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 1291: Avast is an example of Options:
  A) a web browser
  B) a search engine
  C) an antivirus
  D) a spread sheet
  Show Answer
  The correct answer is C .
• Question 1292: Product X was introduced into the market at N4.00 with its cost of product at N3.90 while competing products are at N4.50. What pricing policy are producers of X adopting? Options:
  A) market skimming
  B) market penetration
  C) product live promotion
  D) above the market pricing
  Show Answer
  The correct answer is A .
• Question 1293: International trade takes place as a result of? Options:
  A) uniformity in costs of production
  B) inequitable distribution of natural resources
  C) parity in the level of industrialization
  D) similarities in climate conditions
  Show Answer
  The correct answer is B .
• Question 1294: In case of a liquidation of a public limited liability company, those that are first paid are Options:
  A) ordinary shareholders
  B) prefernce shareholders
  C) cumulative preference shareholders
  D) debenture holders
  Show Answer
  The correct answer is D .
• Question 1295: Goods that are manufactured or acquired by the seller after the contract of sale are? Options:
  A) specialty goods
  B) future goods
  C) specific goods
  D) general goods
  Show Answer
  The correct answer is C .
• Question 1296: Which of the following is the most important business resource? Options:
  A) money
  B) management
  C) materials
  D) manpower
  Show Answer
  The correct answer is D .
• Question 1297: The evolution of commerce in Nigeria is traceable to the? Options:
  A) period of barter economy as human needs became limitless
  B) desire by human beings to satify their needs through the services of other people inthe society
  C) development of human civlizations and the desire to meet their needs
  D) primitive stage of existence of human beings
  Show Answer
  The correct answer is B .
• Question 1298:

  The major determinant of fire insurance premium is the

  Options:
  A) usefulness of the property to the owner
  B) type and structure of the property to be insured
  C) owner of the property to be insured
  D) extent of fire damage anticipated
  Show Answer
  The correct answer is B .
• Question 1299: One of the effects of the devaluation of the Naira is that the Options:
  A) goods that can be imported with the naira have become cheaper
  B) value of other currencies relative to the naira have become cheaper
  C) goods that can be exported from Nigeria have become costlier
  D) imports that can be bought with the naira have become costlier
  Show Answer
  The correct answer is D .
• Question 1300: Which of the following is the best method for computing working capital Options:
  A) Total assets less current liabilities
  B) Current liabilities less current assets
  C) Fixed liabilities less current assets
  D) Current assets less current liabilities
  Show Answer
  The correct answer is A .