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(1a)
(i) No payment of rent
(ii) It is Door to Door service
(iii) Small capital is involve to set up
(iv) Consumable goods are sold majorly
(1b)
-Land is a free gift of nature and also a place
where every other factors of productions take
place.
-labour is both mental and physical input on the
factors of production
-capital is the amount invested in the factor of
production
-enterpreneur is the person responsible to
supervise all other factors of production
2a)
-There is perpetual erxistence or
continuity.Death of a member cannot bring the
organisation to an end
-It is registered as a limited liability.Members
liability is limited to the shares held
-It is democratic in nature
-Profit is shared based on patronage
ii) Mail order business
-It is shopping by post
-It is perculiar with cash on delivery
transactions and cash with order terms of
payment
-Goods are delivered at the buyer’s destination
-Packages are usually to customer’s tastes
2b).
-By expiration of agreement:where theb
patnership is entered into for afixed period of
time,it is assumed dissolved at the expiration of
the fixed date
-Bankrupty of a patner:Patnership will be
dissolved when one of the patners is bankrupt
-Insolvency of the business:when the business
cannot meet its obligations
-Deathof as patner:The death of a patner will
bring the business to anend
-Insanity of a patner:If one of the patners
become insane the remaining patners can apply
to to the court for dissolution
4a)Consignment note
Document prepared by a consignor and
countersigned by the carrier as a proof of
receipt of consignment for delivery at the
destination. Used as an alternative to bill of
lading (specially in inland transport), it is
generally neither a
contract of carriage nor a negotiable instrument
4b)
delivery note
A document accompanying a shipment of goods
that lists the description, and quantity of the
goods delivered.
4.c
What is a ‘Bill Of Lading’
A bill of lading is a legal document between the
shipper of goods and the carrier detailing the
type, quantity and destination of the goods
being carried.
4d)Bill of sight
Documented request (on a prescribed form) by
an importer to custom authorities for
permission to examine the shipment that has
arrived, without a full set of documents or
without full particulars. The importer’s
objective is to be able to submit a ‘perfect’ bill
of entry after ascertaining the nature,
ownership, and estimated value of the.
(5a)
-Settlement of Debt
-medium of exchange
-unit of account
-store of value.
(5b)
-It is saver to carry cheque than cash
-It is easy for drawer to stop payment so as to
prevent fraud
-Cheque can serve as a receipt and a proof of
payment
-It is more convenient to carry chque about than
cash
-cheque help to economise in the use of
currency notes and coins
-Cheque counterfoil slip can be used by drawer
for proper payment and receipt
7b)
1) Marketing Helps in Transfer, Exchange and
Movement of Goods:
(2) Marketing Is Helpful In Raising And
Maintaining The Standard Of Living Of The
Community:
(3) Marketing Creates Employment:
(4) Marketing as a Source of Income and
Revenue:
(5) Marketing Acts as a Basis for Making
Decisions:
(6) Marketing Acts as a Source of New Ideas
Completed……
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