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: For establishment of a powerful consumers' association in Nigeria to exist, there must be Options:
  A) financial and moral support from the public
  B) honest and commited leadership
  C) allocation of goods from the producer
  D) freedom from external influence
  Show Answer
  The correct answer is D .
• Question 382: One of the main objectives of the Second-tier Securities Market in Nigeria is to Options:
  A) achieved a realistic exchange rate for the naira
  B) eliminate currency dealings in the black market
  C) assist companies to raise capital
  D) attract investment flow
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  The correct answer is D .
• Question 383: An aid to trade associated with communications is? Options:
  A) banking
  B) transportation
  C) warehousing
  D) insurance
  Show Answer
  The correct answer is B .
• Question 384: The form of capital which is easily transferred into the form desired is known as? Options:
  A) working capital
  B) liquid capital
  C) circulating capital
  D) capital employed
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  The correct answer is C .
• Question 385: The major responsibility of an entrepreneur is? Options:
  A) Employing all factors of production in the business
  B) coordinating and determining the proportion of what to produce
  C) planning and organizing all activities in the business
  D) directing and controlling all the affairs of the business
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  The correct answer is A .
• Question 386: The temporary working area of the central processing unit is called the? Options:
  A) C-D ROM
  B) C-D RAM
  C) ROM
  D) RAM
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  The correct answer is B .
• Question 387: The resources which are necessary for business development include? Options:
  A) manufacturing , materials mentors and money
  B) merchant, materials, mentors and money
  C) man, money, materials and machines
  D) machines, manufacturing , money and materials
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  The correct answer is C .
• Question 388: The component of balance of payments which shows how the balance of both current and capital accounts are settled is know as Options:
  A) current account
  B) monetary movement account
  C) capital account
  D) social-welfare account
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  The correct answer is B .
• Question 389: An activity that involves derivation of raw materials from land and sea is? Options:
  A) construction
  B) farming
  C) agriculture
  D) extraction
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  The correct answer is D .
• Question 390:

  Commerce is defined as

  Options:
  A) buying and selling of goods and services only
  B) all activities in the distribution and exchange of goods and services
  C) all activities involved in the production of goods and services
  D) transporting and warehousing of goods only
  Show Answer
  The correct answer is B .