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 11:

  The type of insurance policy that is compulsory in International trade so that all goods passing through the sea must be covered is considered to be________

  Options:
  A) The type of insurance policy that is compulsory in International trade so that all goods passing through the sea must be covered is considered to be
  B) Aviation Insurance
  C) Marine Insurance
  D) Life Assurance
  Show Answer
  The correct answer is C .
• Question 12: The physical component of a computer system is Options:
  A) software
  B) hardware
  C) hard disk
  D) floppy disk
  Show Answer
  The correct answer is B .
• Question 13: The buying and selling of goods and services is referred to as Options:
  A) trading
  B) marketing
  C) insurance
  D) advertising
  Show Answer
  The correct answer is A .
• Question 14:

  The theory of International trade is based on_________

  Options:
  A) Principles of management
  B) Principles of comparative cost
  C) Principle of double entry
  D) Theory of migration
  Show Answer
  The correct answer is B .
• Question 15: RRF as a scheme introduced by the central bank of Nigeria means Options:
  A) recording and Rediscounting Facility
  B) refinancing and Recording Facility
  C) refinancing and Rediscounting Facility
  D) refinancing and Reinvesting Facility
  Show Answer
  The correct answer is D .
• Question 16: The focal point of marketing is? Options:
  A) the competitior
  B) the buyer
  C) profit-making
  D) sales
  Show Answer
  The correct answer is D .
• Question 17: A manufacturer can make his product distinguishable from those of other competitors by Options:
  A) providing catalogues for his wholesalers
  B) aggressive sale ppromotion
  C) branding and packaging the product
  D) selling the product at a much lower price
  Show Answer
  The correct answer is C .
• Question 18: The activities of consumers association in Nigeria have not been effective because Options:
  A) the consumers are too many
  B) the government is not favourabley dispose towards consumerism
  C) there is poor enlightenment about consumer rights
  D) the consumers have no medium for expressing their feelings
  Show Answer
  The correct answer is D .
• Question 19: The conversion of raw material into finished products creates Options:
  A) Marginal utility
  B) Place utility
  C) form utility
  D) time utility
  Show Answer
  The correct answer is C .
• Question 20:

  Given:

  I. shoe maker
  II. policemen
  III. fishermen
  IV. Gardener
  V. Broker.

  The persons engaged in primary Occupation are

  Options:
  A) I, II and V
  B) I, III and IV
  C) III and V
  D) III and IV
  Show Answer
  The correct answer is D .