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 401: One of the main obstacles of establishing the Niger River Basin Commission was to? Options:
  A) embark on a comprehensive survey of the available water resources
  B) carry research for the development of fresh water fisheries
  C) develop infrastructure to facilitate economic activities
  D) promotes trade among member-state to improve standards of living
  Show Answer
  The correct answer is C .
• Question 402: Occupations are classified into? Options:
  A) production, labour and economics
  B) extraction, construction and manufacturing
  C) industry, commerce and serves
  D) trade, aids to trade and serivices
  Show Answer
  The correct answer is C .
• Question 403: The business with the best business objectives is Options:
  A) Okon
  B) Taiwo
  C) Kalu
  D) Musa
  Show Answer
  The correct answer is A .
• Question 404:

  Which of the following is not an objective of ECOWAS?

  Options:
  A) promotion of a common language
  B) improvement of infrastructural facilities
  C) encouragement of free movement of people
  D) encouragement of trade among member countries
  Show Answer
  The correct answer is A .
• Question 405: A form of money that has gone out of use is? Options:
  A) paper money
  B) bank money
  C) commodity money
  D) foreign money
  Show Answer
  The correct answer is C .
• Question 406: A demerit of communication is that it ________ Options:
  A) makes payment for goods cumbersome
  B) increase the cost of goods in transit
  C) give room for distortion of fact
  D) hinder quick reception of messages over a long distance
  Show Answer
  The correct answer is C .
• Question 407: A bill of exchange paid before its due date at an amount less than its face value is said to have been Options:
  A) accepted
  B) rejected
  C) discounted
  D) dishonoured
  Show Answer
  The correct answer is C .
• Question 408: The minimum lending rate of a bank is a component of its Options:
  A) current assets
  B) debit balances
  C) credit balance
  D) fixed assets
  Show Answer
  The correct answer is A .
• Question 409: An agreement between two parties which is enforceable by law is a? Options:
  A) promise
  B) warranty
  C) contract
  D) condition
  Show Answer
  The correct answer is C .
• Question 410: A business that focuses attention on the quality of the goods produced by precisely knowing what the consumers desire is said to be operation the Options:
  A) product mix
  B) promotion mix
  C) marketing concept
  D) product orientation.
  Show Answer
  The correct answer is C .