Commerce 2005 Jamb Examination

When government corporations are commercialized, they operate more like private businesses. This promotes competition among business operators as efficiency and profit motives increase, encouraging rivalry in the market.

Personal selling involves direct face-to-face communication with customers to persuade and inform them about a product, whereas sales promotion uses indirect methods such as gifts or samples.

Communication from a superior to a subordinate is called downward communication. It typically includes instructions, policies, or feedback directed from management to employees.

A procedure is a set of detailed, step-by-step instructions for performing tasks in an office. It ensures consistency and efficiency in organizational operations.

The telephone allows real-time, unwritten communication to multiple branches simultaneously, providing immediacy and clarity in organizational messages compared to other media.

Inter-departmental communication requires fast and documented channels. Memoranda, circulars, and the telephone are commonly used to ensure clarity, timeliness, and record-keeping.

The travellers' cheque is a negotiable instrument often traded in the second-tier foreign exchange market, allowing foreign exchange transactions outside the official first-tier market.

Creating a container and graphic design for a product is known as packaging. It protects the product, facilitates storage, and promotes it visually to consumers.

A carrier is a business firm that provides transport services for goods or people, either for hire or contract, distinct from the consignor who owns the goods.

Essential factors for tourism include good weather, amenities, accessibility, and scenery. These attract tourists and facilitate enjoyable travel experiences.