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 1411: Fluctuations in the supply of goods may be eliminated if the distribution system maintains? Options:
  A) modern technology
  B) a team of retailers
  C) warehouse services
  D) sufficient middlemen
  Show Answer
  The correct answer is A .
• Question 1412: Commerce is defined as the study of how Options:
  A) man utilizes the resources in his physical environment
  B) man produces, distributes and consumes his goods and services
  C) man buys, sells and distributes goods and services
  D) raw materials are changed into finished goods
  Show Answer
  The correct answer is B .
• Question 1413: Which of the following is a disadvantage of nationalization Options:
  A) It promotes poor economic planning
  B) The cost of services is not determined by by market forces
  C) It may lead to rationalization of resources
  D) The development of local skills and technologyis retarded
  Show Answer
  The correct answer is D .
• Question 1414: Which of the following takes place when firms producing at different stages in the same industry combine? Options:
  A) conglomeration
  B) vertical integration
  C) horizontal integration
  D) cartel
  Show Answer
  The correct answer is B .
• Question 1415:

  The Sole aim of government owned business is to

  Options:
  A) make profit
  B) provide services to the public
  C) spread environmental pollution
  D) manage action
  Show Answer
  The correct answer is B .
• Question 1416: An obstacle to international trade is? Options:
  A) trade imbalance between countries
  B) availiability of local market
  C) quantity and quality of labour
  D) cost of finance
  Show Answer
  The correct answer is D .
• Question 1417:

  A title, symbol, or design that distinguishes a company is called

  Options:
  A) Brand name
  B) Trademark
  C) copyright
  D) Patent right
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  The correct answer is B .
• Question 1418: The person who undertakes any risk in insurance business is known as Options:
  A) a broker
  B) an underwriter
  C) an insurer
  D) an actuary
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  The correct answer is B .
• Question 1419:

  In a law of contract, what is given in exchange for a promise to perform is_____

  Options:
  A) offer
  B) acceptance
  C) warranty
  D) consideration
  Show Answer
  The correct answer is D .
• Question 1420: A group of specialized functions of marketing is Options:
  A) buying, selling, storing and information
  B) buyimg, selling, advertising and packaging
  C) buying, selling, labelling and promotion
  D) buying , selling, skimmimg and pricing
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  The correct answer is C .