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    Home MCQ examination Jamb Commerce 2013

    Commerce 2013 Jamb Examination

    Commerce 2013 Jamb Examination
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    12345

    Question 31

    Which of the following is used as a pricing policy?
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    Market skimming is a pricing strategy involving high initial prices for new products.

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    Question 32

    The essential utility derived from the use of a product is known as
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    The core benefit is the fundamental utility a product provides to satisfy needs.

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    Question 33

    The breaking down of a market into separate and identifiable elements is known as
    Show explanation Expand Question

    Market segmentation divides the market into distinct groups for targeted marketing.

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    Question 34

    A contract that is acknowledged before the law court is referred to as
    Show explanation Expand Question

    A formal contract is one recognized by law and acknowledged before a court.

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    Question 35

    An agent employed to sell goods delivered to him by the principal is referred to as a
    Show explanation Expand Question

    A factor is an agent employed to sell goods delivered to him by the principal and bears certain responsibilities.

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    Question 36

    A motor dealer who agreed to sell a car to Mr X but delivered it to Mr Y on the delivery date agreed with Mr X. He has discharged the contract by
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    The contract is discharged by performance when the terms are fulfilled as agreed.

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    Question 37

    The right to retain possession of goods until the contract price is paid is referred to as
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    A lien is the legal right to retain goods until payment is made.

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    Question 38

    A contract can be terminated through
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    Frustration occurs when a contract cannot be performed due to unforeseen circumstances.

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    Question 39

    The sole legal right held by the author to publish his book is
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    Copyright is the exclusive right of an author to publish or reproduce their work.

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    Question 40

    The process of transferring data from one computer to another is referred to as
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    Downloading is the process of transferring data from one device to another.

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