Correct Answer: D. comparative advantage

Correct Answer: B. secondary and primary market

Correct Answer: D. protection against risks

Correct Answer: A. packaging and branding

Correct Answer: D. enabling firms to wind-up quickly in times of difficulties

Correct Answer: B) Itinerant trading

Explanation

Mailorder, Option A, refers to a method of buying and selling where orders are placed through mail or online and the goods are delivered to the customer's address. This does not involve traveling from place to place on foot.

Barter, Option C, is a type of trade where goods or services are exchanged directly without the use of money. It does not involve traveling from place to place on foot.

Self-service, Option D, refers to a retail method where customers select and purchase goods themselves without the assistance of a salesperson. This also does not involve traveling from place to place on foot.

Therefore, the correct option is B: Itinerant trading.

Correct Answer: C. Invoice

Correct Answer: A. del credere

Explanation

A del credere agency is a type of principal-agent relationship wherein the agent acts not only as a salesperson or broker for the principal, but also as a guarantor of credit extended to the buyer.

Correct Answer: B. nationalization

Explanation

(a) The rights of an unpaid seller of goods include:

(I)Right to retain goods:The seller has a right to retain the tl possession of the goods if not paid for.

(ii)Right of stoppage in transit:The seller has the right to stop the goods going t2 to the buyer in order to regain and retain the possession of the goods until he is paid.

(iii)Right of resale:The seller t2 has the right to resell the goods especially perishables when he has notified the defaulting buyer who, despite the notice still failed to pay.

(iv) Legal action: The seller has the right to sue the buyer for the price of the goods if the buyer has '-1 taken possession of the goods.

(v)Recovery of possession from the buyer: An unpaid seller has the right to recover the goods already delivered to the buyer.

(vi)Issue of ultimatum: Unpaid seller has rights to give ultimatum to the I5 buyer compelling him to pay.

(b) The duties of an agent to the principal are

(i) He must obey or carry out all lawful instructions by the principal.

(ii) He has to exercise reasonable care, skill and diligence in performing his duties.

(iii) He must act in good faith and honesty by not engaging in any competing business to the detriment of the principal.

(iv) He must act personally, i.e., he must not delegate his duties as an agent to someone else.

(v) He must not misuse the confidential information in respect to the affairs of the principal.

(vi) He must render an account (i.e. stewardship) to the principal whenever required.

(vii) He must not take any secret gain beyond the authorised commission and any other remuneration.