NECO Past Questions and Answers - Page 36

176.

The last link in the chain of distribution is the

A.

consumer

B.

manufacturer

C.

producer

D.

retailer

E.

wholesaler

Correct answer is A

No explanation has been provided for this answer.

177.

Brand name is used to

A.

differentiate one’s goods with others

B.

make business much easier

C.

make selling more convenient

D.

package products

E.

Standardize goods

Correct answer is A

No explanation has been provided for this answer.

178.

The term “enterprise” denotes the ability to

A.

bear risk

B.

control other factors of production

C.

maximize profit

D.

organize other factors of production

E.

plan for other factors of production

Correct answer is D

No explanation has been provided for this answer.

179.

Under utmost good faith as an insurance principle, a person must

A.

believe in the sincerity of the insurance company

B.

communicate with the insurance company

C.

disclose all material facts to the insurance company

D.

have utmost personality

E.

pay outstanding premium

Correct answer is C

No explanation has been provided for this answer.

180.

The concept that the satisfaction of the consumer's wants is to be emphasized at all stages of production and distribution is known as consumer...........

A.

autonomy

B.

independence

C.

preferential

D.

production

E.

sovereignty

Correct answer is E

No explanation has been provided for this answer.