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 121:

  A form of money with face value which is greater than the value of the metal contents is

  Options:
  A) bank notes
  B) legal tender
  C) commodity money
  D) token money
  Show Answer
  The correct answer is D .
• Question 122: A direct service is rendered by Options:
  A) State counsels
  B) Civil servants
  C) Police
  D) Family doctor
  Show Answer
  The correct answer is D .
• Question 123: Labour as an input in production can be motivated by Options:
  A) training
  B) profit
  C) remuneration
  D) promotion
  Show Answer
  The correct answer is C .
• Question 124:

  An arrangement by independent firms to share the market of their products on quota basics Is referred to as

  Options:
  A) Cartel
  B) Syndicate
  C) Trust
  D) Integration
  Show Answer
  The correct answer is A .
• Question 125: Any activity directed at conveying commodities to buyers is an aspect _________ Options:
  A) selling
  B) delivering
  C) advertising
  D) marketing
  Show Answer
  The correct answer is B .
• Question 126:

  

  X represents

  Options:
  A) action
  B) transmission
  C) ideation
  D) receiver
  Show Answer
  The correct answer is C .
• Question 127:

  A person who undertakes any risk in insurance business is known as ? 

  Options:
  A) a broker
  B) an underwriter
  C) an insurer
  D) an actuary
  Show Answer
  The correct answer is B .
• Question 128: Which of the following requires payment into the payee's account? Options:
  A) Crossed cheque
  B) Traveller's cheque
  C) Open cheque
  D) Certified chegues
  Show Answer
  The correct answer is A .
• Question 129:

  A person who buys new issues with a view of reselling at a higher price in the near future is referred to as a

  Options:
  A) bear
  B) bull
  C) dealer
  D) stag
  Show Answer
  The correct answer is B .
• Question 130:

  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 .