(a) What is an agency?

(b) Explain the features of the following agents:
(i) Factor
(ii) Broker
(iii) Del-credere agent
(iv) Auctioneer. 
 

(a) Distinguish between marketing and a market

(b) In which four ways is marketing important to a developing country? 
 

Write the following in full and explain their meanings:
(a) C.I.F.
(b) F.O.B.
(c) F.A.S.
(d) F.O.R.
(e) C.F. 
 

(a) Who is an actuary?

(b) Differentiate between contribution and group insurance

(c) Describe three types of risks that may be insured against under marine insurance.
 

(a) Illustrate any four channels of distribution of manufactured goods.

(b) Explain the statement the longer the channel, the higher the price.

(c) Give five reasons why small scale retail businesses may fail.