Correct Answer: C. The Central Bank of Nigeria

Explanation

(a) REASONS FOR WHICH MANUFACTURERS ADVERTISE THEIR PRODUCTS

(i) It is used to make customers aware and familiar with a product.

(ii) It can be used to introduce a new product in the market.

(iii) It can be used to snatch customers from rival businesses and also prevent existing customers from patronizing the rivals.

(iv) It increases the demand for a product.

(v) Branding is made effective through advertising/Maintain brand loyalty.

(vi) It encourages large scale production by creating mass markets.

(vii) it helps to improve the quality of the product being advertised.

(viii) It helps to educate members of the public on the special features of the products.

(ix) It promotes the image of the manufacturer.

(b) CRITICISM OF ADVERTISING

(i) It adds to the cost of the product.

(ii) It may mislead consumers by making false claims about a product.

(iii) It encourages waste by making consumers buy what they do not actually need.

(iv) It encourages domination of the market by a few big firms that advertise more to the detriment of small firms/ Leads to monopoly.

(v) It perverts the youth by constantly showing falsely glamorous images making them discontented as they cannot live up to those images.

(vi) Some advertisements on commodities like cigarettes, encourage people to consume what is harmful

Correct Answer: C. cash discount

Explanation

2%/15 net 30 means that if the customer pays within 15 days of receiving the goods, he may take 2% off the amount stated in the invoice, if does not, he will have to pay the full stated in the invoice within 30 days.

Correct Answer: B. the sale of shares

Correct Answer: A) directives

Explanation

The correct option is A: directives. Directives are instructions or orders given by someone in authority. In this case, the Central Bank provides directives to commercial banks to guide them on how to set their lending policies.

The other options are not correct for this question. Option B, moral suasion, refers to the use of persuasion or moral influence to encourage certain behavior. Option C, advisory notes, are recommendations or suggestions given for consideration. Option D, consolidation, refers to the process of combining multiple things into a single, unified entity.

In summary, the recommendation made by the Central Bank to commercial banks regarding their lending policy is known as directives. The Central Bank provides instructions and guidance to the commercial banks on how they should lend money.

Correct Answer: D. current accounts

Correct Answer: D. producer and consumer goods

Correct Answer: A. rail

Correct Answer: A. factors of production

Explanation

(a) Nationalization; is the act of bringing an industry or part of it under exclusive state ownership and control. In this case, the government is the only shareholder. However, indigenization is a policy initiative designed to accelerate the greater participation of Nigerians in the ownership and management of business enterprises in Nigeria. Here, individuals hold majority shares or are the only shareholders.

(b) Advantages of Nationalization are:

(i) It ensures the provision of social services at affordable cost.

(ii) It may lead to rationalization and elimination of waste.

(iii) Nationalization is an effective instrument for checking exploitation by foreigners.

(iv) It gives the government the opportunity to control strategic industries.

(v) It ensures the steady supply of essential services.

Objectives of Indigenization are:

(i) To promote industrialization through the use of indigenes and indigenous means.

(ii) To reduce foreign dominance of the economy.

(iii) To ensure greater participation of indigenes in the ownership and control of business enterprises.