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 241: The implied provisions in every sale of goods as contained in the sale of goods act of 1893 are conditions and Options:
  A) Guaranties
  B) Warranties
  C) Sureties
  D) Consideration
  Show Answer
  The correct answer is B .
• Question 242:

  A feature of supermarkets which distinguishes it from other large scale retail outlets is that items sold are

  Options:
  A) mainly household goods
  B) mainly industrial goods
  C) delivered by post
  D) one line of products
  Show Answer
  The correct answer is A .
• Question 243: 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
  Show Answer
  The correct answer is C .
• Question 244:

  Freight note is a document

  Options:
  A) issued by a shipping company giving details of changes
  B) used by government to transport goods from one country to another
  C) used for payment for imported goods
  D) given by an importer to pay for goods at a future period
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  The correct answer is A .
• Question 245: An engineer in government employ is to be rendering? Options:
  A) primary service
  B) tertiary service
  C) indirect service
  D) direct service
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  The correct answer is C .
• Question 246:

  When does production ends?

  Options:
  A) When the goods are distributed to the wholesalers
  B) When the goods reaches the retailer
  C) When the goods reaches the final consumers
  D) When the goods are fully packaged
  Show Answer
  The correct answer is C .
• Question 247: Hire purchase is beneficial to the seller because? Options:
  A) it enhances his living standard
  B) it increases his turnover
  C) people pay instalmentally
  D) of the patronage he enjoys
  Show Answer
  The correct answer is B .
• Question 248: Which of the followingis a modern trend in retailing ? Options:
  A) Kiosk
  B) Mobile shop
  C) Vending machine
  D) Tied shop
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  The correct answer is C .
• Question 249: The concept of limiting types, sizes and other characteristics of a product line without sacrificing utility or durability is called Options:
  A) simplification
  B) standardization
  C) specialization
  D) satisficing
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  The correct answer is B .
• Question 250: The significance of money to modern economic system is that it? Options:
  A) is used as a means of payment
  B) promotes specialization and exchange
  C) measures value and promotes exchange
  D) causes inflation in the economy
  Show Answer
  The correct answer is C .