JAMB Commerce Past Questions & Answers - Page 75

371.

Trading position of Nigeria is the same as her

A.

desire to trade with many countries

B.

willingness to grant credit to foreigners

C.

balance of trade

D.

terms of trade

Correct answer is A

No explanation has been provided for this answer.

372.

A country is said to be experiencing an unfavorable balance of trade if her

A.

exports exceed imports

B.

visible exports exceed visible imports

C.

imports and exports are equal

D.

visible imports exceed visible exports

Correct answer is D

when the value of its imports exceed exports.

373.

The final link in the chain of distribution is

A.

middlemen

B.

whole saling

C.

consumer

D.

retailing

Correct answer is C

The distribution system is the final link in the chain of supply from manufacturer to the consumer

374.

The assembling of products into usable forms is known as

A.

creation

B.

manufacturing

C.

construction

D.

formation

Correct answer is B

Manufacturing refers to a production of goods that converts raw materials, parts, and components into finished merchandise

375.

A business organization must always consider the overall effect of its actions on the

A.

competitor

B.

product

C.

profit

D.

society

Correct answer is D

As a business cooperation, your product should have a positive impact on the society at large.