Waec Commerce 2013 Past Questions and Answers

Question 56:

• WAEC 2013

State two distinguishing features between each of the following;
(a) Tramps vessels and ocean liners
(b) A factor and a broker
(c) A commissioned agent and a del credere agent
(d) consular invoice and proforma invoice
(e) Insurance and assurance

Question 57:

• WAEC 2013

(a) Explain the meaning of market segmentation
(b) List and explain four factors to be considered in segmenting a market

Question 58:

• WAEC 2013

(a) Define the following terms
(i) nationalization (ii) Indigenization (iii) commercialization (iv) privatization
(b) state four reasons why government should participate in business