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 481:

  Consumer sovereignty means that the consumer is?

  Options:
  A) a citizen
  B) always independent
  C) always wrong
  D) always right
  Show Answer
  The correct answer is D .
• Question 482:

  The provision of services is classified under

  Options:
  A) batch production
  B) flow production
  C) secondary production
  D) tertiary production
  Show Answer
  The correct answer is D .
• Question 483: The mode of transporting crude oil to the ports for export purposes is by Options:
  A) tanker
  B) rail
  C) road
  D) pipeline
  Show Answer
  The correct answer is D .
• Question 484: An agent who brings a customer into business contact with his principle is known as? Options:
  A) a del credere agent
  B) an auctioneer
  C) a factor
  D) a broker
  Show Answer
  The correct answer is D .
• Question 485: Product X was introduced into the market at N4.00 with its cost of product at N3.90 while competing products are at N4.50. What pricing policy are producers of X adopting? Options:
  A) market skimming
  B) market penetration
  C) product live promotion
  D) above the market pricing
  Show Answer
  The correct answer is A .
• Question 486:

  A proforma invoice is not required when

  Options:
  A) quoting for the supply of good
  B) dealing regularly with a customer
  C) goods are sent on approval
  D) final prices are uncertain
  Show Answer
  The correct answer is B .
• Question 487: The safety and quality of products are the social responsibility of? Options:
  A) the Standards Organization of Nigeria
  B) the Manufacturers' Association of Nigeria
  C) the Corporate Affairs Commission
  D) business organizations
  Show Answer
  The correct answer is A .
• Question 488: A group of computers that exchange data is referred to as Options:
  A) an information bank
  B) a network
  C) a database
  D) an intranet site
  Show Answer
  The correct answer is B .
• Question 489:

  Use this information to answer the question below.

  Aboki Plc became insolvent and decided to wind up to meet the legitimate claims of its creditors. Babalawee was called in to manage the dissolution.

  Babalawee is ___________?

  Options:
  A) a claimant
  B) a manager
  C) an assessor
  D) a reciever
  Show Answer
  The correct answer is D .
• Question 490:

  One of the disadvantages of Sole Proprietorship is__________

  Options:
  A) It requires small operations
  B) It involves small capital
  C) It lacks specialization
  D) Grants from government
  Show Answer
  The correct answer is C .