Assignment 7 – Due Thursday March 2, 2023, 1:30 pm

Name: Date:
ID Number:

Part 1

1. Which of the following documents gives the name of the ship and full particulars of the shipment of
goods?

(A) Bill of sale

(B) Airway bill

(C) Broker's bill

(D) Bill of lading

2. Which of the following are characteristics of a ‘perfect market’?

I. There are many buyers and sellers.

II. The price of the goods must be fixed by supply or demand.

III. There must be several types of the commodity on sale.

(A) I and II only

(B) I and III only

(C) II and III only

(D) I, II and III

3. Which of the following BEST describes the term 'loss leader'?

(A) An item which the retailer gives away to customers

(B) A product which is sold cheaply to attract customers

(C) A good which has no real market value

(D) A product which the retailer is unable to locate

4. Which of the following is a MAJOR function of consumer organizations?

(A) Acting as price inspectors

(B) Providing goods and services for consumers

(C) Setting price controls for certain commodities

(D) Educating consumers about their rights and privileges

5. Which of the following BEST describes a bill of sale?

(A) An advertisement for sale of a client's property by the bank in settlement of a debt

(B) A notice that a list of items overdue for customs clearance will be auctioned

(C) A document drawn up by a business to inform import control authorities of its export activities

(D) An agreement between buyer and seller regarding title of ownership of goods

6. A housewife buys meat from a local butcher in her neighborhood. What type of distribution does this
represent?

(A) A retail outlet

(B) A direct channel

(C) A single channel

(D) An indirect channel

7. Advantages of supply chain operations include

I. wealth creation

II. job opportunity

III. better quality life

(A) I and II only

(B) I and III only

(C) II and III only

(D) I,II and III

8. Which of the following describes planning, implementation, forward and reserve flow of goods and
services and related information between two destinations to satisfy customers’ requirement?

(A) Logistics

(B) Airway bill

(C) Globalization

(D) Multimodal transport

9. Which of the following problems are likely to be encountered in distribution?

I. Spoilage of goods

II. Inadequate warehousing

III. Ineffective communication

(A) I and II only

(B) I and III only

(C) II and III only

(D) I, II and III

10. The link in the distribution chain that BEST describes the breaking of bulk goods into smaller
packages is called

(A) retailer

(B) consumer

(C) wholesaler

(D) manufacturer

11. A system of organizing people, activities, information and resources involved in moving a product or
service from supplier to customer can BEST be described as

(A) logistics

(B) airway bills

(C) intermodal transport

(D) supply chain operations

12. What is the name of the document used as the receipt of goods by an airline carrier and as a
contract of carriage between the shipper and the carrier?

(A) Insurance

(B) Airway bill

(C) Bill of lading

(D) Import license

Total: 12 Marks
 Part 2

1. (a) List THREE examples of EACH of the following:

(i) Market structures

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(3 marks)

(ii) Methods of retailing

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(3 marks)

(b) Differentiate between ‘capital-intensive production’ and ‘labour-intensive production’.

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(4 marks)
(c) Outline TWO purposes of branding.

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(4 marks)

(d) Explain TWO ways in which packaging helps in the marketing of goods.

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(6 marks)

Total (20 Marks)