Commerce Questions and Answers

Marine Insurance is a type of insurance designed to provide protection for the transportation of goods on water. 

The types of Marine Insurance include; 

- Freight Insurance 
- Liability Insurance
- Hull Insurance
- Marine Cargo Insurance.

A hire purchase is an agreement whereby a buyer is allowed to take possession of a product after making an initial down payment, and will only take full ownership of the product when it has been paid for in full. The payment is usually done on installment either daily, weekly, monthly, or bi-monthly

The extractive industry involves all kinds of works concerned with the extraction of natural resources from the soil, the sea, or forest e.g. farming, fishing, hunting, lumbering, mining, quarrying etc. It is also known as the primary occupation

Shares are said to be sold at a premium when it is sold for an amount higher than the nominal value. The amount in excess of the face value is the premium.

In the case, the premium is 20k

A cart is a wheel-like vehicle used for the transportation of farm produce or for the carrying of goods/loads while shopping. They are different types of carts. While the modern and most popular ones are used in shopping malls, a typical cart is usually stripped to a horse who pull them about.

It is not a form of water transportation