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 41: The art of soaping-making is an example of? Options:
  A) primary occupation
  B) secondary occcupation
  C) tertiary occupation
  D) construction occupation
  Show Answer
  The correct answer is B .
• Question 42:

  Examples of current assets are

  Options:
  A) cash and trade debtors
  B) cash and trade creditors
  C) trade debtors, trade creditors and cash
  D) trade creditors and trade debtors
  Show Answer
  The correct answer is A .
• Question 43: The reduction of import duties among the members countries of ECOWAS is an example of Options:
  A) preference duties
  B) preferential treatment
  C) preferential tariff
  D) preferential excise
  Show Answer
  The correct answer is C .
• Question 44: Most of the barriers to international trade have been eliminated through? Options:
  A) diversification
  B) globalization
  C) commercialization
  D) privatization
  Show Answer
  The correct answer is B .
• Question 45: The Nigerian Telecommunications Limited is a? Options:
  A) jointly owned company
  B) public corpoation
  C) privately owned company
  D) public company
  Show Answer
  The correct answer is B .
• Question 46: The proposed monetary integration within ECOWAS sub-region has the overriding benefit of a Options:
  A) improved exchange
  B) enhanced trade
  C) enhance development
  D) improved relations
  Show Answer
  The correct answer is B .
• Question 47: The main frame of selling directly to the consumers by manufacturers is to? Options:
  A) reduce transportation cost
  B) make contact with individual consumers
  C) discourage the activities of middlemen
  D) maximize profit margin
  Show Answer
  The correct answer is C .
• Question 48: The sale of of foreign investment and gold reserves can be used to? Options:
  A) correct adverse balance of trade
  B) increase invisible imports
  C) correct adverse balance of payment
  D) correct a budget deficit
  Show Answer
  The correct answer is A .
• Question 49:

  Which of the following are the components ofcommerce?

  I. trading and advertising
  II. warehousing and transportation
  III. packing and branding
  IV. Insurance and banking

  Options:
  A) I and II
  B) I,II and IV
  C) II, III and IV
  D) I and III
  Show Answer
  The correct answer is B .
• Question 50: A sole proprietor insured his goods worth N200,000 for half the value. There was a fire accident in which goods valued N80,000 were destroyed. The value of compensation expected from the insurer is Options:
  A) N40,000
  B) N80,000
  C) N100,000
  D) N200,000
  Show Answer
  The correct answer is C .