore the insured to the same financial position they were in prior to the loss. Proximate cause refers to the cause of a loss that is considered the most significant or primary cause, and is therefore covered by insurance. Uberrimae fidei is the legal principle that requires an insurance policy to be based on utmost good faith, meaning that the insured must disclose all material facts to the insurer when applying for insurance.

A business unit in which savings of members are lent to others is a

Détails de la réponse

A business unit in which savings of members are lent to others is called a "credit and thrift society". A credit and thrift society is a type of financial institution where individuals pool their savings to provide loans to other members of the society. Members of the society may include individuals, small businesses, or even large corporations. The primary objective of a credit and thrift society is to provide its members with access to credit at a reasonable cost. Members can borrow funds from the society to finance their businesses or personal expenses, and the loans are typically repaid with interest over a predetermined period of time. Credit and thrift societies are often formed by individuals or small groups who are unable to obtain loans from traditional banks due to a lack of collateral or a poor credit history. By pooling their resources and lending to one another, members of a credit and thrift society can obtain the funds they need to start or expand their businesses, or to meet their personal financial needs. In summary, a "credit and thrift society" is a business unit where members pool their savings to provide loans to one another, with the primary objective of providing access to credit at a reasonable cost.

The part of issued share capital that the company has asked the subscribers to pay for

Détails de la réponse

Among the options given, the term that refers to the part of the share capital that the company has asked its shareholders to pay for is "called-up capital." When a company wants to raise funds, it can issue shares to investors in exchange for money. The share capital represents the total amount of money that the company can raise from issuing shares. However, the company may not require all of that money upfront. It may ask its shareholders to pay for the shares they have subscribed to in installments, as and when the company needs the funds. The amount of money that the company has called upon its shareholders to pay is called the called-up capital. For example, if a company has issued 1,000 shares of $10 each, its share capital would be $10,000. However, if the company has only asked its shareholders to pay for 500 shares, then the called-up capital would be $5,000. The remaining $5,000 is the uncalled capital, which the company can ask for at a later date. So, to summarise, the called-up capital is the portion of the share capital that the company has asked its shareholders to pay for, while the uncalled capital is the amount that the company may ask for at a later date.

Which of the following groups would advocate for the supply of constant electricity to households?

Détails de la réponse

The group that would advocate for the supply of constant electricity to households is the "Consumer's association". A consumer's association is an organization that represents the interests of consumers in a particular market or industry. The main objective of a consumer's association is to ensure that the goods and services provided by the industry meet the needs and expectations of consumers. In the case of the supply of constant electricity to households, a consumer's association would advocate for the needs of households and their requirements for electricity. The association would seek to ensure that electricity suppliers provide a consistent and reliable supply of electricity to households, with minimal disruptions or outages. The advocacy efforts of a consumer's association may include lobbying for government policies that support the provision of constant electricity to households, working with electricity suppliers to improve their services, and educating consumers about their rights and responsibilities in relation to electricity supply. In summary, a "Consumer's association" is the group that would advocate for the supply of constant electricity to households, with the objective of ensuring that electricity suppliers provide a consistent and reliable supply of electricity to households.

Average stock is derived by adding

Détails de la réponse

The average stock is derived by adding the opening stock to the closing stock and then dividing the sum by two. The opening stock is the value of inventory at the beginning of an accounting period, while the closing stock is the value of inventory at the end of the accounting period. The average stock is the value of inventory that a business holds on average during the accounting period. By adding the opening and closing stock and then dividing by two, a business can calculate the average stock value. This calculation is used in various accounting and financial ratios, such as inventory turnover ratio and gross profit ratio. These ratios help a business to analyze its inventory management and profitability. The other options provided in the question are not correct methods to calculate the average stock value. The first option is the average of closing stock and purchases, which does not include the opening stock. The second option is the ratio of closing stock to opening stock, which does not provide an average value. The fourth option is the difference between opening stock and purchases, which also does not include the closing stock value.

The marketing term which regards the consumer as king that must be satisfied is

Détails de la réponse

The marketing term which regards the consumer as king that must be satisfied is the "marketing concept." The marketing concept is a philosophy that emphasizes the importance of understanding and meeting the needs and wants of customers, with the goal of maximizing profits and achieving long-term success. It is based on the idea that by putting the customer first and providing them with products and services that meet their needs, a business will naturally attract and retain a large and loyal customer base. In essence, the marketing concept treats the consumer as king, recognizing that they are at the center of all marketing efforts and decisions.

Commerce is defined as

Détails de la réponse

Commerce is defined as "all activities involved in the distribution and exchange of goods and services." Commerce encompasses a wide range of activities that relate to the buying and selling of goods and services. These activities include production, marketing, distribution, and exchange. Commerce can take place at both the local and international level, and it involves a variety of participants, such as businesses, governments, consumers, and intermediaries. Commerce includes all the activities involved in getting goods and services from the producers to the consumers. This includes activities such as sourcing, production, transportation, warehousing, marketing, sales, and customer service. Commerce is essential to the functioning of modern economies. It allows businesses to produce goods and services efficiently and to distribute them to a wide range of consumers. It also provides consumers with a range of options for goods and services, and it creates employment opportunities and generates income for businesses and individuals. In summary, commerce is defined as all the activities involved in the distribution and exchange of goods and services. It includes a wide range of activities related to sourcing, production, marketing, distribution, and sales, and it is essential to the functioning of modern economies.

A feature of supermarkets which distinguishes it from other large scale retail outlets is that items sold are

Détails de la réponse

A feature of supermarkets that distinguishes it from other large scale retail outlets is that items sold are mainly household goods. Supermarkets are large retail stores that specialize in selling a wide range of consumer goods, including food, beverages, household items, personal care products, and more. Unlike other retail outlets, such as industrial supply stores or specialty shops, the primary focus of a supermarket is on selling goods for everyday household use. Supermarkets are designed to offer consumers a convenient, one-stop shopping experience, where they can purchase a variety of items in a single location. This sets them apart from other retail outlets, which may specialize in selling a narrower range of products or focus on a specific market segment.

An internal source of finance to an enterpreneur is

Détails de la réponse

An internal source of finance to an entrepreneur is retained earnings. This refers to the profit that a business keeps and re-invests into the business, rather than distributing it as dividends to shareholders. Retained earnings can be used to finance a variety of business expenses, such as expanding operations, acquiring new assets, or developing new products. This type of financing is considered internal because it comes from within the business, rather than from external sources like loans or investments. Retained earnings are a flexible source of financing that do not have to be repaid and do not come with any interest or repayment obligations.

A retail business that sells goods by post, using catalogue is a

Détails de la réponse

The type of retail business that sells goods by post using a catalogue is called a "mail order firm." A mail order firm is a company that allows customers to purchase goods from a catalogue without visiting a physical store. Customers can browse through a catalogue or an online store, select the items they want to buy, and place an order. The goods are then delivered to the customer's address by post or courier. The catalogue typically contains pictures and descriptions of the products that the company offers for sale. Customers can choose to pay for the goods using a variety of payment options, such as credit card, debit card, or bank transfer. Mail order firms are popular because they offer convenience to customers who may not have the time or ability to visit a physical store. They also offer a wider range of products than a physical store because they can source products from all over the world. In summary, a mail order firm is a retail business that sells goods by post using a catalogue or online store, allowing customers to purchase products without visiting a physical store.

An association formed by computer distributors to safeguard and promote their interest is a

Détails de la réponse

An association formed by computer distributors to safeguard and promote their interest is a trade association. A trade association is a group of companies in a specific industry who come together to address common issues and goals. Trade associations are formed to promote the interests of their members, which can include advocating for favorable laws and regulations, providing networking opportunities, offering educational resources and training, and working to improve the overall reputation of the industry. In the case of computer distributors, a trade association could be formed to represent their interests and help them grow and succeed in the industry.

Which of the following documents would a shareholder inspect to know his voting rights?

Détails de la réponse

A shareholder would inspect the "Articles of Association" to know his/her voting rights. The articles of association are a legal document that outlines the rules and regulations that govern the internal management of a company. This document specifies the voting rights of each class of shareholders, the procedures for holding meetings, and the voting procedures for each meeting. Therefore, if a shareholder wants to know his/her voting rights, they should refer to the articles of association of the company in which they hold shares.

Goods bought into the country for sale are the country's

Détails de la réponse

Goods that are brought into a country for sale are the country's visible imports. This is because visible imports refer to physical goods that are brought into a country from another country for consumption or resale. Examples of visible imports include raw materials, finished goods, and capital goods. These imports are visible because they can be physically seen and are recorded in the country's balance of payments, which is a record of all the economic transactions between that country and the rest of the world. In contrast, invisible imports refer to non-physical services that are provided by foreign entities, such as tourism or foreign investment. Similarly, visible exports are physical goods that are produced domestically and sold to foreign countries, while invisible exports are non-physical services that are provided domestically to foreign entities. Therefore, the correct option is visible imports.

The right to buy or sell stock in the stock exchange within a stipulated period is

Détails de la réponse

Dealers in stock exchange such as bulls, bears and stags are categorized as

Détails de la réponse

Dealers in the stock exchange such as bulls, bears, and stags are categorized as "speculators." Speculators are individuals or entities who buy or sell financial assets, such as stocks, bonds, or commodities, in the hope of making a profit from price fluctuations. They are often motivated by the potential for high returns, but they also face significant risk due to the volatility of financial markets. In the context of the stock exchange, bulls are speculators who believe that stock prices will rise, and therefore buy stocks in the hope of selling them later at a higher price. Bears, on the other hand, are speculators who believe that stock prices will fall, and therefore sell stocks in the hope of buying them back at a lower price. Stags are speculators who buy stocks at the time of the initial public offering (IPO), hoping to sell them later at a profit when the price goes up due to high demand. In contrast, an actuary is a professional who uses mathematical and statistical methods to analyze and assess financial risk, usually in the context of insurance or pension plans. Promoters are individuals or companies who promote and market a particular product, service, or idea to the public. An underwriter is a financial institution or individual who assumes the risk of buying new securities from a company and reselling them to the public. They are not typically involved in the buying and selling of securities on the stock exchange.

An article used as a means of exchange in the early days of trade in West Africa was

Détails de la réponse

An article used as a means of exchange in the early days of trade in West Africa was the cowrie. A cowrie is a small, shiny, freshwater snail shell that was widely used as a form of currency in many parts of Africa, Asia, and the Pacific. It was especially popular in West Africa, where it was used for trade and as a means of exchange for goods and services. The cowrie was valued for its rarity and beauty, as well as for its durability, making it an ideal form of currency for long-distance trade. The other options - cedis, dalasi, and naira - are all the names of modern-day currencies used in West Africa, but they were not used as a means of exchange in the early days of trade in the region.

The last link in a channel of distribution is the

Détails de la réponse

The last link in a channel of distribution is the consumer. A channel of distribution refers to the series of intermediaries that a product or service goes through before it reaches the final customer. The last link in this chain is the consumer, who is the end user of the product or service. All the other intermediaries in the channel, such as wholesalers, retailers, and agents, play a role in getting the product to the consumer, but the consumer is the ultimate recipient. The goal of the channel of distribution is to get the product into the hands of the consumer in an efficient and effective manner.

The incentive given to a buyer to encourage prompt payment is

Détails de la réponse

The incentive given to a buyer to encourage prompt payment is called a "cash discount." A cash discount is a reduction in the price of a product or service that a seller offers to a buyer as an incentive for paying their invoice within a certain period of time. The discount amount and the time period for payment are typically specified in the terms of the sale. For example, a seller may offer a 2% discount if the buyer pays the invoice within 10 days, rather than the standard 30 days. This incentivizes the buyer to pay the invoice early, which improves the seller's cash flow and reduces the risk of late or unpaid invoices. A cash discount is also known as a prompt payment discount, because it rewards buyers who pay their bills promptly. It can be a win-win situation for both the seller and the buyer, as the seller benefits from improved cash flow and the buyer benefits from a lower cost of goods or services. In contrast, a seasonal discount is a reduction in price that is offered to buyers during a specific season, such as a sale on winter clothing during the summer. A quantity discount is a reduction in price that is offered to buyers who purchase a large quantity of a product, while a trade discount is a reduction in price that is offered to resellers, such as wholesalers or retailers.