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COMMERCE (OBJ and ESSAY) NECO 2016 Free Expo Answers For Tuesday June 14/6/2016




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Tuesday 14th june
COMMERCE (obj and essay) 10:00am-12:40pm
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COMMERCE-OBJ!
1-10: ACACBBBDEA
11-20: DADADDEDCD
21-30: BBBBBCBEED
31-40: AEBEABADED
41-50: DACAEBDBDE
51-60: CEEECCCDCC

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2a)
i)both international trade and internal trade improve the standard of living
ii)they both create employment opportunity
iii)they both use insurance provison
iv)they both uses warehouses
v)they both uses currency

2b)
TABULATE
INTERNATIONAL TRADE
i)government policy is restricted
ii)trade bamer exised
iii)foreign exchange is used as the term of payment
iv)there is big problem of language difference
v)there is difficultyin the balance of payment trade

TABLULATE
INTERNAL TRADE
i)it is free from government policy
ii)no trade bamer exist
iii)local currency is the term of payment
iv)there is a little problem of language difference
v)there is no problem of balance of payment trade
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1a)
span of control is the number of subordinates for whom a manager is directly responsible.

1b)
i)Diversity
ii)Dispersion
iii)Complex
iv)volume

i)Diversity: Diversity is all about dissimilarity of the work being supervised. There must be more effect and attention, a manager must devote to planning, organizing leading and controlling.

ii)Dispersion: The more widely separated
(geographically) the activities being
supervised; the more difficult it to plan, organize, lead and control them.

iii)Complex: The complexity of work being performed will determine the frequency with which new kind of problems arise and the difficulty of handling them. It is more difficult to plan, organize, lead and control complex work because of the breadth of knowledge and information require to do an effective job.

iv)Volume: The volume of work being performed by those being supervised will influence the manager’s ability to plan, organize, lead and control, the workers.
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3a)
i)BuyingÂ
ii)SellingÂ
iii)AdvertisingÂ
iv)CommunicationÂ
v)ProductionÂ

3b)
i)Commerce tries to satisfy increasing human wants: Human wants are never ending. They can be classified as 'Basic wants' and 'Secondary wants'.Â

ii)Commerce helps to increase our standard of living of Nigeria: Standard of living refers to quality of life enjoyed by the members of a society. When man consumes more products his standard of living improves.

iii)Commerce generates employment
opportunities: The growth of commerce, industry and trade bring about the growth of agencies of trade such as banking, transport, warehousing, advertising, etc.

iv)Commerce increases national income and wealth of Nigeria: When production increases, national income also increases. In a developed country, manufacturing
industries and commerce together accounts for nearly 80% of total national income.

v)Commerce encourages international trade between Nigeria and other countries :Through commerce we can secure a fair and equitable distribution of goods throughout the world. With the help of transport and communication development, countries canexchange their surplus commodities and earn foreign exchange, which is very useful for
importing machinery and sophisticated
technology.
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8)
i)Delivery of standard of living of Nigerians: A society is a mixture of diverse people with diverse tastes and preferences. Modern marketing always aims for customer satisfaction. So, main liability of marketing is to produce goods and services for the society according to their needs and tastes at reasonable price.

ii)Decrease in distribution cost:
marketing controls the cost of distribution. Through effective
marketing the companies can reduce
their distribution costs to a great extent.

iii)Increasing employment opportunities: Marketing comprises of advertising, sales, distribution, branding and many more activities. Also successful operation marketing activities requires the services of different enterprises and organisation such as wholesalers,
retailers, transportation, storage,
finance, insurance and advertising.

iv)Protection against business slump:
Business slump cause unemployment,
slackness in the success of business
and great loss to economy. Marketing
helps in protecting society against all
these problems.

v)Increase in national income:
Successful operation of marketing
activities creates, maintains and
increases the demand for goods and
services in society. To meet this increased demand the companies need to increase the level of production in turn raising their income.
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7a)
i)Right to safetyÂ
ii)Right to be informedÂ
iii)Right to choose
iv)Right to be heard
v)The right to satisfaction of basic
needs

7b)Â
i)Self Regulations by Business: Large business houses have realised that they can prosper and grow for a
long period of time only by giving due importance to consumers.

ii)Business Associations: Various business associations has lay down guidelines for dealing with customers.

iii)Consumer Awareness: It is not easy to exploit an educated and well aware consumer. Consumer must be well aware about his rights, responsibilities and relief available to him under consumer protection act.

iv)Consumer Organisations: Consumer organisations play an important role in educating consumers regarding their rights, duties. These organisations also help consumer to get relief in case of
exploitation.

v)Government: Government of Nigeria has framed a set of laws and legislations to protect the interests of consumers and the most important act framed by Govt,
is Consumer Protection Act.
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COMMERCE-OBJ!
1-10: ACACBBBDEA
11-20: DADADDEDCD
21-30: BBBBBCBEED
31-40: AEBEABADED
41-50: DACAEBDBDE
51-60: CEEECCCDCC








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