Correct Answer: B) honest and committed leadership

Explanation

To answer this question, we need to understand what a consumers' association is and why it is important. A consumers' association is a group of people who come together to protect their rights as consumers. They work to ensure that businesses are providing safe and fair products and services, and that consumers are being treated fairly in the marketplace.

Now, looking at the options provided, option B is the correct answer. In order for a powerful consumers' association to exist, there must be honest and committed leadership. This means that the people leading the association must be trustworthy and dedicated to the cause of protecting consumers' rights. Without this kind of leadership, the association may not be effective in achieving its goals.

Option A, financial and moral support from the public, is also important for a consumers' association to be successful. The association needs the support of the public in order to have the resources necessary to carry out its work. However, this is not the most important factor in establishing a powerful consumers' association.

Option C, allocation of goods from the producers, is not relevant to the establishment of a consumers' association. This option is more related to the distribution of goods in the marketplace, rather than the protection of consumers' rights.

Option D, freedom from external influence, is also not the most important factor in establishing a powerful consumers' association. While it is important for the association to be independent and not influenced by outside forces, this is not the most critical factor in its success.

In summary, a powerful consumers' association in Nigeria requires honest and committed leadership. Financial and moral support from the public is also important, but not the most critical factor. Allocation of goods from producers and freedom from external influence are not directly related to the establishment of a strong consumers' association.

Correct Answer: D. Bureau of public enterprises

Explanation

(a) Difference between privatization and nationalization:

Privatization is the transfer of ownership and control of businesses from the state to individual whereas nationalization is the acquisition by the state of privately own, businesses

(b) A country may choose to privatize a state-owned enterprise for the following reasons:

(i) To r the company more efficient by cutting out red-tapeism and the reduction of wastage.

(ii) Conscious effort to - their profit-orientation.

(iii) To prevent government from influencing the business operation.

(iv) To liberate market and allow private investors to compete.

(v) To ensure that business is run by businessmen ar servants/efficient management.

(vi) To ensure that consumers have a choice as government ownership often result in monopoly

(vii) To relieve the government of the burden of finance.

Correct Answer: C. stale cheque

Explanation

stale cheque is a cheque that was written too long ago and that a bank may refuse to pay when someone tries to get the stated amount:

Correct Answer: A. intermediate terminal handling is eliminated by door-to-door delivery

Correct Answer: C. Nigeria Association of Chambers of commerce, industry, Mines and Agriculture

Correct Answer: D. Financial statements of the company

Correct Answer: B. chain stores

Explanation

A chain store is one of a series of shops owned by one firm and selling the same goods.

Explanation

(i)Counter Trade: This is a system of international trade where countries instead of paying cash for the goods they purchase from other countries will pay with their own goods so that the seller is forced to buy their owns goods. (This is the exchange of goods for goods in international trade).

(ii)Entrepot Trade: This is a system of trade where goods imported into a country are re-exported while the goods are still in the same form as they were received.

(iii) Import Trade:This is a system of trade where goods produced in one country are brought into another country for sale.

(iv)Invisible Trade: This is a type of international trade involving intangible products such as services or banking, shipping services which require payment of money.

(b) Barriers to International Trade:

(i) Difference in currencies pose a barrier to international trade.

(ii) Language problems in the negotiation and hiring of interpreter.

(iii) Difference in Business laws and regulations among countries.

(iv) Trade restrictions by countries being created by trading partners when they discover they have adverse balance of trade or payment such as embargoes, duties, quota, cartel.

(v) Religious/cultural problems could also act as impediments to trade.

(vi) Problems of distance also affect international trade because of the additional cost and delay in delivery.

(vii) Differences in weight and measures in different countries affect international trade.

(viii) It requires a lot of documentation.

(ix) Government policies/political differences can affect trade between two countries.

Correct Answer: D. exchange