Explanation

a) Trade discount: is a reduction in the catalog price of a commodity given to retailers to enable them to take profit.

Quantity discount: is a reduction in price based on the volume of goods purchased by a retailer.

Cash discount: is a reduction in the debt payable by a retailer who pays before the due date.

Seasonal discount: is a reduction in price to buyers who order and pay for goods during and off-seasons.

b) The key function of a development bank are:

• Investment advise and conducting feasibility studies;
• Management of projects;
• Provision of equity capital and underwriting security issue
• Undertaking of research.
• Reasons for referring to the Central Bank as a Banker to government

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