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 1041: The main difference between nationalization and indigenization is in terms of Options:
  A) shareholding
  B) profit
  C) technology
  D) efficiency
  Show Answer
  The correct answer is C .
• Question 1042: Which of the following is a disadvantage of nationalization Options:
  A) It promotes poor economic planning
  B) The cost of services is not determined by by market forces
  C) It may lead to rationalization of resources
  D) The development of local skills and technologyis retarded
  Show Answer
  The correct answer is D .
• Question 1043:
  

  Use the information above to answer the question below.

  What is the owners' equity?

  Options:
  A) N 250 000
  B) N 300 000
  C) N 420 000
  D) N 200 000
  Show Answer
  The correct answer is A .
• Question 1044: Sole enterprise may flourish best in Options:
  A) a mining business
  B) a retailing business
  C) an oil exploration business
  D) a car assembly business
  Show Answer
  The correct answer is B .
• Question 1045: Nigerian Postal Services (NIPOST) facilitates commerce in all the following ways except through Options:
  A) cash on delivery service
  B) recorded delivery service
  C) express service
  D) free on board service
  Show Answer
  The correct answer is D .
• Question 1046: The wealth of a nation depends on the volume of its? Options:
  A) bilateral trade activities
  B) commercial activities
  C) multilateral trade activities
  D) stock market
  Show Answer
  The correct answer is B .
• Question 1047: Social responsibility of an organization to? Options:
  A) tackle the socio-economic problem of its community
  B) meet the needs of its community
  C) contribute to sustaining and developing its community
  D) operate without disrupting the very essence of the enviroment
  Show Answer
  The correct answer is C .
• Question 1048: Kabir receives two quotations. Ade quotes N 100 less 20% trade discount and 20% cash discount while Benson N100 less 30%trade discount and 10% cash discount. If Kabir wants to take advantage and cash discount, then Options:
  A) the material should be supplied by Ade
  B) the material should be supplied by both of them
  C) the material should be supplied by Benson
  D) Benson should be ask to reduce his trade discount
  Show Answer
  The correct answer is A .
• Question 1049:

  An offer extended to several people at once is called

  Options:
  A) Acceptance
  B) Offeror
  C) Invitation to threat
  D) Consideration
  Show Answer
  The correct answer is C .
• Question 1050:

  One of the criteria for differenciating consumer markets from industrial ones is the?

  Options:
  A) type of demand
  B) type of supply
  C) nature of service rendered
  D) price of the goods
  Show Answer
  The correct answer is C .