1a)i-trade. ii-foreign trade. iii-retail trade. iv-wholesales trade. v-insurance. vi-tourism. vii-warehousing. viii-advertising.
1bi-this involves d extraction of raw material provided by nature. it is associated with d process of obtaining raw material from land, air & water example is mining
1bii)it involves d transformation of basic raw material /semi finished goods into final forms that acceptable to the consumers . it hence production of finished goods such as processed food,house etc
1bii)it involves d transformation of basic raw material /semi finished goods into final forms that acceptable to the consumers . it hence production of finished goods such as processed food,house etc
1biii-this involves d provision of commercial & professional services to the pple.it is associated with commercial services
3a)channel of distribution is a path throu which goods d producer to the final consumers. it enhance production & consumption of goods & services
3b)i- producer->wholesales->retailer->consumers. ii)producer->agent->retailer->consumers. iii)producers->wholesalers->consumers. iv)producers->agent->wholesalers->retailers->consumers.
3c)i-there is no language barrier in home unlike foreign trade. ii-less documentation is required in home trade unlike foreign trade. iii-home trade involves one currency unlike foreign trade.iv-transport cost is lower in home trade than in foreign trade.
3c) v-free movement of goods involves in home trade unlike goods restriction in foreign trade
7a) A contract is an agreement btw two /more parties which is intended by them to have legal banking. all contract involves agreement but not all agreement are contract
7b)i-valuable consideration. ii- genuineness of consent. iii-possibility of performance. iv-offer & unqualified acceptance. v-creation of legal relation
7c)i-by breach:this occurs when one parties involves in a con tract failed to perform his own part of the contract. ii-by lapse of time: this occurs when d period for d agreement comes to an end.
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