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: An instrument used in lieu of legal tender is known as ______? Options:
  A) Token money
  B) commodity money
  C) fiat money
  D) representative
  Show Answer
  The correct answer is B .
• Question 122:

  What do we call agreement between two people enforced by law?

  Options:
  A) Consideration
  B) offer
  C) contract
  D) agreement
  Show Answer
  The correct answer is C .
• Question 123: 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 124:

  The type of occupation that a broker belongs to is

  Options:
  A) commercial
  B) construction
  C) extraction
  D) manufacturing
  Show Answer
  The correct answer is A .
• Question 125:

  The headquarters of Niger Basin Commission is located at________

  Options:
  A) Abuja
  B) Niamey
  C) Lome
  D) Nojamena
  Show Answer
  The correct answer is B .
• Question 126: The physical component of a computer system is Options:
  A) software
  B) hardware
  C) hard disk
  D) floppy disk
  Show Answer
  The correct answer is B .
• Question 127:

  The management function which involves measuring outcomes and taking corrective action to reduce error is

  Options:
  A) staffing
  B) organizing
  C) directing
  D) controlling
  Show Answer
  The correct answer is D .
• Question 128: To make a simple contract valid, the intention must be? Options:
  A) legal and written
  B) legal and binding
  C) legal and attractive
  D) legal and harmonious
  Show Answer
  The correct answer is B .
• Question 129:

  A chamber of commerce is an association made up of?

  Options:
  A) merchants
  B) manufacturers
  C) entrepreneurs
  D) importers
  Show Answer
  The correct answer is C .
• Question 130: Which of the following is a traditional medium of communication used to mark festivals? Options:
  A) Palm frond
  B) Metal gong
  C) Talking drum
  D) Gum blast
  Show Answer
  The correct answer is C .