Correct Answer: D. breaking the bulk

Explanation

The middlemen plays the role of an intermediary in a distribution or transaction chain who facilitates interaction between the involved parties. The middlemen are the whoselars and retailers who specialise in performing activities relating to the purchase and sale of goods in the process of their flow from producer to the final buyers

Correct Answer: B. spend more money

Explanation

Anticipated inflation occurs when people know inflation is going to occur and prepare for it. For example, increased interest rates.

Correct Answer: B. break bulk and sell products in small units

Explanation

The primary function of a retailer is selling the products in small units to the consumers/customers. They also perform several marketing functions such as sales promotion, advertising and point of purchase display etc.

Correct Answer: C. marketing economies

Explanation

Marketing economies of scale is an advantage of large firms, which have a lower unit cost for advertising and promotion than small firms. A large firm can buy raw materials in bulk, produce in large quantities and distribute to many areas where they are required.

Explanation

(a) →A mortgage bank is a bank or company which offers a loan with their own funds or from warehouse lenders while a merchant bank is a financial institution that provides the services of finance, underwriting, offering business loans, and advice or consultancy on finance.

→Commercial bank is a bank organized to perform public utility banking services, such as accepting deposits, lending money, etc while a development bank refers to a multi-purpose financial undertaking set up to provide financial aid to the industrial and agricultural sector, to encourage development.

(b) - Agency functions: Commercial banks are already agents of the banking system, but they can also be personal agents to their customers. An agent is an individual or institution that carries out activities, in this case, financial operations, on behalf of the principal 9 who is the customer) for a few known commissions.

- Credit creation: Commercial banks are perhaps the only financial institutions with this unique function. Commercial banks create credit by accepting deposits and providing loans, pushing money into the economy.

- Transfer of funds: The transfer of funds from a customer's account to another account is another vital function of banks. Fund transfer is a valid means of paying for transactions, as well as other financial activities. Transfer of funds can be carried out through several ways such as drafts, standing orders, cheques, USSD platforms, and electronic banking.

- Provision of loans: Besides accepting deposits, another function of commercial banks is the provision of loans. The provision of funds to those who require them for transactions is a vital role commercial banks play. Nowadays, customers can now have access to instant loans from commercial banks

Correct Answer: C. a wider market for goods and services

Explanation

(a) Limited liability is a business ownership structure that protects shareholders' personal assets from losses and debts. The liability is limited to the amount invested in the company. Owners and partners are not accountable for the firm's losses and debts.

(b) - For a private company, the minimum membership is 2 while the maximum is 50 and for a public, the minimum is 7 while the maximum has no limits.

- In a private joint stock, the number of directors is at least 2 while for a public, the number of directors is at least 3.

- There is no need for directors to file anything i.e no restriction on the appointment of directors in a private company while in a public joint company, directors must file a consent to act as directors or sign an MOA or enter for contract for qualification shares.

- In a private joint stock company, the transfer of shares is restricted while in a public joint stock company, there is no restriction of shares.

(c) -Personal capital: The sole proprietorship can invest his own savings into his business for expansion. This prevents him from the burden of interest payment and allows him to retain full control over the business.

- Retained profit: A profitable business generated a positive net income every year. Instead of drawing out large sums of money, a sole trader may opt to retain the earnings for business expansion

- Sale of assets: When a sole trader is short of personal capital and retained earnings and there's a need to further investment in the business, he may decide to sell some of his assets.

Correct Answer: C. frictional unemployment

Explanation

Frictional unemployment arises when a person is in between jobs. It is also a sort of unemployment where job seekers search for jobs while the jobs seek the employees or workers.

Correct Answer: A. market surplus occurs

Explanation

Minimum price is often called price floor and it is fixed by the government to protect the producer or seller. Minimum price is set above the equilibrium price and when this occur, there will be excess supply over demand i.e surplus.

Correct Answer: C. discourage entrepreneurs generally

Explanation

Most developing countries are not politically stable e.g frequent changes in government, commnual crises, etc. These generally lead to low economic growth and development. Theferore, political instability, through its adverse influence on investment, accounts for substantial reduction in the economic growth.