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Commerce 2015 free Waec Expo Runz

+Tuesday, 5th May, 2015:
Commerce 2(Essay) ------------ 2.00pm - 4.00pm
Commerce 1 (Obj) ------------- 4.00pm - 4.50pm



-acccepting deposit;commercial banks accept
deposit from the public for safekeeping
-Lending to customers;This is perhaps the most
profitable function of a commercial bank.deposit
from different customers are pooled together and
given out as loans to different customerx
-Safekeeping of valuables;commercial banks help
customers to keep valuables such as
jewellery,certificate etc
-Issuance of bank statement;At regular intervals,the
bank will prepare and send bank statements to their
customers to show their transaction with them
-Facilitate international trade;commercial banks
gives credits to exporters and this facilitate payment
in foreign trade

-Open market operation;This is the purchase or sale
of government securities on open market so as to
expand or restrict the volume of money in
circulation.Central bank uses this medium to control
the money in the circulation
-Liquidity ratio;commercial banks are mandated by
the government tokeep specialmproportion of their
total deposits with the central bank in order to
control the volume of credit
-Bank rate;This is the minimum rate of interest
charged by the central bank for discounting bill of
-Moral persuasion;Central bank can just appeal to
the commercial banks to restrict or expand the level
of credit to the public
-Special directives;Central bank can issue a direct or
specific instructions to the commercial banks and
other institutions to restrict their lending or credit

-prevention of smuggling
-collection of data on import
-collection of taxes
-supplies information to traders
-implements government policy on restriction of

-provision of warehouse facilities:it provides
warehousing facilities ath the airport where luggages
are kept.
-provision of office accomodations: the authority
provides office space for customs,airline companies,
shops, police and immigrations
-provision of control tower: it provides control
tower at each airport where movements of aircrafts
are monitored to avoid accident.
-collection of taxes and levies: it collects airport
levies from airlines operators and other users of its
-provision of maintenance facilities: it provides
workshop in all airports where repairs and
maintyenance can be carried out on aircrafts.

-Advertising creates demand because it persuades
consumers to purchase and use some goods
-It informs the public about the existence or
production of new good or services
-It contributes in educating the public about the uses
of a particular commodity or services advertised
-it helps to make brand names of commodities
known to members of public
-It also aims at increasing sales and profit of firms
producing the goods advertised 5b)
-Advertising helps to increase the cost of goods to
-it contributes in making large firms to drive small
firms out of production and business -It leads to scarcity of goods
-Advertising contributes in denying the consumer
their traditional right of choosing and picking
they want to buy
-It encourages the multiplication of brand names

a contract is a legally binding agreement imposing
rights and obligations on the parties, which will be
enforced by the courts.

-discharge by agreement
-discharge by performance
-discharge by breach
-discharge by frustration
-Discharge by agreement: the parties to a contract
may decidse before either of them has performed
his side of the contract that they will not perform it.
-Discharge by performance: ac ontract can only be
discharged by performance, if both parties have
completed theri part of the bargain.
-Discharge by breach: A party may cfail to pefrom
his side of the contract altogether or he may fail to
perfom part of his side of contract.the order party
may treat himself as discharged, if the failure
amounts to breach of condition.
-Discharge by frustration: a contract discharge by
frustration when it is rendered impossible of
performance by external causes beyond the
contemplation of the parties….

-Capital involvement;The huge amount of capital
involved may never be afforded by the individuals
hence government involves
-The nature of their services;government prefers to
handle the rendering of these essential services in
order to reduce their costs
-Prevention of exploitation;If private enterprises are
allowed to render the essential services there will be
exploitation and discrimination in their provision
-To avoid duplication;If private enterprises are
allowed to render services rendered by corporations
many of them will be involved thereby leading to
-To avoid private monopoly

-Frequent government or political interference into
the administration of public corporation which
result ineffectiveness
-High embezzlement prospensity of the officials of
public corporation cripples the corporation
-Lack of adequate personnel hampers the effective
performance of public corporation
-Political instability that results in frequent change of
governments whic gives rise to irregular change of
the officials of public corporation does not augur
well for efficient running of corporation
-Favouratism in the appointment of managers and
members of board of directors which leads to
enthronement and glorification of mediocrity in
place of meritocracy


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