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 1201: The promotion of team spirit in an organization is referred to as Options:
  A) unity of direction
  B) espirit de corps
  C) unity of purpose
  D) discipline
  Show Answer
  The correct answer is B .
• Question 1202:

  (i)Money and machines (ii) Materials and Money (iii)Market and Man.

  Which combination of the above are basic requirement as business resource?

  Options:
  A) i and ii
  B) ii and iii
  C) i and iv
  D) ii and iv
  Show Answer
  The correct answer is B .
• Question 1203: One of the obstacles to achieving the objectives of ECOWAS is? Options:
  A) lack of a common currency
  B) colonial linkages
  C) sovereignty of states
  D) language differences
  Show Answer
  The correct answer is D .
• Question 1204: The availability of goods and services is brought to the notice of customers through? Options:
  A) personal selling
  B) public relations
  C) the telephone
  D) advertising
  Show Answer
  The correct answer is D .
• Question 1205:

  A commission charged on postal order is__________

  Options:
  A) postal zero
  B) postal orders
  C) poundage
  D) brokage
  Show Answer
  The correct answer is C .
• Question 1206: The principal objectives of the Central Bank of Nigeria can be classified broadly into? Options:
  A) bankers' bank lender of last resort and issuance of currency
  B) service, currency management and financial intermediation
  C) banking services, foreign exchange operations and open markets operations
  D) service, monetary policy and developmental functions
  Show Answer
  The correct answer is A .
• Question 1207: Which of the following is a development bank in Nigeria? Options:
  A) Union Bank Plc
  B) First Bank Plc
  C) First City Monument Bank
  D) Federal Mortgage Bank
  Show Answer
  The correct answer is D .
• Question 1208: The act of a person employing another to enter into a contract on his behalf is known as? Options:
  A) business
  B) sale of goods
  C) bilateral agreement
  D) agency
  Show Answer
  The correct answer is D .
• Question 1209: The major aim of establishing a public corporation is to Options:
  A) establish a monopoly
  B) provide essential services
  C) provide employment opportunities
  D) encourage specialization
  Show Answer
  The correct answer is B .
• Question 1210: Marketing skimming is an example of? Options:
  A) market penetration
  B) sales promotion
  C) pricing policy
  D) advertising
  Show Answer
  The correct answer is A .