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 1331:

  A business unit in which savings of members are lent to others is a

  Options:
  A) consumer cooperative society
  B) producer cooperative society
  C) credit and thrift society
  D) wholesale cooperative society
  Show Answer
  The correct answer is C .
• Question 1332: The social responsibility factor of an organization is geared towards Options:
  A) contributing to the sustenance and development of its host community
  B) operating without disrupting the very esssence of the environment
  C) tackling the soci-economic problems of the state
  D) meeting the needs and demands of the shareholders
  Show Answer
  The correct answer is A .
• Question 1333: Which of the following can be used to differentiate skilled and unskilled labour? Options:
  A) Education and traning
  B) Available resources
  C) Level of commitment
  D) Salaries and wages
  Show Answer
  The correct answer is A .
• Question 1334: 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 1335: The comparison of a country's visible and invisible exports and imports expressed in monetary term is? Options:
  A) balance of payment
  B) terms of trade
  C) balance of trdae
  D) terms of payment
  Show Answer
  The correct answer is C .
• Question 1336:

  Hire purchase is advantageous to the seller in that

  Options:
  A) it elevates his living standard
  B) people pay on installment
  C) his turnover will increase
  D) it enhances high level of patronage
  Show Answer
  The correct answer is D .
• Question 1337: An important feature of land is that it Options:
  A) has an elastic supply
  B) is an active factor of production
  C) is heterogenous in nature
  D) is subject to returns to scale
  Show Answer
  The correct answer is B .
• Question 1338: An aspect of the law which allows an exclusive right for a limited number of years is a Options:
  A) copyright
  B) trade mark
  C) raffication
  D) patent
  Show Answer
  The correct answer is D .
• Question 1339: The three major function unit which the modern computer has are Options:
  A) the input the processor and the output units
  B) the black box, output and input units
  C) BASIC, COBOL and output uits
  D) BASIC, the processor and PASCAL
  Show Answer
  The correct answer is A .
• Question 1340: A feature common to public and private limited liability companies is that Options:
  A) both can sue and be sued
  B) the minimum number of their shareholders is five
  C) the transfer of their shares is not restricted
  D) their annual accounts are published for public use
  Show Answer
  The correct answer is A .