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 1241: Which of the following maxims negate the principle of collective bargaining? Options:
  A) individual employees have weak bargaining base
  B) individual employees attain strength when they come together in union
  C) only members of the union can benefit from agreements negotiated by the union
  D) collective bargainig covers the vast majority of employees, whether union members or not
  Show Answer
  The correct answer is C .
• Question 1242: Land as a factor of production does not vary in _______ Options:
  A) quantity
  B) nature
  C) quality
  D) cost
  Show Answer
  The correct answer is B .
• Question 1243:

  The conversion of raw materials into finished products creates

  Options:
  A) form utility
  B) time utility
  C) marginal utility
  D) place utility
  Show Answer
  The correct answer is A .
• Question 1244: 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 1245: One way by which a business can discharge its social responsibility to its community is to? Options:
  A) hold monthly meetings of its customers
  B) building houses for its executives
  C) award scholarship to staff children
  D) build public health centres
  Show Answer
  The correct answer is D .
• Question 1246: Production ends when goods and services ________ Options:
  A) reach the final consumer
  B) are used for manufacturing
  C) are packaged and labelled
  D) are sold to the middlemen
  Show Answer
  The correct answer is A .
• Question 1247: The major problem confronting Cyber Cafe operators is? Options:
  A) advance fee fraud by clientele
  B) poor network coverage
  C) high operating costs
  D) copyright voilations by clients
  Show Answer
  The correct answer is C .
• Question 1248: Charges for loans paid by commercial banks to the Central Bank of Nigeria are called? Options:
  A) bank rates
  B) credits charges
  C) interest rates
  D) bank charges
  Show Answer
  The correct answer is A .
• Question 1249:

  Which of the following is not a characteristic of a commercial bank?

  Options:
  A) Established as limited liability company
  B) Established by individuals or organizations
  C) Established to issue bank notes
  D) Established with the view of making profit
  Show Answer
  The correct answer is C .
• Question 1250:

  Given:

  I. shoe maker
  II. policemen
  III. fishermen
  IV. Gardener
  V. Broker.

  The persons engaged in primary Occupation are

  Options:
  A) I, II and V
  B) I, III and IV
  C) III and V
  D) III and IV
  Show Answer
  The correct answer is D .