(i) Informative role: Advertising can inform consumers about new products and services, special promotions, and other relevant information that can help them make informed decisions.

(ii) Persuasive role: Advertising can persuade consumers to buy a product or service by highlighting its benefits and advantages over competing products.

(iii) Reminder role: Advertising can remind consumers about a product or service they may have forgotten about or haven’t thought about in a while.

(iv) Branding role: Advertising can help build brand recognition and loyalty by creating a unique brand image and personality that resonates with consumers.

(v) Educational role: Advertising can educate consumers about the features and benefits of a product or service, as well as how to use it effectively.


(i) An employer is the person or organization that hires an employee to work for them, while an employee is the person who works for an employer in exchange for wages or salary.

(ii) An employer is responsible for providing the necessary resources and tools for the employee to perform their job, while an employee is responsible for using those resources and tools to perform their job to the best of their ability.

(i) Attendance and punctuality: Employees are expected to show up to work on time and be present for their scheduled shifts.

(ii) Job performance: Employees are responsible for performing their job duties to the best of their abilities, meeting performance expectations, and meeting deadlines.

(iii) Professionalism: Employees are expected to behave professionally, treating coworkers and customers with respect and following company policies and procedures.

(iv) Continuous learning: Employees are expected to continuously learn and improve their skills and knowledge to stay up-to-date with changes in their field and to improve their job performance.


Insurance is a contract between an individual or an organization (the policyholder) and an insurance company (the insurer), in which the insurer agrees to compensate the policyholder for specified losses, damages, or liabilities in exchange for a premium payment.

(i) Principle of utmost good faith: This principle requires both the insurer and the policyholder to disclose all relevant information about the subject matter of the insurance, such as the nature of the risk and any known losses or damages. This helps ensure that the insurance contract is based on accurate and complete information.

(ii) Principle of insurable interest: This principle requires the policyholder to have a financial interest in the subject matter of the insurance, such as a property or a business, in order to prevent individuals from taking out insurance policies on things they do not own or have an interest in.

(iii) Principle of indemnity: This principle requires the insurer to compensate the policyholder for the actual amount of the loss or damage suffered, up to the limit of the policy coverage. This helps ensure that the policyholder is not overcompensated for their losses and that insurance is not used as a means of making a profit.

(iv) Principle of contribution: This principle applies when the policyholder has more than one insurance policy covering the same risk. In such cases, each insurer is only responsible for a proportionate share of the loss or damage, based on the amount of coverage provided by their policy. This helps prevent the policyholder from being overcompensated for their losses and ensures that each insurer bears a fair share of the risk.


(i) Personalized customer service: Small businesses can provide more personalized customer service than larger businesses, which can help them build customer loyalty and retain customers.

(ii) Niche markets: Small businesses can specialize in niche markets and cater to specific customer needs that larger businesses may not be able to cater to.

(iii) Flexibility: Small businesses can be more flexible and adapt to changes in the market more quickly than larger businesses, which can help them stay competitive.

(iv) Lower overhead costs: Small businesses generally have lower overhead costs than larger businesses, which can help them offer products and services at lower prices.

(i) Small scale retail outlets are typically smaller in size and have a limited inventory, while large scale retail outlets are larger in size and have a wider range of products.

(ii) Small scale retail outlets tend to focus on a specific niche or market, while large scale retail outlets offer a wide range of products and services to a broad customer base.

=Small scale retail outlets=
(i) Roadside traders
(ii) Specialty stores
(iii) Kiosks
(iv) Online stores

=Large scale retail outlets=
(i) Supermarkets
(ii) Department stores
(iii) Hypermarkets
(iv) Chain stores


The second-tier securities market is a market for trading securities that are not listed on the primary stock exchange. It is also known as the over-the-counter (OTC) market.

(i) Financial Requirements: Companies must meet certain financial requirements, such as minimum levels of revenue, profits, and assets, to be admitted to the second-tier securities market.

(ii) Corporate Governance: Companies must adhere to certain corporate governance standards, such as having an independent board of directors and regular financial reporting, to be admitted to the second-tier securities market.

(iii) Legal Requirements: Companies must comply with all applicable securities laws and regulations to be admitted to the second-tier securities market.

(iv) Market Maker: Companies must have a market maker, which is a firm that agrees to buy and sell the company’s securities, to be admitted to the second-tier securities market.

(i) Direct Listing
(ii) Reverse Merger
(iii) Private Placement
(iv) Initial Public Offering (IPO)


Economic grouping is the process of countries coming together to form a regional economic bloc in order to promote economic cooperation, integration, and development.

(i) To promote economic cooperation and integration among member states.
(ii) To establish a common market for member states.
(iii) To promote free movement of people, goods, and services within the region.
(iv) To promote the development of infrastructure in the region.
(v) To promote industrial development and diversification.
(vi) To harmonize economic policies and practices among member states.
(vii) To promote regional peace, security, and stability.
(viii) To promote cooperation in the fields of education, science, and technology.


(i) Central Bank: The central bank is responsible for regulating the money market by setting monetary policy, controlling money supply, and managing interest rates.

(ii) Commercial Banks: Commercial banks are the primary lenders in the money market. They borrow and lend money to other banks, businesses, and individuals.

(iii) Discount Houses: Discount houses are institutions that buy and sell short-term government securities. They provide liquidity to the money market by buying securities from other institutions that need cash.

(iv) Money Market Funds: Money market funds are mutual funds that invest in short-term, low-risk securities. They provide investors with a safe place to invest their money while earning a small return.

(i) Soft commodities are perishable and require special storage and handling, while hard commodities are durable and can be stored for long periods.

(ii) The price of soft commodities is affected by weather conditions, disease outbreaks, and other factors that can impact crop yields While the price of hard commodities is more stable and is influenced by supply and demand factors such as global economic growth, geopolitical tensions, and technological advances.


The Customs and Excise Authority is a government agency responsible for enforcing customs laws and regulations related to the import and export of goods. It is responsible for collecting customs duties, taxes, and fees on imported and exported goods.

(i) Collecting Customs Duties: The Customs Authority is responsible for collecting customs duties on imported goods. These duties are a source of revenue for the government and are used to fund various government programs.

(ii) Enforcing Trade Regulations: The Customs Authority enforces trade regulations related to the import and export of goods. This includes ensuring that all imports and exports comply with the relevant laws and regulations.

(iii) Preventing Smuggling: The Customs Authority works to prevent the smuggling of goods into the country. This includes conducting inspections of goods at ports of entry to ensure that they comply with the relevant laws and regulations.

(iv) Protecting Public Health and Safety: The Customs Authority is responsible for protecting public health and safety by ensuring that imported goods meet the relevant health and safety standards. This includes inspecting food and other products to ensure that they are safe for human consumption.


(i) Bond: A bond is a debt security issued by a company or government to raise capital. It represents a loan made by an investor to the issuer. The issuer pays interest to the bondholder for the duration of the bond’s term and repays the principal upon maturity.

(ii)Carrier: A carrier is a company that provides transportation services for goods or people. It can refer to a variety of transportation modes, including air, sea, rail, and road transport. Carriers are responsible for ensuring that goods or people are transported safely and efficiently.

(iii) Communication: Communication is the exchange of information between individuals or groups. It can take many forms, including verbal, written, and nonverbal communication. Effective communication is essential for building relationships, sharing ideas, and achieving common goals.

(iv) Debenture: A debenture is a type of debt security issued by a company that is not secured by collateral. It represents a loan made by an investor to the issuer and pays interest to the debenture holder for the duration of the debenture’s term. Debentures are a way for companies to raise capital without pledging assets as collateral.

(v)Transportation: Transportation refers to the movement of people or goods from one location to another. It can take many forms, including air, sea, rail, and road transport. Efficient transportation is essential for economic growth and development, as it enables the movement of goods and people across large distances.


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