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Advantages of using cheque as means of payment includeCheque are more secure that notes.Cheque are convenient to carry.Payment can be made by cheque without travelling.Cheque provide means for future reference.
Ways that may be used by a monopoly to differentiate a product market include;Geographically - exported goods are sold at cheaper price in the country of manufacture than in foreign country.Time-peak and off peakType of demand e.g. demand for electricity of domestic use and commercial useIncome e.g. in hospitals
Limitations of using fire and smoke signals as a means of communication include;Could convey messages over long distances/it can only be used to cover short distances.Its effectiveness depended on weather.Was not secretive way of sending a message.Limited to the sighted/required people to be on the lookout.Limited range of messages could be sent.
Means of payment provided by the Post Office.Postal Order: It is a means of payment in fixed denominations brought from the Post Office to remit money to a payee. It can be cashed at any Post Office.Money Order: A means through the Post Office issued to the remitter by filling a form and paying the amount to be remitted. It is cashed at a specific Post Office named on it.Postage Stamps: are used to make payments of little amounts of money.Postapay: means of instant transfer of money via internet offered by the Post Office. Payee can only receive payment through the post offices or Postapay agents.
Demerits a firm may experience as a result of growth of the entire industry are;Scramble for raw materialsNon-availability of land for expansionScramble for available skilled labourCompetition for available marketsEasy target especially in times of war