Benefits of insurance to an economy: (i) It is a safeguard against the numerous risks to which capital is exposed.…
Conditions for a valid contract: (i) An offer must be made: This means that one party must propose that an…
Credit is an arrangement whereby the seller agrees to let the buyer take delivery of the goods with a promise…
Problems associated with foreign trade: (i) Language difference: There is need for an interpreter when selling to countries speaking different…
Documents used in international trade: (i) An indent (ii) Shipping note (iii) Calling forward notice (iv) Freight note (v) Bill…
Three reasons against branding: (i) Too many brands confuse the consumers (ii) Branding may lead to monopoly. (iii) Branded goods…
Reasons for branding: (i) Memory recall is facilitated. This leads to greater frequency of buying and brand loyalty. (ii) Advertising…
Branding is the act of giving distinctive name or label to a product. It helps in creating, stimulating and maintaining…
Commerce is the distribution of goods and services and including all the ancillary services that make mass distribution possible OR…
Importance of commerce to an economy are: (i) Exchange of goods and services: Commerce facilitates exchange of goods and services…