WAEC Commerce Past Questions & Answers - Page 176

876.

The document a seller uses in dispatching goods to a customer by a carrier is

A.

a bill of landing

B.

an invoice

C.

an advice note

D.

a delivery note

Correct answer is D

A delivery note is a document sent with a shipment of goods that describes the goods and the quantities being delivered. 

877.

The major problem encountered in international trade is that of

A.

distance

B.

differences in culture

C.

politics

D.

differences in currency

Correct answer is D

The most common issues you can face doing international trade is the difference in currency and exchange rate

878.

The basis for international trade is embedded in the principle of

A.

absolute advantage

B.

globalization

C.

deregulation

D.

comparative advantage

Correct answer is D

A person has a comparative advantage at producing something if he can produce it at lower cost than anyone else. This is one of the basis of international trade

879.

The main purpose of branding is to

A.

create identity for a product

B.

make a product look attractive

C.

create product awareness

D.

increase sales volume

Correct answer is A

It is a way of distinguishing yourself from the competitors and clarifying what it is you offer that makes you the better choice.

880.

The sales of goods through a medium that accepts money and delivers the items to the customer is

A.

an automated teller machine

B.

a vending machiine

C.

a counting machine

D.

a branding machine

Correct answer is B

vending machiine; a machine that dispenses small articles such as food, drinks, or cigarettes when a coin or token is inserted.