JAMB Commerce Past Questions & Answers - Page 197

981.

The application of division of labour should generally bring about

A.

increase in the quantity of goods and service

B.

increase in the variety of goods and services

C.

cheapness of goods and services

D.

cost efficiency in the production of goods and services

Correct answer is A

No explanation has been provided for this answer.

982.

Product involves

A.

making goods avaiable where and when needed

B.

changing the form of goods, moving and making them avaiable as needed

C.

the manufacturing of goods and provision of services

D.

the assembling of all necessary parts to produce a finished product

Correct answer is B

Product refers to the item actually being sold and any item that intends to satisfy the needs and wants of a target customer. It can be a tangible good, such as a clothing item or piece of software, or intangible, like a service or experience (think legal services or a cruise).

It begins at the point of production where it is changed from one form to another, to the point where they are made available to consumers

983.

The major factors that facilitate merchandising are

A.

commuincation , advertising and banking

B.

trading, warehousing and production

C.

management, insurance, and advertising

D.

banking, insurance and transportation

Correct answer is D

No explanation has been provided for this answer.

984.

The proposed monetary integration within ECOWAS sub-region has the overriding benefit of a

A.

improved exchange

B.

enhanced trade

C.

enhance development

D.

improved relations

Correct answer is B

No explanation has been provided for this answer.

985.

Which of the following group of countries are members of the Niger Basin Commission?

A.

The republic of Guinea, Burkina Faso and Nigeria

B.

Ghana, liberia, and the republic of Benin

C.

Mali, Liberia and Nigeria

D.

Ghana , Burkina Faso and Chad

Correct answer is A

No explanation has been provided for this answer.