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 651: The concept that refers to the sale, transfer or exchange of goods and service is? Options:
  A) industry
  B) trade
  C) tariff
  D) marketing
  Show Answer
  The correct answer is B .
• Question 652: 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 653: One important requirement for the membership of the ECOWAS is? Options:
  A) intergrity
  B) independence
  C) landmass
  D) population
  Show Answer
  The correct answer is B .
• Question 654:

  A retail store that sells a single product from a particular manufacturer is a

  Options:
  A) tied shop
  B) shopping mail
  C) hypermarket
  D) chain store
  Show Answer
  The correct answer is D .
• Question 655:

  

  Use the information above to answer this question.

  What is the ratio?

  Options:
  A) 2.95:1
  B) 4.25:1
  C) 4.75:1
  D) 5,55:1
  Show Answer
  The correct answer is A .
• Question 656: Musa obtains wool from his sheep, spins and transform it into cloth which he sells to consumers, this is a form of Options:
  A) Vertical integration
  B) Horizontal integration
  C) Forward Integration
  D) Background integration
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  The correct answer is A .
• Question 657: An invoice can be described as a Options:
  A) contractual agreement for the sale of goods
  B) document specifying quantity, description, prices and total value of purchase
  C) receipt containing necessary information about the goods
  D) letter specifying the contractual sales of goods between two parties
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  The correct answer is B .
• Question 658: The factor of production that is relatively indestructible and immobile is _______? Options:
  A) capital
  B) labour
  C) land
  D) rent
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  The correct answer is A .
• Question 659: Which of the following are forms of sales promotion? Options:
  A) advertising, personal selling and publicity
  B) advertising, market skimming and publicity
  C) personal selling, packaging and publicity
  D) advertising, packaging and publicity
  Show Answer
  The correct answer is A .
• Question 660: The second tier security market is Options:
  A) an appendage to the Nigeria stock exchange
  B) a member of the Nigeria stock exchange
  C) meant for the shares of quoted private companies
  D) a regulating arm of the Nigerian stock exchange
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  The correct answer is B .