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Pregunta 1 Informe
Detalles de la respuesta
The temporary working area of the control processing unit is called RAM, which stands for Random Access Memory. RAM is a type of memory that the computer uses to store data and programs that are currently in use. When the computer is turned off, the data stored in RAM is lost. This is why it is called "temporary" memory. In contrast, ROM, which stands for Read-Only Memory, is a type of memory that permanently stores data and programs even when the computer is turned off.
Pregunta 2 Informe
In Nigeria, the ministry in charge of registering trade association is that of
Detalles de la respuesta
In Nigeria, the ministry in charge of registering trade associations is the Ministry of Trade and Industry. This ministry is responsible for the formulation and implementation of policies and programs that promote the development of trade, commerce, and industry in the country. The Ministry of Trade and Industry works to create an enabling environment for businesses to thrive, by providing support services and developing policies that facilitate trade and commerce. The ministry is also responsible for promoting the development of micro, small, and medium-sized enterprises (MSMEs) in the country. MSMEs play a crucial role in the Nigerian economy, contributing significantly to job creation and economic growth. The Ministry of Trade and Industry works to support these businesses by providing access to finance, technical assistance, and other resources that can help them to grow and compete in the global marketplace. In summary, the Ministry of Trade and Industry is the government agency in Nigeria that is responsible for registering trade associations. This ministry works to promote the development of trade, commerce, and industry in the country, and to support the growth of MSMEs.
Pregunta 3 Informe
Services which are of absolute monopoly can best be provided by?
Detalles de la respuesta
Services which are of absolute monopoly can best be provided by public enterprises. When a service is an absolute monopoly, it means that only one entity can provide that service due to various factors such as high barriers to entry, legal regulations, or exclusive ownership of resources. In such cases, private companies may not be able to enter the market and compete effectively, as they may lack the necessary resources or expertise to provide the service. On the other hand, public enterprises are owned and operated by the government, which can help ensure that the service is provided fairly and efficiently. Public enterprises can also prioritize the needs of the public over profit maximization, which can be especially important for services that are essential to the well-being of citizens. However, it's important to note that the effectiveness of public enterprises can vary depending on the specific context and the quality of governance. In some cases, private companies or other forms of ownership may be better suited to provide certain services, especially if there is competition and proper regulation in place to prevent abuses of power.
Pregunta 4 Informe
The satisfaction of consumer is best explained by
Detalles de la respuesta
The satisfaction of a consumer can be best explained by the marketing concept. The marketing concept is a business philosophy that focuses on identifying and meeting the needs and wants of consumers. It involves understanding the target market and delivering superior value to them by providing high-quality products or services that meet their needs and wants. By adopting the marketing concept, a business can tailor its products or services to the specific needs of its customers, and this can lead to higher levels of customer satisfaction. In turn, satisfied customers are more likely to become loyal customers and spread positive word-of-mouth about the business, which can ultimately lead to increased sales and profits. While product mix, marketing mix, and market segmentation are all important components of a business's overall marketing strategy, they are all ultimately aimed at achieving the marketing concept - delivering value to customers.
Pregunta 5 Informe
What is a Quota?
Detalles de la respuesta
A quota is a physical restriction that a government or an organization imposes on the quantity of goods that can be imported or exported from a country or a region. It is a limit on the number of goods that can be traded, usually to protect domestic industries from foreign competition or to regulate the flow of goods. For example, a country might impose a quota on the number of cars that can be imported in a year, or limit the amount of sugar that can be exported. This means that once the quota limit is reached, no more goods of that type can be imported or exported until the next period. Quotas can be used to manipulate the supply and demand of goods in a market, affecting their prices and availability.
Pregunta 6 Informe
One of the principles of insurance is
Detalles de la respuesta
The principle of insurance that I would like to explain is "proximate cause." Proximate cause is a fundamental principle of insurance that states that for a loss to be covered by insurance, it must be caused by an event that is covered by the insurance policy. In other words, the cause of the loss must be directly related to a specific peril or risk that is covered by the insurance policy. For example, if you have a car insurance policy that covers damage caused by collisions, and your car is damaged in a collision with another vehicle, the proximate cause of the damage is the collision, and the loss should be covered by your insurance policy. On the other hand, if your car is damaged by a hailstorm, which is not covered by your collision insurance, the proximate cause of the damage is the hailstorm, and the loss may not be covered by your insurance policy. In summary, the principle of proximate cause is essential to ensure that insurance policies cover only the specific risks and perils that they are designed to cover, and not unrelated losses.
Pregunta 7 Informe
The agency in Nigeria which ensures that products conform with government quality specifications is the?
Detalles de la respuesta
The agency in Nigeria that ensures that products conform with government quality specifications is the Standard Organisation of Nigeria (SON). The Standard Organisation of Nigeria is a regulatory body that is responsible for setting standards for products, services, and systems in Nigeria. They ensure that products meet the required quality specifications and are safe for consumers to use. SON is tasked with the responsibility of inspecting goods produced both locally and imported into Nigeria to make sure that they meet the quality and safety standards set by the Nigerian government. In summary, if you want to make sure that a product you're buying or producing meets the required quality standards in Nigeria, the agency to contact is the Standard Organisation of Nigeria (SON).
Pregunta 8 Informe
On liquidation of a public limited liability company, the residual owners are the?
Detalles de la respuesta
When a public limited liability company is liquidated, its assets are sold to pay off its debts and obligations. Any money remaining after all the debts have been paid is called the residual value or the residual assets. The residual owners of a company are the owners who are entitled to this residual value. In a liquidation scenario, the residual owners of a company are the ordinary shareholders. They are the last in line to receive any payment, after the creditors, debenture shareholders, and preference shareholders have been paid. Ordinary shareholders are considered residual owners because they are the owners who have invested in the company's equity, and they only receive payment after all other obligations have been fulfilled. To put it simply, when a public limited liability company is liquidated, the residual owners who are entitled to any money left over after all debts and obligations have been paid are the ordinary shareholders.
Pregunta 9 Informe
The board of directors of public enterprise is appointed by who?
Detalles de la respuesta
The board of directors of a public enterprise is typically appointed by the shareholders. Shareholders are the owners of the company and have the right to elect the people who will oversee the management of the company and make decisions on behalf of the shareholders. The board of directors is responsible for setting the overall strategy of the company, making major decisions such as appointing senior management, and ensuring that the company is managed in a way that is in the best interests of the shareholders.
Pregunta 10 Informe
In the law of contact, a counter offer operates as
Detalles de la respuesta
A counter offer operates as a rejection. In the law of contract, a counter offer is a response to an original offer that changes the terms of the agreement. It acts as a rejection of the original offer and a new offer from the person making the counter offer. Until the new offer is accepted, there is no contract. So, if you receive a counter offer, it means that the person you made the original offer to is not accepting it as it is, but instead, they are proposing new terms for the agreement.
Pregunta 11 Informe
The business organisation in which shareholders have equal votes is?
Detalles de la respuesta
The business organization in which shareholders have equal votes is a cooperative. In a cooperative, each shareholder is typically given one vote, regardless of the number of shares they own. This means that each shareholder has an equal say in the decision-making process of the organization, which is different from other types of businesses where the number of votes is often proportional to the number of shares owned. Cooperatives are businesses that are owned and run by their members, who may be customers, employees, or other stakeholders. They are typically formed to meet the common needs and aspirations of their members, and they operate according to principles of democratic control and participation. In addition to giving each member an equal say in the organization, cooperatives often distribute profits among their members in proportion to their participation in the business.
Pregunta 12 Informe
Which of the following is a verbal means of communication
Detalles de la respuesta
The verbal means of communication is a type of communication that involves the use of words, either spoken or written, to convey a message from the sender to the receiver. Out of the options provided, the verbal means of communication is the telephone. The telephone allows people to communicate verbally with each other in real-time, which means that they can have a conversation back and forth immediately. This type of communication is useful when people need to discuss complex or sensitive issues, or when they need to get immediate feedback or clarification. In addition, the telephone can help to build relationships between people and can create a more personal connection than other forms of communication, such as email or text messaging. By contrast, express mail, business reply services, and telex are all written means of communication. Express mail and business reply services are both used to send physical documents and packages, while telex is an older technology that used a network of teleprinters to send written messages over long distances. Overall, while all of these means of communication can be useful in different situations, the telephone is the best option for verbal communication.
Pregunta 13 Informe
An arrangement by independent firms to share the market of their products on quota basics Is referred to as
Detalles de la respuesta
The arrangement by independent firms to share the market of their products on a quota basis is called a cartel. In a cartel, companies come together and agree to limit the amount of their product that they sell, in order to reduce competition and maintain higher prices. For example, imagine there are three companies that make the same product. Normally, they would compete with each other by trying to offer the best price or quality. But if they form a cartel, they would agree to limit the amount of their product that they sell, and each company would be assigned a specific quota. This would reduce competition and allow them to charge higher prices because there would be less supply in the market. Cartels are usually illegal because they violate antitrust laws that prohibit companies from colluding to artificially control prices or limit competition. However, some cartels may operate legally in certain countries or industries with government approval.
Pregunta 14 Informe
When a vendor supplies news papers from house to house and across the streets, the element of marketing mix involved is?
Detalles de la respuesta
The element of marketing mix involved in the scenario you described is "place." This is because the vendor is focused on the distribution and delivery of the newspapers to the intended audience, which involves choosing the right locations and routes to reach the maximum number of customers. In marketing, "place" refers to the distribution channels and methods used to get a product or service to the customers who need it. In this case, the vendor is delivering newspapers directly to people's homes and across the streets, which is a specific distribution strategy designed to make the product easily accessible to potential buyers. The vendor may choose certain locations based on factors such as population density, customer demand, and accessibility. While other elements of the marketing mix, such as the product (newspapers), price, and promotion, may also play a role in this scenario, the primary focus is on getting the product to the customer's doorstep, which falls under the "place" element of the marketing mix.
Pregunta 15 Informe
One of the disadvantages of rail transport is
Detalles de la respuesta
One of the disadvantages of rail transport is that it is not as flexible as other modes of transportation, such as road and air transport. This means that rail transport is limited in terms of the routes it can take and the places it can go to. It is also difficult to make changes to the rail network or to adjust rail schedules, which can make it less convenient for some types of shipments. Additionally, because rail transport is limited to a specific set of tracks, it is not as easy to reach remote or less accessible areas as it is with other modes of transportation.
Pregunta 17 Informe
A form of ownership which exploits the strenght of one partner to remedy the weakness of the other is the?
Detalles de la respuesta
Pregunta 18 Informe
Transportation, retailing and wholesaling industries rely heavily on?
Detalles de la respuesta
Pregunta 19 Informe
What’s the first form an applicant must complete before taking an insurance policy?
Detalles de la respuesta
The first form an applicant must complete before taking an insurance policy is the proposal form. This is a document that provides information about the applicant and the property or risk being insured. The proposal form is used by the insurer to assess the risk associated with the policy and to determine the premium that the applicant will be charged. The proposal form typically includes questions about the applicant's personal information, such as name, address, and occupation, as well as details about the property or risk being insured. For example, if the applicant is seeking a home insurance policy, the proposal form may ask about the age and condition of the home, its location, and any previous insurance claims made by the applicant. It's important for applicants to provide accurate and complete information on the proposal form, as any inaccuracies or omissions could affect the insurer's assessment of the risk and the terms of the policy. Once the proposal form is completed and submitted to the insurer, the insurer will review the information and decide whether to offer coverage and at what premium.
Pregunta 20 Informe
A person who undertakes any risk in insurance business is known as ?
Detalles de la respuesta
The person who undertakes any risk in insurance business is known as an underwriter. An underwriter is responsible for evaluating the risk associated with insuring a particular person, asset or event, and determining the appropriate premium to charge for that risk. They assess a variety of factors such as the likelihood of a claim being made, the potential cost of that claim, and the insurer's ability to cover the cost. Based on this analysis, the underwriter decides whether or not to accept the risk and issue an insurance policy, and at what price. In other words, an underwriter is like a risk manager for an insurance company. They are responsible for ensuring that the company only takes on risks that it can handle, and that the premiums charged are sufficient to cover any potential losses. Without underwriters, insurance companies would not be able to accurately assess risk, and may be more likely to experience financial difficulties or even failure.
Pregunta 22 Informe
A pro forma invoice is sent to inform a buyer about the?
Detalles de la respuesta
A pro forma invoice is sent to inform a buyer about the price of goods. A pro forma invoice is a document that is used in international trade to provide a buyer with an estimated cost of goods and services before the actual transaction takes place. It is not a legally binding document and does not require payment. Instead, it is used as a tool to help the buyer plan and prepare for the final purchase. The pro forma invoice typically includes information about the price of the goods, such as the unit price and the total cost. It may also include information about any taxes, duties, or other charges that may be associated with the purchase. In addition, it may include information about the payment terms, such as the due date and the method of payment. While a pro forma invoice may include some information about the quantity, designation, and quality of the goods, its primary purpose is to provide the buyer with an estimate of the price. This information can be helpful in determining whether the buyer is interested in making the purchase, and can also be used to plan for any necessary financing or budgeting.
Pregunta 24 Informe
The main objective of corporate mergers is to?
Detalles de la respuesta
The main objective of corporate mergers is to enhance economies of scale. When companies merge, they can combine their resources, reduce duplication of efforts, and operate more efficiently. This can lead to cost savings, improved productivity, and increased profitability. By merging, companies can also expand their market share, increase their bargaining power, and access new technologies or products. While mergers can also provide financial advantages, such as increased revenue or reduced costs, the primary goal is to create a stronger, more competitive business entity through economies of scale.
Pregunta 27 Informe
From which of the following sources can partnership increase their capital?
Detalles de la respuesta
Partnership can increase their capital through the admission of new partners and the sales of shares. When a new partner joins the partnership, they bring in additional capital, which increases the overall capital of the partnership. Similarly, when shares in the partnership are sold, it generates additional capital which also increases the total capital of the partnership. Discharging a mortgage or receiving grants from relatives may not directly increase the capital of the partnership, but they can improve the financial position of the partnership and make it easier for the partnership to raise capital in other ways.
Pregunta 28 Informe
What do we call agreement between two people enforced by law?
Detalles de la respuesta
The agreement between two people that is enforced by law is called a contract. A contract is a legally binding agreement between two or more parties who have agreed to do something or refrain from doing something in exchange for something of value, known as consideration. For a contract to be valid, there must be an offer made by one party, acceptance of that offer by the other party, and consideration exchanged between the parties. The terms of the contract must be clear and unambiguous, and the parties must have the legal capacity to enter into the agreement. Once a contract is signed, both parties are obligated to fulfill their respective obligations, and if either party breaches the terms of the contract, the other party may seek legal remedies.
Pregunta 29 Informe
One of the obstacles to achieving the objectives of ECOWAS is?
Detalles de la respuesta
One of the obstacles to achieving the objectives of ECOWAS is the issue of language differences. ECOWAS, which stands for the Economic Community of West African States, is a regional economic organization made up of fifteen West African countries. Its primary goal is to promote economic cooperation and integration among member states, with the aim of creating a unified economic market in the region. However, one major obstacle to achieving this goal is the language differences among member states. West Africa is a linguistically diverse region, with over 2,000 different languages spoken. English, French, and Portuguese are the three official languages of ECOWAS, but many other languages are also spoken in the region. This diversity in languages creates communication challenges for member states, which can make it difficult to coordinate and implement policies and initiatives. It also makes it harder to build a shared regional identity and culture, which is a key component of creating a unified economic market. In conclusion, language differences are an obstacle to achieving the objectives of ECOWAS, as they can hinder communication, coordination, and the development of a shared regional identity.
Pregunta 30 Informe
An organization which focuses on consumers satisfaction is practicing
Detalles de la respuesta
The organization that focuses on consumer satisfaction is practicing the marketing concept. The marketing concept is a business philosophy that emphasizes meeting the needs and wants of customers while achieving the organization's goals. It involves researching and understanding the needs of target customers, developing products and services that meet those needs, and then promoting and distributing those products effectively. By focusing on consumer satisfaction, the organization is prioritizing the customer's needs and aiming to provide them with the best possible experience. This approach is in contrast to the selling concept, which focuses more on pushing products onto customers regardless of their needs or wants. Similarly, consumerism is a social movement that advocates for the rights and protection of consumers, while market segmentation is a strategy of dividing a market into smaller groups of customers with similar needs and characteristics for targeted marketing efforts.
Pregunta 31 Informe
The factors which critically determines the choice of occupation is
Detalles de la respuesta
Pregunta 32 Informe
One of the criteria for differenciating consumer markets from industrial ones is the?
Detalles de la respuesta
Pregunta 34 Informe
Warehousing is a productive function because it increases the?
Detalles de la respuesta
Warehousing is a productive function because it increases the utility of goods. Utility refers to the satisfaction or usefulness that consumers derive from using a product. Warehousing increases utility in several ways. First, it allows for better timing of product delivery, ensuring that goods are available when they are needed. This improves customer satisfaction and reduces the risk of lost sales. Second, warehousing can help to improve product quality. Goods can be stored in a controlled environment that is protected from damage, theft, and other hazards. This helps to maintain the quality of the products and ensures that they remain in good condition until they are ready for sale. Third, warehousing enables businesses to take advantage of economies of scale. By purchasing and storing goods in bulk, they can often obtain better prices from suppliers. This can help to reduce costs and increase profitability. Overall, warehousing is an essential part of the supply chain and plays a crucial role in improving the utility of goods, which ultimately benefits both businesses and consumers.
Pregunta 35 Informe
Goods and services are made available to consumers through
Detalles de la respuesta
Pregunta 36 Informe
The three components of staffing are?
Detalles de la respuesta
The three components of staffing are recruitment, selection, and placement. Recruitment involves the process of identifying and attracting qualified individuals to apply for a job vacancy. This can be done through advertising, job fairs, and networking. The goal is to create a pool of potential candidates. Selection involves the process of evaluating the pool of candidates and determining which ones have the necessary qualifications, skills, and experience to perform the job. This can involve various methods such as interviews, tests, and reference checks. Placement involves the process of assigning the selected candidate to the job for which they were hired. This can involve orientation and training to ensure that the candidate is equipped to perform the job successfully. The goal is to ensure that the candidate is a good fit for the organization and can contribute to its success. Overall, these three components are critical for ensuring that an organization has the right people in the right positions to achieve its goals.
Pregunta 37 Informe
A merchant wholesaler is referred to as?
Detalles de la respuesta
A merchant wholesaler is a person or a company that buys goods in large quantities from manufacturers and sells them in smaller quantities to retailers or other businesses. They act as intermediaries between the manufacturers and retailers, helping to bridge the gap between the two. Out of the options given, a merchant wholesaler is not a del-credere agent, a broker, or a factor. A del-credere agent is a type of agent who guarantees payment to the seller in case the buyer defaults. A broker is a person or a firm that arranges transactions between buyers and sellers, but they do not take ownership of the goods themselves. A factor is a person or a company that buys accounts receivable from businesses at a discount and then collects the full amount owed by the customers. A rack jobber, on the other hand, is a type of merchant wholesaler who specializes in managing and merchandising inventory for retailers. They typically provide display racks, restock merchandise, and maintain inventory levels at retail locations. Rack jobbers usually earn a commission on the sales made by the retailer, and they are responsible for managing the inventory risk. In summary, a merchant wholesaler is a type of intermediary who buys goods in large quantities from manufacturers and sells them in smaller quantities to retailers or other businesses, while a rack jobber is a specific type of merchant wholesaler who specializes in managing and merchandising inventory for retailers.
Pregunta 38 Informe
The elements in marketing mix that ensures goods are available when and where needed is
Detalles de la respuesta
The element in the marketing mix that ensures goods are available when and where needed is "place". In marketing, "place" refers to the distribution of a product to its customers. It involves making the product available in the right location, at the right time and in the right quantity to meet customer demand. For example, if a customer wants to buy a specific product, they expect to find it easily in a store near them, and not have to go out of their way to find it. This means that the product needs to be available in multiple retail locations, and be restocked regularly to ensure it is always in stock when a customer wants to purchase it. In summary, the "place" element of the marketing mix involves ensuring that the product is distributed effectively to meet customer demand, and making it available at the right place, at the right time, and in the right quantity.
Pregunta 39 Informe
A title, symbol, or design that distinguishes a company is called
Detalles de la respuesta
The title, symbol, or design that distinguishes a company and its products or services from others is called a "trademark." It is a recognizable symbol or sign that represents a company's identity and helps consumers identify and differentiate the company's offerings from its competitors. A trademark can be a word, phrase, symbol, design, or a combination of these elements. It can be registered with the government to provide legal protection against unauthorized use by others. This means that other companies cannot use the same or similar mark to sell their products or services, which could cause confusion among consumers. In summary, a trademark is a valuable asset that companies use to protect their brand identity and to ensure that their customers can easily recognize and trust their products or services.
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