Commerce Exam Past Questions and Answers | JAMB, WAEC and NECO

Commerce is a structured system for exchanging goods between buyers and sellers. It involves studying the processes and activities related to buying and selling goods and services, particularly on a large scale.

• Question 1: An instrument used in lieu of legal tender is known as ______? Options:
  A) Token money
  B) commodity money
  C) fiat money
  D) representative
  Show Answer
  The correct answer is B .
• Question 2:

  One of these is not a major in the production process?

  Options:
  A) Producers
  B) Distributors
  C) Marketers
  D) Consumers
  Show Answer
  The correct answer is C .
• Question 3: Product X was introduced into the market at N4.00 with its cost of product at N3.90 while competing products are at N4.50. What pricing policy are producers of X adopting? Options:
  A) market skimming
  B) market penetration
  C) product live promotion
  D) above the market pricing
  Show Answer
  The correct answer is A .
• Question 4: An example of a computer operating system is? Options:
  A) the Pagemaker
  B) the Word Perfect
  C) Microsoft Word 2000
  D) Windows 2000
  Show Answer
  The correct answer is D .
• Question 5: The three main classification of occupation are? Options:
  A) construction, trade and services
  B) manufacturing, industry and services
  C) farming, banking and trading
  D) industry, commerce and services
  Show Answer
  The correct answer is D .
• Question 6: Consumer rights include the right to? Options:
  A) credit
  B) free samples of a product
  C) redress
  D) a shre of profits
  Show Answer
  The correct answer is C .
• Question 7: In which of the following sets of occupations can an industrial worker be found? Options:
  A) extraction commerce and construction
  B) manufacturing extraction and banking
  C) construction, quarrying and insurance
  D) manufacturing , extraction and construction
  Show Answer
  The correct answer is D .
• Question 8: After registration, a certificate of trading is usually issued to a Options:
  A) partnership
  B) public company
  C) private company
  D) sole proprietorship
  Show Answer
  The correct answer is B .
• Question 9: The element of the marketing mix are Options:
  A) product promotion, place and price
  B) [personal selling, advertising and research
  C) promotion, production, place and price
  D) procurement, price, product and place
  Show Answer
  The correct answer is A .
• Question 10: The function of money that is mostly affected by inflation is Options:
  A) store of value
  B) medium of exchange
  C) measure of value
  D) unit of account
  Show Answer
  The correct answer is A .