1) The cost which is incurred asa result of failure to load or unload a ship at the ports within a specified period is referred to as
A. demurrage charges
B. premium charges
C. excess charges
D. trade charges2
2) The process whereby a firm directs its marketing efforts towards a single market by the use of a particular marketing mix is referred to as
A. concentration segmentation
B. market concept
C. consumer orientation
D. market penetration
3) The function of money that is mostly affected by inflation is
A. store of value
B. medium of exchange
C. measure of value
D. unit of account
4) Ordinary warehouse is usually owned and used by
A. government
B. agents
C. retailers
D. wholesalers5
5) The winding up of a firm by a resolution of its shareholders is an example of
A. voluntary liquidation
B. bankruptcy
C. recession
D. involuntary liquidation
6) Which of the following is used for temporary storage of data on a computer?
A. RAM
B. ROM
C. Floppy disk
D. flash drive7
7) An advantage of the Second-Tier Securities Market to an economy is in
A. creating avenues for investment
B. regulating competition amongst companies
C. granting financial assistance to consumers
D. increasing companies profit margins8
8) The lumbering of trees by a furniture company is an example of
A. primary production
B. secondary production
C. tertiary production
D. direct production
9) Which of the following types of occupation involues services that can be referred to as auxiliaries trade?
A. Constructive occupation
B. Manufacturing occupation
C. Industrial occupation
D. Commercial occupation1
10) The transformation of cotton into clothings is an example of
A. secondary production
B. tertiary production
C. primary production
D. direct production
