NECO COMMERCE ANSWER

/25, 11:28 AM] Exam Clever Dito Dito Runz: *Commerce Obj*

1-10: ACAEDABDAC

11-20: EBEDEDCDBC

21-30: ADAABCDBAC

31-40: BADBEEEBCD

41-50: EAEECDECED

51-60: CBEBADEBBB

Completed💯💯💯

[6/25, 10:55 AM] Exam Clever Dito Dito Runz: 1

1(a) Multilateral trade is a type of international trade in which a country trades with many other  countries. This ensures international division of labour.

1(b)
(i) foreign trade involves the exchange of goods and services across national frontiers while internal trade involves the exchanges of goods  within the borders of a county
(ii) In foreign trades, buyers and sellers use different currencies where as buyers and sellers in home trade use the same type of currency
(iii) There is possibility of restriction tariffs,import duties ,export duties ,quotas,embargoes when goods are exchanged across national boundaries while this does not occur in the home trade
(iv)There are also differences in legal systems and culture under international trade but the legal system are the same in domestic trade
(v)foreign trade requires knowledge of new languages and interpretations while in domestic trade ,a common language is used
(vi)differences in transport cost due to distance between buyers and sellers,documentation requirement ,need for insurance in respect of foreign trade distinguish foreign trade from home trade

1(C)
(i) Nigeria
(ii)USA
(iii)Japan
(Iv)Britain
[6/25, 10:55 AM] Exam Clever Dito Dito Runz: (2a)
(i) Direct production is the type of production in which an individual produces good and services only for family use or consumption
(ii) Indirect production is the type of production in which goods and services are produce in large scale, mainly for sales or exchange for other needs

(2b)
(i) Availability of goods and services:- production helps to ensure that goods and services are made available for use by human beings
(ii) Improvement in standard of living:- production helps to ensure adequate improvement of the standard of living of the people
(iii) Provision of employment:- continuous production ensures the employment of many people
(iv) Increase In export potential:- Production also assists a state or nation to boost her export of goods and services to other nations.
================================


(5a) Money can be define as any thing that is generally acceptable as a medium of exchange and in the settlement of debts

(5b)
(i) money is generally acceptable while other commodities are not
(ii) money is portable while other commodities may not be portable
(iii) money is durable while commodities are not
(iv) money is relatively scarce while other commodities are not
(v) money is stable while other commodities are not
(vi) money can serve as a store of value while other commodities cannot

(5c)
(i) Acceptance Of deposit
(ii) Agent Of Payment
(iii) Lending Of money
(iv) Sage Keelung Of valuables

==============================
(6)
(i) Risk bearing
(ii) Financing
(iii) Warehousing
(iv) Transportation
(v) Pricing

(i) Risk bearing:- this is taking of risk and appropriate measure to reduce the risk by taking necessary insurance cover
(ii) Financing:- This is the provision of Find from the production point to the point of sale
(iii) Warehousing:- This is the provision of facilities to make it possible for goods to be produce ahead of demand
(iv) Transportation:- This is the movement of goods and services from where they are been produce to where they are needed.
[6✅