(a) What is delegation of authority?

(b) State four advantages of delegation of authority. 
 

(a) Explain each of the following:
(i) Chamber of Commerce
 (ii) Trade Association.

(b) Give any four functions each of a Chamber of Commerce and a Trade Association.
 

(a) What is marketing concept?

(b) Explain the four elements of the marketing mix. 
 

(a) Give the meaning of each of the following:
(i) balance of trade
 (ii) balance of payments.

(b)Describe four ways by 
 

(a) What is Commerce?

(b) State and explain the importance of any five ancillary services to trade.