Commerce Questions and Answers

Major problems facing the Economic Community of West African States, or ECOWAS, include political instability and poor governance of member states, weakness and lack of diversification of national economies, poor or absent infrastructures for transportation and communications, and an abundance of similar organizations with the same objectives. 

Random-access memory;is a form of computer data storage that stores data and machine code currently being used. A random-access memory device allows data items to be read or written in almost the same amount of time irrespective of the physical location of data inside the memory. it is a temporal storage device example is the harddisk

The efficient management of warehouses helps to optimise the existing production and distribution processes and greatly assist in the goal of cost reduction and service enhancement. Warehousing network plays a major role in the success of the physical distribution of products. A warehouse provides a central location for receiving, storing and distributing products. its needs and importance include;

1. quality of goods
2. regular supply
3. stock of trade
4. price stability
5. seasonal products
6. perishable goods
7. continous production

A pro forma invoice is a preliminary bill of sale sent to buyers in advance of a shipment or delivery of goods. The invoice will typically describe the purchased items and other important information such as the shipping weight and transport charges. Pro forma invoices streamline the sales process. Your customer agrees to the price on the pro forma invoice, and then you deliver the goods. There’s no back and forth after you’ve fulfilled your end of the bargain as it’s all agreed up front.

merchant wholesaler is an entity that purchases products, takes title of them, and then sells them (generally to retailers, other wholesalers, and industrial consumers) Merchant wholesaler is the intermediary between the producer and the retailer.

A Factor. People who are employed by others to sell or purchase goods, who are entrusted with possession of the goods, and who are compensated by either a commission or a fixed salary. A factoris a type of agent who sells goods owned by another, called a principal.