Correct Answer: C. The West African Currency Board

Correct Answer: B. stock

Correct Answer: D. cheque

Correct Answer: A. Lake Chad Basin Commission

Explanation

(a) Market segmentation refers to the division of a market into identifiable sub-markets/groups. This enables the marketer to reach each submarket with the most appropriate blend of marketing variables/mix.

(b) Factors that influence market segmentation:

(i) Population density/Demographic /Occupation

(ii) Usage

(iii) Age of consumers

(iv) Sex of consumers

(v) Income level of consumers

(vi) Educational attainment of consumers

(vii) Social class/status of consumers

(viii) Cultural background of consumers

(ix) Religious beliefs

(x) Buyer— behaviour/Tastes

(xi) Geographic/Weather/Climatic factor

(c)Advantages of Advertising:

(i) It promotes sales by stimulating demand of a product.

(ii) It creates awareness about the availability of goods and services.

(iii) It educates the consumers on the use of product.

(iv) It helps to improve quality of goods and services as a result of healthy competition.

(v) It leads to mass production by creating a wider market.

(vi) It boosts and sustains company's image.

(vii) It helps in developing brand loyalty.

(viii) It is used to launch new products.

(ix) It creates employment opportunities.

Correct Answer: B. Practices self service

Explanation

(a)(i)Limited liability:Means that members' loss in the business is limited to the amount of capital they had contributed.

(ii)Separate legal entity: Means that the business has a legal existence different from the owners./ Ownership of the business is separate from management./The company can sue and be sued.

(iii)Certificate of Incorporation: This is the document issued by the Registrar of companies certifying the legal existence of a company after certain legal requirements for registration have been met. It gives the company a legal existence.

(iv)Participating preference shares:Holders of these shares have further claim on profits, after the ordinary shareholders have received a specific amount of dividends.

(v)Ordinary shares:These are known as equities. / The holders have a last claim on the assets or profits of the company. / They carry the greatest risk in business.

(b) Advantages of Public Corporations:

(i) They provide essential services to the populace e.g. water and light. / Improve the standard of living.

(ii) They provide employment opportunities.

(iii) Government runs them instead of leaving them in the hands of private monopolies to make their services affordable.

(iv) They enable the government and its agencies to control strategic industries in an economy.

(v) They generates revenue for the government.

(vi) They prevents wasteful duplication of infrastructural facilities.

(viii) They operate on large scale as a result enjoy economies of scale.

Correct Answer: B. Public relations

Explanation

Public relations; the professional maintenance of a favourable public image by a company or other organization or a famous person.

Correct Answer: B. interest

Correct Answer: B. the last installment