by Sunday | Dec 13 | Commerce JAMB
A. performance B. frustration C. an agreement D. breach Correct Answer: Option D – breach Explanation If one of the parties to a contract breaches an obligation which the contract imposes, that party is in breach of contract. one party’s failure to fulfill...
by Sunday | Dec 13 | Commerce JAMB
A. special agent B. del credere agent C. factor D. universal agent Correct Answer: Option C – factor Explanation A factor is a type of trader / agent who receives and sells goods on commission (called factorage). A factor is a mercantile fiduciary transacting...
by Sunday | Dec 13 | Commerce JAMB
A. informal contract B. formal contract C. contract of records D. specialty contract Correct Answer: Option C – contract of records Explanation A contract of record is one which has been declared and adjudicated by a court having jurisdiction, or which is...
by Sunday | Dec 13 | Commerce JAMB
A. differentiation B. segmentation C. skimming D. penetration Correct Answer: Option B – segmentation Explanation Market segmentation is the process of dividing a market of potential customers into groups, or segments, based on different...
by Sunday | Dec 13 | Commerce JAMB
A. augmented benefit B. branded benefit C. core benefit D. formal benefit Correct Answer: Option C – core benefit Explanation The fundamental need or want that consumers satisfy by consuming the product or...