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: Organizing trade fairs in Nigeria is the responsibility of? Options:
  A) National Directorate of Employment
  B) Federal Ministry of Commerce
  C) trade association
  D) chambers of commerce
  Show Answer
  The correct answer is B .
• Question 372: The basic distinction between cash discount and trade discount is that while trade discount is Options:
  A) for a period of 30 days, cash discount is for a period of 3 months
  B) given by a wholesaler, cash discount is given by a bank
  C) a reduction in the catalogue pirce f an article, cash dis count is a reduction in the invoice value
  D) a reduction in the value of sales, cash discount is a reduction in price of goods
  Show Answer
  The correct answer is D .
• Question 373: The role of a wholesaler in the channel of distribution is to? Options:
  A) produce goods in large quantities and sell in small quantities
  B) buy goods directly from the manufacturers
  C) buy goods in large quantities and sell in small quantities
  D) sell goods directly to the consumers
  Show Answer
  The correct answer is C .
• Question 374:

  

  The total sum for financing short term projects is

  Options:
  A) N 40 000
  B) N 30 000
  C) N 200 000
  D) N 70 000
  Show Answer
  The correct answer is C .
• Question 375: The macro-environment forces and trends which are a constraint on business operations are referred to as? Options:
  A) technological factors
  B) economic factors
  C) external factors
  D) internal factors
  Show Answer
  The correct answer is A .
• Question 376:

  The sale of second hand securities is done in which market

  Options:
  A) Building society
  B) cooperative society
  C) stock exchange
  D) capital market
  Show Answer
  The correct answer is C .
• Question 377:

  Which of the following functions is not performed by warehousing?

  Options:
  A) Stabilization of price
  B) production ahead of demand
  C) creating scarcity of goods
  D) storage of goods
  Show Answer
  The correct answer is C .
• Question 378:

  An association formed by computer distributors to safeguard and promote their interest is a

  Options:
  A) chamber of commerce
  B) cooperative society
  C) trade association
  D) trade union
  Show Answer
  The correct answer is C .
• Question 379: The sustainable growth of commerce is largely due to? Options:
  A) marketing
  B) advertising
  C) exchange
  D) branding
  Show Answer
  The correct answer is B .
• Question 380: The rate at which a country's exports exchange for its imports is called Options:
  A) balance of payments
  B) balance of trade
  C) terms of payment
  D) terms of trade
  Show Answer
  The correct answer is D .