Which of the following encourages trade between regions?
Differences in currencies of countries
Difference in national income of countries
Existence of trade associations
Differences in natural resources
Correct answer is D
One of the major reasons for trade is the difference in the natural resources of each country. No country is an island of its own, no matter how efficient its production factors may have been utilized.
There is always going to be something the region needs and may have to source for it from its neighbors.
rate at which the central bank discounts first class bills
rate at which a country's exports exchange for its imports
expected rate of returns on an investment
rate of payment for goods and services purchased
Correct answer is B
No explanation has been provided for this answer.
Which of the following is a feature peculiar to multiple shops?
Central location
Self service
Central buying
One stop shopping
Correct answer is B
No explanation has been provided for this answer.
A manufacturer of goods that are seasonally will be in dire need of a?
wealthy customer
suitable means of transport
warehouse
large shop frontage
Correct answer is C
No explanation has been provided for this answer.
Which of the following will not be considered in choosing a channel of distribution?
Nature of product
Preferences of consumers
Volume of sales
Quality of product
Correct answer is D
The quality of the product being sold is not a factor to consider when choosing to either sell directly to consumers or to go through middlemen.
Some of the factors to consider include