NECO 2015 MAY/JUNE C0MMERCE THEORY AND OBJ PAPER I,II ANSWER IS NOW AVAILABLE
COMMERCE OBJ
=================
Commerce-Type B
1-10 BECABBADAE
11-20 DEDBBEEBCA
21-30 DDACBBEEAA
31-40 ACACAEDEED
41-50 EBDADBEDBB
51-60 EDCDDBEDBD
===============
Commerce-Type C
1BEEABDADAE
11DEDBCEEBCA
21DAACBBEEAA
31ACACAEDEED
41EBDAADEBBD
51EDCDDBEBAA
===============
Use This Obj To Indicate Your Type!
===============
Commerce-Type C
===============
1B-departmental stores
2E-provides do to door
3E-sole proprietorship
4A-filling deposit slip
5B-chamber of commerce
6D-retailer
7A-brand
8D-subrogation
9A-ability to cover business risk through insurance
10E-specultion
11D-performance
12E-working
13D-free
14B-entrepreneur
15C-move goods from factory to consumer
16E-tax evasion
17E-insufficient fund
18B-customers address
19C-passenger and cargo
20A-N160000
21D-order
22A-commercialisation
23A-bid
24C-overdraft
25B-franchise
26B-mark up
27E-valuable consideration
28E-supply and demand policy
29A-economic
30A-granting loans
31A-individuals transact business with central bank
32C-dishonoured
33A-financial
34C-fishing
35A-co-operative society
36E-spreading financial losses on investors
37D-state
38E-working
39E-planning
40D-influence private life
41E-trainning
42B-fixed
43D-manufacturing
44A-enjoy monopoly
45A-finance
46B-post sales activities
47E-Reciept
48D-encourage dumping
49B-gross profit/selling price *100%
50B-general
51E-general
52D-providehome and foreign trade
53C-60000
54D-100000
55D-trade journals
56B-direct
57E-persuasive
58B-express mail
59A-balance of payment
60A-buyers beware
============================
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&a 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 dundertaking
campaigns and othera forms of activities
that will lead
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
5a
Discount is an allowance or
concession or deduction
in price. The seller deducts the
discount from the gross or total
price, and the buyer is
supposed to pay the net amount.
5b
1. Cash Discount
Cash discount is an allowance or
concession given by the seller to the
buyer. This discount is offered to
encourage the buyer for quick
payment or settlement. It is allowed
for immediate payment of cash or
payment within a short period.
2. Trade Discount
Trade Discount is a reduction in the
catalogue price of the goods allowed
only if
the quantity ordered by the buyer is
quite
large. Its purpose is to encourage
the buyer
to make bulk purchases. It is allowed
on cash as well as credit sales.
3. Partial payment discount
Similar to the Trade discount, this is
used
when the seller wishes to improve
cash flow
or liquidity, but finds that the buyer
typically
is unable to meet the desired
discount
deadline. A partial discount for
whatever
payment the buyer makes helps the
seller's
cash flow partially.
4. Seasonal discount
These are price reductions given
when an order is placed in a slack
period (example:
purchasing skis in April in the
northern hemisphere, or in
September in the southern
hemisphere).
5c
i) To increase short-term sales.
ii)To move out-of-date stock.
iii) To reward valuable
customers.
iv) To encourage distribution
channel
members to perform a function.
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
8.
i.pricing with the market:this is a pricing policy that takes into consideration the leaders in the industry.it is also known as"follow-the-leader"pricing i.e the producer charges prices that match those of the industry leader
ii.market skimming:this is a pricing policy that is applied by setting up an initial high price which will eventually be reduced as competition in the market goes up.this will induce consumers to buy more if the product when competitor's price remain high
iii.market penetration:this is a pricing strategy being used in introducing a new product into the market.it entails changing a low price in order to get back the initial investment from huge sales.
iv.supply and demand curve:this is a pricing policy in accordance with economic theory which states that the price of a product is one of where the supply and demand curves intercept each other (i.e the equilibrium price)
v.pricing above the market:this is a pricing policy that aims at changing higher prices than the competitors.it is a strategy usually adopted by firms selling to the wealthy people who want prestige or like to create a special class
9
i.climatic and weather differences:climatic and weather condition determine to a large extent the nature of occupation that will be practised in such an area.while lumbering in practised in thick swampy forest areas,fishing is being practised in the riverine area
ii.education,skill and training:normally,people engage in occupation in which they have education,skill and training.this is why a trained doctor engages in rendering medical services while unskilled workers are engaged in extractive occupations like farming,mining,quarrying etc
iii.natural resources:the presence of mineral resources in a particular place will attract the attention of miners while the existence of pool of water or seaport which are part of natural resources will dictate the type of occupation that is predominant in such area.
iv.salary&wages: the remuneration and conditions of service attached to a particular occupation determines the number that will be interested in such an occupation.for example,many people are running away from teaching as an occupation because of the poor condition of service attached to it
v.government policies:the policy of government as regards the age of employment determines the occupation the choice of occupation into which individual fits in.
=================
Commerce-Type B
1-10 BECABBADAE
11-20 DEDBBEEBCA
21-30 DDACBBEEAA
31-40 ACACAEDEED
41-50 EBDADBEDBB
51-60 EDCDDBEDBD
===============
Commerce-Type C
1BEEABDADAE
11DEDBCEEBCA
21DAACBBEEAA
31ACACAEDEED
41EBDAADEBBD
51EDCDDBEBAA
===============
Use This Obj To Indicate Your Type!
===============
Commerce-Type C
===============
1B-departmental stores
2E-provides do to door
3E-sole proprietorship
4A-filling deposit slip
5B-chamber of commerce
6D-retailer
7A-brand
8D-subrogation
9A-ability to cover business risk through insurance
10E-specultion
11D-performance
12E-working
13D-free
14B-entrepreneur
15C-move goods from factory to consumer
16E-tax evasion
17E-insufficient fund
18B-customers address
19C-passenger and cargo
20A-N160000
21D-order
22A-commercialisation
23A-bid
24C-overdraft
25B-franchise
26B-mark up
27E-valuable consideration
28E-supply and demand policy
29A-economic
30A-granting loans
31A-individuals transact business with central bank
32C-dishonoured
33A-financial
34C-fishing
35A-co-operative society
36E-spreading financial losses on investors
37D-state
38E-working
39E-planning
40D-influence private life
41E-trainning
42B-fixed
43D-manufacturing
44A-enjoy monopoly
45A-finance
46B-post sales activities
47E-Reciept
48D-encourage dumping
49B-gross profit/selling price *100%
50B-general
51E-general
52D-providehome and foreign trade
53C-60000
54D-100000
55D-trade journals
56B-direct
57E-persuasive
58B-express mail
59A-balance of payment
60A-buyers beware
============================
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&a 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 dundertaking
campaigns and othera forms of activities
that will lead
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
5a
Discount is an allowance or
concession or deduction
in price. The seller deducts the
discount from the gross or total
price, and the buyer is
supposed to pay the net amount.
5b
1. Cash Discount
Cash discount is an allowance or
concession given by the seller to the
buyer. This discount is offered to
encourage the buyer for quick
payment or settlement. It is allowed
for immediate payment of cash or
payment within a short period.
2. Trade Discount
Trade Discount is a reduction in the
catalogue price of the goods allowed
only if
the quantity ordered by the buyer is
quite
large. Its purpose is to encourage
the buyer
to make bulk purchases. It is allowed
on cash as well as credit sales.
3. Partial payment discount
Similar to the Trade discount, this is
used
when the seller wishes to improve
cash flow
or liquidity, but finds that the buyer
typically
is unable to meet the desired
discount
deadline. A partial discount for
whatever
payment the buyer makes helps the
seller's
cash flow partially.
4. Seasonal discount
These are price reductions given
when an order is placed in a slack
period (example:
purchasing skis in April in the
northern hemisphere, or in
September in the southern
hemisphere).
5c
i) To increase short-term sales.
ii)To move out-of-date stock.
iii) To reward valuable
customers.
iv) To encourage distribution
channel
members to perform a function.
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
8.
i.pricing with the market:this is a pricing policy that takes into consideration the leaders in the industry.it is also known as"follow-the-leader"pricing i.e the producer charges prices that match those of the industry leader
ii.market skimming:this is a pricing policy that is applied by setting up an initial high price which will eventually be reduced as competition in the market goes up.this will induce consumers to buy more if the product when competitor's price remain high
iii.market penetration:this is a pricing strategy being used in introducing a new product into the market.it entails changing a low price in order to get back the initial investment from huge sales.
iv.supply and demand curve:this is a pricing policy in accordance with economic theory which states that the price of a product is one of where the supply and demand curves intercept each other (i.e the equilibrium price)
v.pricing above the market:this is a pricing policy that aims at changing higher prices than the competitors.it is a strategy usually adopted by firms selling to the wealthy people who want prestige or like to create a special class
9
i.climatic and weather differences:climatic and weather condition determine to a large extent the nature of occupation that will be practised in such an area.while lumbering in practised in thick swampy forest areas,fishing is being practised in the riverine area
ii.education,skill and training:normally,people engage in occupation in which they have education,skill and training.this is why a trained doctor engages in rendering medical services while unskilled workers are engaged in extractive occupations like farming,mining,quarrying etc
iii.natural resources:the presence of mineral resources in a particular place will attract the attention of miners while the existence of pool of water or seaport which are part of natural resources will dictate the type of occupation that is predominant in such area.
iv.salary&wages: the remuneration and conditions of service attached to a particular occupation determines the number that will be interested in such an occupation.for example,many people are running away from teaching as an occupation because of the poor condition of service attached to it
v.government policies:the policy of government as regards the age of employment determines the occupation the choice of occupation into which individual fits in.
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