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: A country is said to be experiencing an unfavorable balance of trade if her Options:
  A) exports exceed imports
  B) visible exports exceed visible imports
  C) imports and exports are equal
  D) visible imports exceed visible exports
  Show Answer
  The correct answer is D .
• Question 1042: The most important advantage of personal selling is that it Options:
  A) allows sellers to percieve buyers' needs
  B) allows sellers to sell their goods quickly
  C) takes place easily on the high ways
  D) takes place without the permissionof government
  Show Answer
  The correct answer is A .
• Question 1043:

  The elements in marketing mix that ensures goods are available when and where needed is

  Options:
  A) Promotion
  B) price
  C) product
  D) place
  Show Answer
  The correct answer is D .
• Question 1044: The two main forms of communication are Options:
  A) oral and written
  B) verbal and non-verbal
  C) e-mail and fax
  D) traditional and modern media
  Show Answer
  The correct answer is B .
• Question 1045:

  Rights issue means the?

  Options:
  A) issue of shares to the directors of a company.
  B) issue of shares by a company only to the founders of the company
  C) right of shareholders to vote on any issue
  D) issue of shares to shareholders on favorable terms
  Show Answer
  The correct answer is B .
• Question 1046: A supplier of flour who intends to sign a contract with a baker through post can establish a binding agreement only Options:
  A) after the offeror has made an offer
  B) when the offeror's letter has reached the offeree
  C) when the offeree's letter has been posted
  D) after the offeree's letter has been recieved by the offeror
  Show Answer
  The correct answer is D .
• Question 1047: The basic function of the Nigeria Ports Authority is to? Options:
  A) ensure that the right calibre of personnel is employed at the ports
  B) coordinate and regulate the activities of shipping lines
  C) facilitate and control the movement of goods and services into and out of the country
  D) coordinate the activities of all the seaports in the country
  Show Answer
  The correct answer is D .
• Question 1048: The development of commerce resulted from? Options:
  A) trading
  B) competition
  C) importation
  D) specialization
  Show Answer
  The correct answer is A .
• Question 1049: Citizens are against privatization mainly because of Options:
  A) Ineffective Management
  B) The likely hood of monopoly
  C) Increased price of good and services
  D) The ration dilation of organizations.
  Show Answer
  The correct answer is C .
• Question 1050: A business organization must always consider the overall effect of its actions on the Options:
  A) competitor
  B) product
  C) profit
  D) society
  Show Answer
  The correct answer is C .