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 1441: The type of activity which turns processed raw materials into consumer and industrial goods is described as ________ Options:
  A) extractive
  B) manufacturing
  C) constructive
  D) processing
  Show Answer
  The correct answer is B .
• Question 1442:

  A group of companies is a collection of? 

  Options:
  A) subsidiaries and their holding company
  B) firms
  C) associates and their holding company
  D) industries
  Show Answer
  The correct answer is A .
• Question 1443: Capital as a factor of production can be used as? Options:
  A) Money that is regarded as assets
  B) Goods that are useful in business
  C) Input for further production
  D) Services that provide satisfaction
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  The correct answer is C .
• Question 1444: A warehouse which is used to store goods whose customs duty is not yet paid is a? Options:
  A) wholesale warehouse
  B) bonded warehouse
  C) public warehouse
  D) branded warehouse
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  The correct answer is B .
• Question 1445: The economic environment of a business is concerned with? Options:
  A) climate conditions
  B) changing values
  C) the growth rate
  D) the interest rate
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  The correct answer is C .
• Question 1446: In international trade, exchanging goods for other goods and services purchased instead of paying in foreign currency is known as? Options:
  A) counter trade
  B) balance of trade
  C) balance of payments
  D) terms of trade
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  The correct answer is A .
• Question 1447: A supplier of flour who intends to sign a contract with a baker through post can establish a binding agreement only Options:
  A) after the offeror has made an offer
  B) when the offeror's letter has reached the offeree
  C) when the offeree's letter has been posted
  D) after the offeree's letter has been recieved by the offeror
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  The correct answer is D .
• Question 1448: Who is the offeree in this contract ? Options:
  A) Musa
  B) Audu
  C) Adamu
  D) Jacob
  Show Answer
  The correct answer is C .
• Question 1449: Commercialization of government corporations brings about an increase in the level of? Options:
  A) money supply in the economy
  B) distrust among business operators
  C) competition among business operators
  D) social responsibility
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  The correct answer is C .
• Question 1450: Balance of payments is made up of? Options:
  A) visible and current items
  B) invisible and capital items
  C) current and capital items
  D) visible and invisible items
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  The correct answer is C .