Waec

2018 Waec Commerce Answers (May/June Epo)

2018 waec agricultural science theory & obj answers

How To Get 2018 Waec Commerce Answers

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Commerce OBJ:
1-10: DCBABDDBBB

11-20:ABDBDCCCCD

21-30:BACCABABBC

31-40: ABCADDDADA

41-50: CCBBCAAABB

1a)
-The size of the market: The most common limitation to division of labor is the size of the market. By the size of the market, what is meant is the size of the demand for a particular commodity. If the size of the market is very small and demand of the commodity or product is not high, then division of labor cannot really be practiced.

-Some work cannot be broken down into a number of processes. Not all work can be compatible with division of labor. The production of certain commodities is so simple that it involves only one or two processes. And in these cases it is rational and also economically rational to avoid division of labor.

1b)
– Higher productivity
– Lower costs
– Simplified training
– Inventions
– Greater cooperation
– Better goodwill

1c)
– Monotony:
– Lack of responsibility
– Lack of job pride
– Too much interdependence
– Limited market

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(2a)
1. accessibility to the retail outlet for example is it close to the road so people can easily reach it not in some back alleyway
2. target group of customers to be attracted
3. competition from other retail outlets
4. The development potential of the area in case of future expansion plans
5. nearness to customers

(2b)
1. Assembling
The wholesaler buys goods from different
manufacturers producing the same line of
goods. He assembles them in his warehouse for the purpose of sale to the retailers.

2. Storage: A wholesaler stores the goods in his warehouse.
He makes them available in proper and required quantities as and when they are required by retailer.

3. Grading and Packing:
A wholesaler sorts out the goods according to
their quality size, shape, content etc and then
packs them carefully to sell them to the retailer.

4. Transportation:
Wholesaler buys goods in bulk from the producers and transports them in his own godown. The wholesaler also provides the facility of transporting the goods from
warehouse to the retailer shop.

5. Financing: This is an important function of a wholesaler. A wholesaler used goods on cash from the producers and sells on credit to the retailers. In this way, the financing facilities to trade transaction.
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5a.
1. Getting Word Out
For a business to succeed, the product or service it provides must be known to potential buyers.
2. Higher Sales
Once your product, service or company gets on the radar screen of your prospects, it increases your chances that consumers will make a purchase.
3. Higher Sales
Once your product, service or company gets on the radar screen of your prospects, it increases your chances that consumers will make a purchase.
4. Healthy Competition
Marketing also fosters an environment in the marketplace for healthy completion.

 

5b)
i)Advertising: The masses of customers dispersed geographically can be reached with the Promotio nal Tools of advertising, which can be repeated for a number of times. The popularity, size and success of the selling organization are enhanced by the large scale advertising.
ii)Personal Selling: At certain stages of the buying process, personal selling is the most effective promo tion tool in creating customer’s preferences, convictions and actions.
iii)Sales Prom otion: These Prom otional tools include sales prom otion which further contains a broad assortment of elements like Coupons Cent-off Deals Premiums.
iv)Public Relations: Public relations are much different from the ads and they are more influential than these ads.
iv)Direct Marketing: Direct marketing may take the following forms. Telemarketing Electronic Marketing Online Marketing Direct Mail

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6a)
It is an appendage to the stock exchange market where owners of existing security and buyers of security meet in order to negotiate and bargain on the exchange of goods and services

6b)
– It is an avenue for companies, investors to raise capital.

– The market provides opportunity for buying and selling of shares of companies.

– SSM affords investors the opportunity of assessing the profitability and efficiency of companies in order to know which company to invest.

– Investors are provided with the opportunity of obtaining loans.

6c)
– Application for Listing will only be entertained if sponsored by a Dealing Member of The Exchange.

– The company must be a public company, which will issue or has issued an invitation to the public to subscribe for its shares or has satisfied Council that the public is sufficiently interested in the company’s shares to warrant Listing.

– All securities for which listing is sought shall first be registered with the securities and Exchange Commission.

– Before the grant of Listing, all applicant companies shall sign a General
Undertaking that they will provide promptly certain information about their
operations and that they will follow certain administrative procedures.

– All companies admitted to Listing on The Exchange shall pay a listing fee as
laid down in Appendix iv and these fees are subject to review from time to time.

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7a)
contract is a voluntary arrangement between two or more parties that is enforceable by law as a binding legal agreement. Contract law recognises and governs the rights and duties arising from agreements

7 b )
1 . To Protect against Poor Quality
Companies rarely produce shoddy products on purpose . However , manufacturers may be tempted to use low – quality material in making certain appliances , causing them to be defective .
2 . To Stop Unethical Practices
The modern economy is fiercely competitive and unethical business owners will cut corners without regard to the health or safety of the consumers. Unethical practices also produce incredibly bad service and no consumer should have to deal with it .
3 . To See Consumer Justice Is Done
States have various laws protecting the consumer , which sometimes are ignored by business. One group legal services benefit that can be performed is correspondence .
4 . Countrywide Wants to Keep Consumers Safe
Defective products can be dangerous . When a plan member needs consumer protection advice the Countrywide attorney moves quickly . The right counsel is given as a necessary part of the group legal services provided , and options are explained patiently to the plan member.

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