Reference no: EM132938425

1. In relation to the sources of law: explain the meaning of the term "common law "and state four characteristics that a custom under African customary law should satisfy to be enforceable.

2. With the use of appropriate examples, highlight four circumstances under which African customary law may be used as a source of law and matters in which African customary law can be applied.

3. One of the most significant shortcomings of the common law that led to the development of equity was inadequate remedies. As a result, many would be plaintiffs were left out; however, equity increased the remedies. With reference to the above statements discuss five equitable remedies.

4. As sources of law is concerned, explain the inadequacies of common law that resulted in the development of the principles and doctrines of equity as a complimentary source of law.

5. During legislation, a bill might either undergo assent or referral during the bill assessment process. Summarize the process of presidential assent.

6.Evaluate the influences on businesses of Government economic policy. [25] The answer should discuss the fiscal policies implemented by the government and its effects on business.

7.In what ways can the use of tariffs by a government to reduce the level of imports harm or help domestic producers?

8.Explain three ways in which the Production Department is influenced by the activity of the Marketing.

9.Demand for a particular product is price inelastic. What is the significance of this for a firm when considering a change in the price of its product?

10.Under what circumstances might a "full cost mark up" pricing method be the most appropriate one for a marketing manager to use?