SS 3 SECOND TERM EXAMINATION COMMERCE

Commerce – SS 3

INSTRUCTION: Answer only four (4) questions.

1a. Define the term “Business”.

1. State the four (4) objectives of business.

2a. What is management?

1. State four (4) functions of management.

3a. What is a “business environment”?

1. State four classification of a business environment.

4a. What is departmentation?

1. State four (4) functions of any four department you know.

5a. What is a contract?

1. Mention four (4) essential elements of a contract.

6a. Who is an agent?

1. State four (4) types of agents you know.

SECTION B

INSTRUCTION: Answer all questions.

1. ____________ is a person who employs another person called agent to act on his behalf.
2. ___________ is a system whereby the buyer has possession and the use of goods while the owner retains the ownership of goods until the final payment is made.
3. ___________ is a person who is given the authority by the principal to enter into a contract on his behalf.

An agency can be terminated through ___4____ and ___5_____.

6. ____________ is somebody or an institution that hires or provide work for another person.
7. In Nigeria, it is mandatory for all business enterprises to register with the ___________.
8. ___________ is somebody who agrees to perform services to an employer in exchange for payment of an agreed renumeration.
9. ___________ is the right to give command or directive and to ensure compliance.
10. __________ is the ability to change the behavior or attitudes of others through the means of sanction.