Day: December 9, 2020

Essentials of a warehouse Ideal location where goods are produced in greater quantity The building must be suitable and of large size appropriate to store goods efficiently Properly equipped with necessary facilities to store goods for a longer time without Read More …

Parties to a cheque. The drawer – the account holder who drafts the cheque The drawee- The bank that is to make payment. The payee – The named person who is to receive payments

Role of commercial attaches Explore new markets for more export opportunities Study and analyse markets for exports for their home countries Research and keep data for new markets Publish and advertise their countries exports Select buyers agents, agents and distributors Read More …

Services rendered by a public warehouse Provide storage facilities Serves as a place for preparation of the goods for subsequent use by a change in their condition e.g. ripening of bananas Renders a warrant which is a document of title Read More …

Sources of capital to co-operatives Membership contributions Retained profits Credit facilities Entrance fees Surplus and reserves

Characteristics of human wants They are insatiable They are habit forming They are competitive They are recurring Particular wants can be satisfied

Factors accounting for high demand of cellphones They are highly portable Convenient since the owner can be reached anywhere and anytime They are cheaper since the cost of calling a trunk call or otherwise is the same . They are Read More …

Why government sets up parastatals to provide essential services Prevent exploitation of the public by private businessmen Provide goods and services that private enterpreneurs are unwilling to venture due to low profits involved Provide large amount of capital(initial) where private Read More …

When a manufacturer sells directly to consumers When goods require sufficient after-sales services When goods are very expensive e.g. motor cars. When goods are branded and widely advertised When goods are highly fashionable with high profit margin When goods are Read More …

Role of transport Facilitates movement of materials from their source places to the factories/industries Movement of finished goods from factories to consumers Increases utility of goods and services Enhances movement of bulky goods Avoids wastage since surpluses are transferred to Read More …