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 151: An association that acts as a watchdog between enterpreneurs and government to protect trade from any unfavourable laws is said to be a Options:
  A) cartel
  B) syndicate
  C) Chamber of Commerce
  D) Nigeria Bar Association
  Show Answer
  The correct answer is C .
• Question 152: An economic activity which deals with natural resources is a form of? Options:
  A) extraction
  B) refining
  C) construction
  D) manufacturing
  Show Answer
  The correct answer is A .
• Question 153: Which Commerce Question Paper is given to you? Options:
  A) Type A
  B) Type B
  C) Type C
  D) Type D
  Show Answer
  The correct answer is B .
• Question 154: A country's terms of trade are said to improve when the ratio of her export Options:
  A) decreases
  B) remains constant
  C) increases
  D) equals import
  Show Answer
  The correct answer is C .
• Question 155:

  Use the information below to answer questions 13 and 14

  	#
  Sales	50,000.00
  Debtors	10,000.00
  Cash in hand	5,000.00
  Opening stock	30,000.00
  Creditors	8,000.00
  Purchases	16,000.00
  Overdraft	12,000.00
  Closing stock	10,000.00

  Options:
  A) #35,000.00
  B) #20,000.00
  C) #15,000.00
  D) #14,000.00
  Show Answer
  The correct answer is D .
• Question 156: In the long run, all factors of production are? Options:
  A) fixed
  B) variable
  C) marginal
  D) constant
  Show Answer
  The correct answer is B .
• Question 157: Bank Giro is a method of settling debt from a Options:
  A) customer to a bank
  B) bank to customer
  C) customer to another
  D) bank to another
  Show Answer
  The correct answer is A .
• Question 158: One of the products of an extractive industry is Options:
  A) an airplane
  B) an iron ore
  C) a shoe
  D) a textile material
  Show Answer
  The correct answer is B .
• Question 159: The practice whereby soft drink manufacturers give away caps, bags and other items when consumers buy their product is a form of Options:
  A) marketing strategies
  B) publicity
  C) advertising
  D) saels promotion
  Show Answer
  The correct answer is D .
• Question 160: A document sent by a seller to inform a buyer about the prices of goods is the? Options:
  A) catalogue
  B) price list
  C) credit note
  D) proforma invoice
  Show Answer
  The correct answer is B .