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 21: Social responsibility of business requires enterprises to Options:
  A) hold annual social parties for the public
  B) draw their workers only from the immediate environment
  C) address themselves to issues relating to the society
  D) set up social welfare centers in their areas of operation
  Show Answer
  The correct answer is C .
• Question 22: One major disadvantage of a cartel is that it Options:
  A) maximizes productive efficiency
  B) brings the merging firms under control
  C) maximizes profit from operation
  D) eliminate competitions and waste
  Show Answer
  The correct answer is D .
• Question 23: The internet is a system of telecommunications used for? Options:
  A) communicating long-distance messages
  B) sending and recieving text massages
  C) sending electronic messages
  D) communicating messages through telegrams
  Show Answer
  The correct answer is C .
• Question 24: 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 25: The commercialization of public enterprises is aimed at? Options:
  A) increasing efficiency and making the enterprises self-sufficient
  B) advertising and promoting the goods and services of the enterprises
  C) increased assistance and patronage of the enterprises by the public
  D) selling the goods and services of the enterprises
  Show Answer
  The correct answer is A .
• Question 26: The process of converting a non-profit making organisation to a profit-making business is ________? Options:
  A) indigenisation
  B) privatisation
  C) deregulation
  D) commercialisation
  Show Answer
  The correct answer is B .
• Question 27: The most important difference between community banks and peoples’ bank is that the? Options:
  A) latter is owned solely by government while the former are not
  B) former cater for ruler dwellers while the latter cater for both rural and urban dwellers
  C) former are service oriented while the latter are profit oriented
  D) latter advances loans to the public while former advance loans to the rural dwellers only.
  Show Answer
  The correct answer is A .
• Question 28: The most important attributes in a sale of goods contract are? Options:
  A) offer and consideration
  B) price and goods
  C) offer and acceptance
  D) demand and supply
  Show Answer
  The correct answer is C .
• Question 29:

  Which of the following groups would advocate for the supply of constant electricity to households?

  Options:
  A) Consumer's association
  B) Credit union
  C) Employer's association
  D) Labour union
  Show Answer
  The correct answer is A .
• Question 30: The business with the best business objectives is Options:
  A) Okon
  B) Taiwo
  C) Kalu
  D) Musa
  Show Answer
  The correct answer is A .