WAEC Commerce Past Questions & Answers - Page 36

176.

Using symbols, letters, name or combination of these by a company to distinguish its products is

A.

product cycle

B.

marketing mix

C.

trade mark

D.

market segmentation

Correct answer is C

Trade mark is a symbol, word, or words legally registered or established by use as representing a company or product.

177.

Which of the following is not a function of Ports Authority?

A.

Providing facilities for loading and off-loading of vessels

B.

Collection of dock dues

C.

Providing enough ships for the country

D.

Dredging of harbours

Correct answer is C

Option C is not a function of ports authority. Ships can be owned by anyone 

178.

A voluntary association of business executives within a locality is known as

A.

Trade Union

B.

Consumers' Association

C.

Chamber of Commerce

D.

Trade Association

Correct answer is C

Chamber of commerce; a local association to promote and protect the interests of the business community in a particular place.

179.

Encouraging a high quality of members' products through the circulation of research information is a function of

A.

Manufacturers Association

B.

Trade Union

C.

Employers AssociationConsumers Association

D.

Consumers Association

Correct answer is A

Manufacturers Association of Nigeria also known as MAN is a trade group headquartered in Lagos. The group act as a platform that manufacturers use to influence economic, industrial, labour and social policy within Nigeria. They encouraging a high quality of members' products through the research

180.

When C.I.F is quoted on an invoice, it means that the price includes the

A.

cost of goods only

B.

cost of insurance only

C.

cost of carriage only

D.

cost, insurance and carriage

Correct answer is D

CIF means Cost, Insurance, and Freight. That is ,the seller is obligated but not restricted to : Taking care of export customs clearance formalities at origin