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 141:

  The conversion of raw materials into finished products creates

  Options:
  A) form utility
  B) time utility
  C) marginal utility
  D) place utility
  Show Answer
  The correct answer is A .
• Question 142: Entrepreneurship mainly involves? Options:
  A) risk-taking
  B) initiating
  C) skilled manpower
  D) knowledge
  Show Answer
  The correct answer is A .
• Question 143:

  A person engaged for the purpose of bringing his principal and a third party into a contractual relation is

  Options:
  A) an arbiter
  B) an auctioneer
  C) an agent
  D) a middlemen
  Show Answer
  The correct answer is C .
• Question 144: An insured risk which occurs accidentally as a result of deflects in a ship is? Options:
  A) a voyage policy
  B) a total loss
  C) an emergency
  D) a particular average
  Show Answer
  The correct answer is D .
• Question 145: The element of the marketing mix are Options:
  A) product promotion, place and price
  B) [personal selling, advertising and research
  C) promotion, production, place and price
  D) procurement, price, product and place
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  The correct answer is A .
• Question 146:

  The communication aspect of the marketing mix is

  Options:
  A) Price
  B) Promotion
  C) Place
  D) Product
  Show Answer
  The correct answer is B .
• Question 147: A bond which attracts only interest but leaves the capital unpaid is referred to as? Options:
  A) a long-term loan
  B) a develoment bond
  C) a redeemable bond
  D) an irredeemable bond
  Show Answer
  The correct answer is A .
• Question 148: A function organization structure is where? Options:
  A) staff performing the same functions are grouped together
  B) department performing similar functions grouped together
  C) activities of similar nature are grouped together
  D) staff performing similar functions are grouped together
  Show Answer
  The correct answer is D .
• Question 149:

  All but one is not a demerit of advertising?

  Options:
  A) It leads to monopoly
  B) Buyers can buy unnecessarily
  C) Increase in profit
  D) High cost
  Show Answer
  The correct answer is C .
• Question 150: The body that organizes, promotes and participates in local and foreign trade fairs is the Options:
  A) Ministry of Commerce and Tourism
  B) Ministry of finance
  C) Chambers of Commerce
  D) Export Promotion Council
  Show Answer
  The correct answer is C .