Commerce 2023 Jamb Examination
Question 71
A clean bill of lading is one that indicates that the goods were received in good condition with no damage or discrepancies noted.
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Question 72
A quota limits the quantity of a specific good that can be imported into a country, protecting domestic industries.
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Question 73
The four P's—Product, Price, Place, and Promotion—together form the marketing mix, a key concept in marketing strategy.
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Question 74
The central bank serves as the lender of last resort and regulates the banking system, unlike commercial banks which lend to the public.
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Question 75
Contributing to community development is part of a business's social responsibilities, reflecting its commitment to society.
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Question 76
The process of buying, selling and distribution of goods and services is
Commerce" encompasses the broad concept of exchanging goods and services, including buying, selling, and distribution.
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Question 77
Open market operations involve the buying and selling of government securities by the central bank to regulate money supply and control inflation.
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Question 78
Market orientation is a system where businesses focus on producing goods and services based on customer needs to encourage patronage.
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Question 79
A counter offer acts as a rejection of the original offer and simultaneously presents a new offer to the other party.
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Question 80
Market orientation is a system where businesses focus on producing goods and services based on customer needs to encourage patronage.
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