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 351: An important feature of land is that it Options:
  A) has an elastic supply
  B) is an active factor of production
  C) is heterogenous in nature
  D) is subject to returns to scale
  Show Answer
  The correct answer is B .
• Question 352: The insurance principle that requires full disclosure of information on the insured is known as Options:
  A) indemnity
  B) uberrimae fidei
  C) subrogation
  D) caveat emptor
  Show Answer
  The correct answer is B .
• Question 353:

  Sea vessels that do not operate on regular times and routes are

  Options:
  A) tramps
  B) ocean liners
  C) container ships
  D) ferries
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  The correct answer is B .
• Question 354: The object of the business are determined by the Options:
  A) workers
  B) government
  C) society
  D) promoters
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  The correct answer is C .
• Question 355:

  Which of the limited liability companies have a limit of fifty members and do not issues their shares to the public

  Options:
  A) Private limited liability
  B) Public limited liability
  C) Partnership
  D) Co-operative society
  Show Answer
  The correct answer is A .
• Question 356:

  In a public limited liability company, planning is carried out by

  Options:
  A) Employees
  B) The chairman of the board
  C) Shareholders
  D) Manufacturer’s warehouse
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  The correct answer is C .
• Question 357: A distinctive advantage of GSM is its? Options:
  A) mobility
  B) cost
  C) stability
  D) coverage
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  The correct answer is A .
• Question 358:

  The satisfaction of consumer is best explained by

  Options:
  A) Product mix
  B) Marketing concept
  C) marketing mix
  D) market segmentation
  Show Answer
  The correct answer is B .
• Question 359: The Continental West African Conference is a Options:
  A) group of all West African countries trading in the same products
  B) conference to foster unity among the West African countries
  C) gorups of shipping lines operating on the same West African route
  D) trust with shareholders fromall West African countries
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  The correct answer is D .
• Question 360: The elimination of fault in a computer programme is called? Options:
  A) console
  B) debug
  C) dump
  D) loop
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  The correct answer is B .