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 271: The major function of a trade association is that it? Options:
  A) liases with foreign trade associations
  B) helps to promotes foreign trade
  C) facilitates members' access to credit facilities
  D) helps to promote resarch on behalf of members
  Show Answer
  The correct answer is D .
• Question 272:

  The difference between a chamber of commerce and a trade association is that the former

  Options:
  A) is not restricted to a particular industry
  B) is a branch of trade that sells product
  C) consists of members engaged in the same trade
  D) are association of individuals or firms
  Show Answer
  The correct answer is A .
• Question 273:

  A retail store that sells a single product from a particular manufacturer is a

  Options:
  A) tied shop
  B) shopping mail
  C) hypermarket
  D) chain store
  Show Answer
  The correct answer is D .
• Question 274:

  All except one is not a corporation and boards at the federal level

  Options:
  A) FRCN
  B) NNPC
  C) CBN
  D) MAN
  Show Answer
  The correct answer is D .
• Question 275: The bulls and bears in the Stock Exchange market help to minimize Options:
  A) the number of shares and bonds sold
  B) price increases of securities
  C) fluctuations in the prices os securities
  D) the elasticity of the prices of securities
  Show Answer
  The correct answer is C .
• Question 276: Which of the following industries is normally located near the source of its raw materials? Options:
  A) Footware industry
  B) Cement industry
  C) Textile industry
  D) Automobile assembly
  Show Answer
  The correct answer is B .
• Question 277: The transformation of cotton into clothings is an example of Options:
  A) secondary production
  B) tertiary production
  C) primary production
  D) direct production
  Show Answer
  The correct answer is A .
• Question 278: The type of letters that are delivered through the normal mail or by airmail express service is referred to as Options:
  A) inland letters
  B) registered letters
  C) airmail letters express letters
  D) express letters
  Show Answer
  The correct answer is C .
• Question 279: Resource committees into the production of relatively few commodities is known as Options:
  A) Production
  B) Specialization
  C) Creation manufacturing
  D) Manufacturing
  Show Answer
  The correct answer is B .
• Question 280: One of the advantages of commercialization is that it? Options:
  A) encourages entrepreneuership
  B) increases the salaries of workers
  C) motivates governement to establish more business
  D) gives wortkers on-the-job training
  Show Answer
  The correct answer is A .