EXPO::100% GCE COMMERCE OBJ AND THEORY HERE

• NO (2A) impulse buying is the buying of goods without planning to do so in advance, as a result of a sudden whim or impulse.

• • NO (6A) branding The process involved in creating a unique name and image for a product in the consumers' mind, mainly through advertising campaigns with a consistent theme. Branding aims to establish a significant and differentiated presence in the market that attracts and retains loyal customers.
  • (ii)Advantages to retailer i. To identify products that have close substitutes
    ii. it helps to arrange goods in the shelves
    (iii)Advantages to consumer i. To identify products that have close substitutes
    ii. It helps to guarantee the quality of goods to make them to reduce their demand if the quality reduces
    iii. It gives confidence to consumers on some goods of high quality
    NO (7A) i. To expand trade among countries by widening markets in the region
    ii. To improve the transport and communication system
    iii. To ensure free movement of factors of production to memeber of states by removing obstacle
    iv. To promote economic cooperation and development in the fields of industry,agriculture,science etc
    v. To foster closer relations among member countries
    NO (7B) i. To guide navigations on the niger river
    ii. To ensure the most effective utilisation of the resources of the river
    iii. To streamline the construction of dams on the niger
    iv. To undertake schemes to control floods and erosion iv. To promote studies on agricultural potentials of the river niger

3A) (i)Trade discount is issued by deduction in list price. While Cash discount is issued by deduction in payable amount of debtors.

(ii) Trade discount is given with the aim to purchase at high quantity. While Cash discount is given with the aim to get payment fastly and before payment date

(iii) Trade discount is shown as deduction in Invoice. While Cash Discount is not shown as deduction in Invoice.

NO (1A) Exchange in commerce means the means through which goods and services get to the final consumers with the help of monetary exchange It means the system whereby the producer and the consumer comes together with the sole aim of transacting a profitable business

NO (1B) i. nearness to the source of production

ii. availability of flexible transportation system

iii. accessibility of the consumer to the retailer at all time

iv. easy and accessible place of trading

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