Contact COOLBOY for ur sure and real questions and
before exam..(waec, NPSE,bece, private wassce exam)..
WhatsApp line...08035452768
COOLBOY
```COMMERCE 2023💯✅```
________________________
1.C
2.A
3.D
4.C
5.A
6.B
7.C
8.A
9.B
10.B
11.A
12.D
13.C
14.D
15.A
16.C
17.B
18.D
19.D
20.B
21.C
22.B
23.D
24.D
25.B
26.B
27.C
28.B
29.A
30.A
31.A
32.D
33.C
34.B
35.A
36.D
37.C
38.C
39.D
40.A
41.D
42.A
43.D
44.D
45.B
46.A
47.C
48.D
49.D
50.B
💥🇸🇱💯✅💥
*Q2a*
No7)
a) Two differences between marketing and selling are:
1. Focus: Selling primarily focuses on the exchange of goods or services for monetary value. It involves persuading customers to make a purchase by emphasizing product features, benefits, and price. Marketing, on the other hand, is a broader concept that encompasses activities such as market research, product development, pricing, distribution, and promotion. It is concerned with understanding customer needs and preferences, creating value, and building long-term customer relationships.
2. Scope: Selling is a transactional activity that primarily deals with individual sales transactions and customer interactions. It emphasizes closing deals and generating revenue in the short term. Marketing, on the other hand, takes a holistic approach and includes various strategic activities to attract and retain customers. It involves creating and implementing marketing strategies, branding, market segmentation, customer relationship management, and overall market positioning.
b) The four main elements of the marketing mix, often referred to as the 4Ps, are:
1. Product: This refers to the goods or services offered by a company. It includes product design, features, quality, branding, packaging, and customer value proposition.
2. Price: Price refers to the amount customers are charged in exchange for the product or service. It involves setting competitive pricing strategies, considering factors such as costs, market demand, pricing objectives, and perceived value.
3. Place: Place refers to the distribution channels and methods used to make the product available to customers. It involves decisions related to inventory management, logistics, channel partners, and selecting the most suitable distribution channels to reach the target market effectively.
4. Promotion: Promotion encompasses all the activities used to communicate and promote the product to the target market. It includes advertising, sales promotion, public relations, personal selling, and digital marketing efforts to create awareness, generate interest, and persuade customers to purchase the product.
c) The benefits that Country Z could derive from remaining in the Economic Community of West African States (ECOWAS) include:
1. Trade Advantages: By remaining in ECOWAS, Country Z can benefit from preferential trade agreements and reduced trade barriers within the member countries. This can lead to increased export opportunities, access to larger markets, and the potential for economic growth through increased trade.
2. Economic Cooperation: ECOWAS provides a platform for economic cooperation and collaboration among member countries. Country Z can participate in regional development projects, joint ventures, and infrastructure initiatives, leading to improved economic stability and shared resources.
3. Regional Security: ECOWAS has a focus on promoting peace, stability, and security within the region. By remaining in the group, Country Z can benefit from collective security efforts, cooperation in combating transnational crime, and regional peacekeeping initiatives.
4. Regional Integration: ECOWAS aims to promote regional integration, which can enhance political, social, and cultural ties among member countries. This can lead to increased cooperation in areas such as education, healthcare, cultural exchange, and regional governance, fostering regional unity and cooperation.
(i) Features of a Shopping Mall:
(1) Multiple Retailers: Shopping malls house various retailers offering a wide range of products and services.
(2) Ample Facilities: They provide amenities like food courts, parking, and entertainment options for a comprehensive shopping experience.
(ii) Mail Order Business:
(1) Remote Shopping: Customers can shop from catalogs or online platforms and have products delivered to their doorstep.
(2) Convenience and Accessibility: Mail order businesses offer convenience and accessibility, especially for customers who prefer remote shopping.
(iIii) Tied Shop:
(1) Exclusive Products: Tied shops sell products exclusively from a specific manufacturer or brand.
(2)Brand Promotion: They promote the tied brand through signage, advertisements, and materials to attract brand loyal customers.
(iv) Vending Machine:
(1) Automated Sales: Vending machines allow customers to purchase products without human interaction.
(2) Accessibility and Convenience: They are easily accessible in various locations, providing quick and convenient access to products.
(v) Mobile Shop:
(1) Mobility: Mobile shops operate from vehicles or trailers, allowing them to reach different locations.
(2)Flexibility and Personalization: They offer flexibility in terms of location and personalized services, catering to specific events or customer demands.
NIGERIA AND GAMBIA
Commerce-Obj
01-10: DABCDDBBAA
11-20: BDCBAADDDC
21-30: BDCBDCACDC
31-40: BCABCCABAC
41-50: ADACBADDAA
THEORY
2023 WAEC COMMERCE ANSWERS
(1a)
(i)Slavery: The slave trade was a major hindrance to the growth of commerce in West Africa. It disrupted the social and economic structures of many African societies and led to a decline in trade.
(ii)Lack of infrastructure: The lack of roads, bridges, and other infrastructure made it difficult to transport goods from one place to another, which limited the growth of commerce.
(iii)Disease: The prevalence of diseases such as malaria and yellow fever made it difficult for traders to operate in West Africa.
(iv)Political instability: The frequent wars and conflicts between different ethnic groups and kingdoms in West Africa disrupted trade and made it difficult for traders to operate.
(v)Colonialism: The imposition of colonial rule by European powers in the late 19th and early 20th centuries disrupted traditional trade routes and practices and led to the exploitation of African resources for the benefit of European powers.
(1b)
(i) Oil driller - Industrial worker
(ii) Potter - Artisan worker
(iii) Policeman - Civil servant worker
(iV) Brewer - Industrial/Service worker
(V) Stock broker - Professional worker
(vi) Mason - Construction worker
(Vii) Farmer - Agricultural worker
===============================================
(2a) Five problems Samba could face as a sole trader include:
(i) Unlimited Liability: As a sole trader, Samba would be personally liable for all debts and obligations of the business. If the business incurs significant debts or legal liabilities, Samba's personal assets could be at risk.
(ii) Limited Resources: As a sole trader, Samba may face limitations in terms of financial resources and capital. It may be challenging to raise significant funds or secure loans without the backing of a partnership.
(iii) Lack of Expertise: Running a business as a sole trader means that Samba would be responsible for all aspects of the business, including operations, finance, marketing, and administration. Samba may lack expertise or experience in certain areas, which could impact the efficiency and effectiveness of the business.
(iv) Workload and Time Management: Samba would be solely responsible for managing and operating the business. This could result in a heavy workload, making it challenging to balance the demands of running the business with personal life commitments.
(v) Limited Growth Potential: Without the resources, skills, and shared decision-making of a partnership, Samba may face limitations in terms of business growth and expansion opportunities. It may be more challenging to enter new markets, invest in research and development, or expand the business's operations.
(2b) Five benefits Samba could enjoy if he remained in the partnership include:
(i) Shared Responsibility: By remaining in the partnership, Samba can share the responsibilities, workload, and decision-making with Victor. This can help distribute the burden and provide support in managing the business.
(ii) Shared Resources: The partnership would provide access to shared resources, including capital, expertise, networks, and assets. Samba could benefit from shared financial resources, which can be crucial for business operations, expansion, and investment.
(iii) Division of Labor: In a partnership, Samba can focus on his areas of expertise and delegate tasks to Victor, who may have complementary skills. This division of labor can enhance efficiency and productivity within the business.
(iv) Risk Sharing: In a partnership, both partners share the risks and liabilities of the business. Samba would not bear the entire burden of debts or legal obligations alone, reducing his personal liability.
(v) Collaboration and Support: By remaining in the partnership, Samba can benefit from collaboration, idea generation, and support from Victor. The partners can pool their knowledge, skills, and experience to overcome challenges, make informed decisions, and drive the business forward
===============================================
(3a)
[PICK ANY FOUR]
(i) Storage of goods
(ii) Protection of goods
(iii) Risk bearing
(iv) Financing
(v) Processing
(vi) Grading and branding
(vii) Transportation
(3b)
(a) Chain store:
(i) Multiple store locations, often spread across different regions or even countries
(ii) Uses a standardized branding and store design across all locations, giving a consistent customer experience.
(b) Mobile shop:
(i) Operates out of a vehicle or a portable structure, allowing it to move to different locations.
(ii) Typically focuses on a specific product or niche, such as mobile phones or accessories.
(c) Mail order business:
(i) Uses catalogs, websites, or other printed and digital materials to advertise and sell products to customers who place orders remotely.
(ii) Often offers a wide range of products to cater to diverse customer needs and preferences.
===============================================
(5a)
Tourism is the act of travel for predominantly recreational or leisure purposes, and also refers to the provision of services in support of this act.: 2(a):
(i) Limited resources: As a sole trader, Samba may not have access to the same resources, such as capital and expertise, that he had as a partner.
(ii) Increased workload: Samba may have to handle all aspects of the business himself, which could be overwhelming and time-consuming.
(iii) Limited scope: Samba may not be able to take advantage of new opportunities or expand the business beyond his personal capacity.
(iv) Limited liability: As a sole trader, Samba would be personally liable for any debts or legal issues arising from the business.
(v) Lack of collaboration: Samba may miss the benefits of collaborating with a partner, such as sharing ideas and workload.
(b)
(i) Shared resources: Samba would have access to the resources and expertise of his partner, which could help the business grow and succeed.
(ii) Shared workload: Samba would not have to handle all aspects of the business alone, which could reduce his workload and stress.
(iii) Shared risk: The partnership structure allows Samba to share the risks and liabilities of the business with his partner.
(iv) Collaborative decision-making: Working with a partner allows Samba to share ideas and make decisions collaboratively, which could lead to better outcomes.
(v) Combined expertise: Samba and his partner may have different areas of expertise, which could complement each other and lead to a more successful business.
===============================================
(6a)
Tourism is the act of travel for predominantly recreational or leisure purposes, and also refers to the provision of services in support of this act.
(6bi) Increase in building costs and land value
(6bii) The depletion of natural resources is a growing concern especially in places where resources are already scarce.
(6biii) Tourism puts enormous stress on local land use, and can lead to soil erosion, increased pollution, natural habitat loss etc.
===============================================
(7a) Two differences between marketing and selling are:
(1) Focus: Selling primarily focuses on the exchange of goods or services for monetary value. It involves persuading customers to make a purchase by emphasizing product features, benefits, and price. Marketing, on the other hand, is a broader concept that encompasses activities such as market research, product development, pricing, distribution, and promotion. It is concerned with understanding customer needs and preferences, creating value, and building long-term customer relationships.
(ii) Scope: Selling is a transactional activity that primarily deals with individual sales transactions and customer interactions. It emphasizes closing deals and generating revenue in the short term. Marketing, on the other hand, takes a holistic approach and includes various strategic activities to attract and retain customers. It involves creating and implementing marketing strategies, branding, market segmentation, customer relationship management, and overall market positioning.
(b) The four main elements of the marketing mix, often referred to as the 4Ps, are:
(i) Product: This refers to the goods or services offered by a company. It includes product design, features, quality, branding, packaging, and customer value proposition.
(ii) Price: Price refers to the amount customers are charged in exchange for the product or service. It involves setting competitive pricing strategies, considering factors such as costs, market demand, pricing objectives, and perceived value.
(iii) Place: Place refers to the distribution channels and methods used to make the product available to customers. It involves decisions related to inventory management, logistics, channel partners, and selecting the most suitable distribution channels to reach the target market effectively.
(iv) Promotion: Promotion encompasses all the activities used to communicate and promote the product to the target market. It includes advertising, sales promotion, public relations, personal selling, and digital marketing efforts to create awareness, generate interest, and persuade customers to purchase the product.
(c) The benefits that Country Z could derive from remaining in the Economic Community of West African States (ECOWAS) include:
(i) Trade Advantages: By remaining in ECOWAS, Country Z can benefit from preferential trade agreements and reduced trade barriers within the member countries. This can lead to increased export opportunities, access to larger markets, and the potential for economic growth through increased trade.
(ii) Economic Cooperation: ECOWAS provides a platform for economic cooperation and collaboration among member countries. Country Z can participate in regional development projects, joint ventures, and infrastructure initiatives, leading to improved economic stability and shared resources.
(iii) Regional Security: ECOWAS has a focus on promoting peace, stability, and security within the region. By remaining in the group, Country Z can benefit from collective security efforts, cooperation in combating transnational crime, and regional peacekeeping initiatives.
(iv) Regional Integration: ECOWAS aims to promote regional integration, which can enhance political, social, and cultural ties among member countries. This can lead to increased cooperation in areas such as education, healthcare, cultural exchange, and regional governance, fostering regional unity and cooperation.
===============================================
Post a Comment