Correct Answer: C. certificate of origin

Explanation

A certificate of origin is simply a document that states where the product was produced, manufactured, or processed.

Correct Answer: A. giving advice on the use of a product

Explanation

Informative advertising is a sales and marketing approach that focuses on the task of attracting consumers by educating them on the nature and benefits of products, along with identifying the benefits derived from choosing to purchase those products.

Correct Answer: D. cooperative

Correct Answer: A. ratification

Correct Answer: C) Federal Environmental Protection Agency

Explanation

Out of all the options provided, the correct answer is option C - Federal Environmental Protection Agency. This agency is responsible for protecting the environment and the health of the citizens of Nigeria. One of the ways they do this is by ensuring that businesses comply with environmental regulations that protect the health and safety of consumers.

The Nigerian Bar Association and Nigerian Medical Association are professional associations for lawyers and medical professionals respectively, and do not primarily focus on consumer protection. The Manufacturers Association of Nigeria is a trade group that represents the interests of manufacturers, and not necessarily those of consumers.

It's important to note that consumer protection agencies exist to ensure that businesses treat consumers fairly and do not take advantage of them. These agencies play an essential role in ensuring that consumers are protected from fraudulent or harmful business practices.

To learn more about consumer protection agencies and their role in protecting consumers, please see the relevant sections of your Commerce textbook.

Correct Answer: B. marketing mix

Correct Answer: C. a chamber of commerce

Correct Answer: D. Nigerian association of Chambers of commerce, Industries, Mines and Agriculture

Explanation

(a) Documents used in foreign trade are: (i) Shipping note. (ii) Freight note (iii) Bill of lading (iv) Consular invoice (v) Certificate of origin (vi) Invoice (vii) Dock warrant (viii) letter of credit.

(b) An agency may be terminated under the following conditions:

(i) Subsequent impossibility: E.g. hall scheduled for a ceremony becomes burnt before the day.

(ii) By performance: If the contract is for a particular venture, at the completion of the venture.

(iii) By breach: If the agent or principal breaches the terms of the agency.

(iv) Death of principal or agent: Death of either of the parties will terminate the agency.

(v) Insanity of either party: If the principal or agent becomes incapable due to mental disability.

(vi) Bankruptcy: If the principal becomes bankrupt, the agency can be terminated.

(vii) War: If the principal and agent by virtue of geographical difference become enemies due to outbreak of war, etc.

(viii) By agreement: The principal and the agent may agree to terminate the agency.

Explanation

(a) Channel of distribution is the path which is used to move a product from the manufacturer to the consumer or industrial user.

(c) Advantages of home trade over foreign trade:

(1) Exchange is in local currency.

(2) Home trade attracts more sellers as traders have more knowledge about home market than foreign market.

(3) The question of different measures and weight does not arise in home trade.

(4) Sellers and buyers are in closer proximity than in foreign trade. / Cost of transportation.

(5) Distance. Exchange is quicker between sellers and buyers in home trade than in foreign trade.

(6) Less documentations are needed in home trade.

(7) Common official language is used in home trade.

(8) Differences in culture are minimal as against foreign trade.

(9) Less risk is involved in home trade. Hence insurance for goods is optional.

(10) Government regulations and policies is the same in local trade but differs in foreign trade.