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Commerce 2021 WAEC Past Questions

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11

An organization of producers of similar produces, which controls output with the intention to fix price is a 

  • A. trust
  • B. syndicate
  • C. consortium
  • D. cartel
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12

One of the functions of a trade association is to 

  • A. provide infrastructure for members
  • B. provide employment for members
  • C. promote members' welfare
  • D. pay members' salaries
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13

The practice of selling goods to a foreign country at lower prices than obtainable in the exporting country is 

  • A. speculation
  • B. skimming
  • C. hedging
  • D. dumping
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14

A foreign order which instructs an agent to buy certain goods from a particular supplier is

  • A. closed indent
  • B. open indent
  • C. letter of credit
  • D. letter of enquiry
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15

Which of the following is not a condition for dissolution of a partnership? 

  • A. Continuous disagreement among partners
  • B. Expiration of a business year
  • C. Mutual consent of the patners
  • D. Termination of the venture
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