Commerce 2006 Jamb Examination

In Nigeria, gas flaring from oil exploration is the major source of environmental pollution.

The slogan "Safeguarding the health of the nation" belongs to NAFDAC (National Agency for Food and Drug Administration and Control).

This situation is called ratification, where an unauthorized act is later approved by the principal.

Privatization improves efficiency by encouraging competition and reducing government bureaucracy.

ECOWAS members include West African countries such as Togo, Niger, Nigeria and Ghana. Countries like Chad, Gabon, Algeria and Cameroun are not members.

Unlike trade associations, chambers of commerce are not restricted to one particular industry but cover diverse business interests.

Hire purchase is beneficial to the seller as it increases his turnover, since more people can afford to buy goods through instalments.

Consumerism is a movement that protects consumers from harmful and substandard products and promotes their rights.

The major types of warehouses are manufacturer, bonded, public and departmental.

The Customs and Excise Department is mainly responsible for the collection of tariffs (import and export duties).