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 281: The main advantage of road transport is that it is Options:
  A) convenient and flexible
  B) cheap and direct
  C) common and fast
  D) safe and available
  Show Answer
  The correct answer is A .
• Question 282: To eliminate middlemen, there should be a retail outlet such as Options:
  A) producer co-operative
  B) consumer co-operative
  C) multiple shop
  D) departmental store
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  The correct answer is C .
• Question 283: A risk that can be estimated and calculated to be compensation is? Options:
  A) a delivery risk
  B) an insurable risk
  C) a credit risk
  D) a systematic risk
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  The correct answer is B .
• Question 284: The rate of turnover of a firm in a given year is 5 times while the average stock is #12,500. what is the turnover of the firm? Options:
  A) #24,000
  B) #46,500
  C) #62,500
  D) #65,000
  Show Answer
  The correct answer is C .
• Question 285: When two or more companies agree to execute a project too large for one to handle, this is referred to as? Options:
  A) an amalgamation
  B) a cartel
  C) a merger
  D) a consortium
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  The correct answer is D .
• Question 286: An opportunity to reject a binding contract at will by a third party is said to be a? Options:
  A) valid contract
  B) quasi contract
  C) voidable contract
  D) conditional contract
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  The correct answer is C .
• Question 287: The variety of goods and services which a company offers for sale is its? Options:
  A) place mix
  B) promotion mix
  C) price mix
  D) product mix
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  The correct answer is D .
• Question 288: The insurance policy which provides full cover against all risks at sea is known as Options:
  A) Policy with Particular Average
  B) Policy Free of Particular Average
  C) Marine Freight Insurance
  D) Marine Voyage Policy Insurance
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  The correct answer is D .
• Question 289: A functional structure is an organizational structure in which? Options:
  A) abstract rules are applied
  B) equity prevails
  C) a specialist enforces his directives
  D) there is no hierarchy
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  The correct answer is C .
• Question 290:

  Warehousing is a productive function because it increases the?

  Options:
  A) quantity of goods
  B) utility of goods
  C) quality of goods
  D) price of goods
  Show Answer
  The correct answer is B .