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 371: Commerce is defined as the study of how Options:
  A) man utilizes the resources in his physical environment
  B) man produces, distributes and consumes his goods and services
  C) man buys, sells and distributes goods and services
  D) raw materials are changed into finished goods
  Show Answer
  The correct answer is B .
• Question 372: In a typical manufacturing enterprises, the line function is performed by the Options:
  A) Public relations department
  B) Marketing Department
  C) Estate or Properties Department
  D) legal Department.
  Show Answer
  The correct answer is B .
• Question 373: The process of transferring data from one computer to another is referred to as Options:
  A) downloading
  B) faxing
  C) browsing
  D) decoding
  Show Answer
  The correct answer is A .
• Question 374:

  

  From the diagram above, what does I stand for?

  Options:
  A) Aids to trade
  B) Publicity
  C) Home trade
  D) Advertising
  Show Answer
  The correct answer is A .
• Question 375: The making of doors from timber planks is a type of? Options:
  A) manufacturing
  B) tertiary production
  C) secondary produuction
  D) primary production
  Show Answer
  The correct answer is C .
• Question 376: The focal point of the marketing efforts is the` Options:
  A) seller
  B) profit
  C) product
  D) buyer
  Show Answer
  The correct answer is D .
• Question 377: Product involves Options:
  A) making goods avaiable where and when needed
  B) changing the form of goods, moving and making them avaiable as needed
  C) the manufacturing of goods and provision of services
  D) the assembling of all necessary parts to produce a finished product
  Show Answer
  The correct answer is B .
• Question 378: The payment made by a speculator to the buyer when he is unable to deliver stocks on the agreed date is Options:
  A) arbitage
  B) franco
  C) contango
  D) backwardation
  Show Answer
  The correct answer is D .
• Question 379:

  The strategy adopted by a firm that ceases to operate at one or more locations because of inactivity is

  Options:
  A) consolidation
  B) rejuvenation
  C) diversification
  D) focus
  Show Answer
  The correct answer is A .
• Question 380:

  The agency in Nigeria which ensures that products conform with government quality specifications is the?

  Options:
  A) standard organisation of Nigeria
  B) Nigeria consumer association
  C) manufacturers association of Nigeria
  D) Nigeria chambers of commerce
  Show Answer
  The correct answer is A .