(a) What is Credit?

(b) Explain three ways by which banks grant credit to customers.

(c) Give two advantages and three disadvantages of credit sales. 
 

Explain any five ways in which nationalised industries differ from public limited companies. 
 

(a) Who is an agent?

(b) Give six duties of an agent.

(c) State three rights of an agent. 
 

(a) What is production?

(b) Explain the different activities involved in industrial, commercial and service occupations.
 

 (a) What is transportation by pipeline?

(b) Explain any four advantages and four disadvantages of transportation by pipeline.