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 381:

  One of the objectives of the Niger Basin Commission is to

  Options:
  A) regulate the movement of citizens across borders
  B) improve tariff and quota on non-members
  C) regulate the movement of cargo along the river
  D) streaming the construction of dams on the river
  Show Answer
  The correct answer is D .
• Question 382:

  Which of the following has power to order withdrawal of a particular food item from circulation?

  Options:
  A) Food and Drug Department of the Federal Ministry of Health
  B) Federal High Courts in Nigeria
  C) Standard Organization of Nigeria
  D) Local Government Health Inspectors
  Show Answer
  The correct answer is A .
• Question 383: Money is generally accepted for transactions due to Options:
  A) the legal backing
  B) the rule of law
  C) its acceptability in the global market
  D) the Central Bank Governor's signature
  Show Answer
  The correct answer is A .
• Question 384: 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 385: In the permanent storage device, DASD means Options:
  A) Data Access Systems Device
  B) Direct Access Systems Device
  C) Data Access Storage Device
  D) Direct Access Storage Device
  Show Answer
  The correct answer is C .
• Question 386: The most important business objective is to Options:
  A) improve investments
  B) provide quality products
  C) target consumers for satisfaction
  D) carve a niche for the business
  Show Answer
  The correct answer is C .
• Question 387:

  The principle which prevents an insured from receiving a claim that is more than the value of the loss, if the property is insured by more than one company is

  Options:
  A) indemnity
  B) contribution
  C) proximate cause
  D) uberrimae fidei
  Show Answer
  The correct answer is B .
• Question 388: The central bank controls the quantity of money in circulation through? Options:
  A) open-market operations
  B) decreasing the tax rate
  C) issuing new currencies
  D) increasing the tax rate
  Show Answer
  The correct answer is A .
• Question 389: Which of these sets of external environmental factors affects a business operation? Options:
  A) Competition, industry operation
  B) Competition, labour and political
  C) Political, cultural and labour
  D) Economic, social and legal
  Show Answer
  The correct answer is D .
• Question 390:

  Goods and services are made available to consumers through

  Options:
  A) The advertising agency
  B) Sales promotion
  C) The channel of distribution
  D) The middle men
  Show Answer
  The correct answer is C .