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 1371: 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 1372: The process of mobilizing, engaging and maintaining workers to work for an organization is referred to as? Options:
  A) staffing
  B) selection
  C) recruitment
  D) employment
  Show Answer
  The correct answer is A .
• Question 1373: The stock exchange is a market where _______ Options:
  A) long-term securities are sold
  B) all types of securities are sold
  C) short-term securities are sold
  D) medium term securities are sold
  Show Answer
  The correct answer is B .
• Question 1374: The two main forms of communication are Options:
  A) oral and written
  B) verbal and non-verbal
  C) e-mail and fax
  D) traditional and modern media
  Show Answer
  The correct answer is B .
• Question 1375: Which oft these factors of production is relatively fixed in supply? Options:
  A) Capital
  B) Enterpreneuer
  C) Human resources
  D) Natural resources
  Show Answer
  The correct answer is D .
• Question 1376: The price quoted which includes the cost of insurance, freight and all delivery charges to the importer's warehouse is? Options:
  A) Free Alongside Ship
  B) Franco
  C) Free On Board
  D) Free On Rail
  Show Answer
  The correct answer is C .
• Question 1377: One of the determinants of choice of occupation is ______ Options:
  A) level of exposure
  B) resources control
  C) government policies
  D) peer group
  Show Answer
  The correct answer is D .
• Question 1378: 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 1379:

  An advantage of rail transport is that it

  Options:
  A) is less expensive to maintain
  B) is not prone to delays
  C) carries bulky and heavy goods
  D) enhances door-to-door delivery
  Show Answer
  The correct answer is C .
• Question 1380: The association that comprises all types of businesses is referred to as? Options:
  A) chamber of commerce
  B) trust
  C) trade association
  D) cartel
  Show Answer
  The correct answer is A .