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 61: An important issue for consideration in the product element of the marketing mix is the? Options:
  A) adequate of the peroduct
  B) channel of diistribution of the product
  C) price of the product
  D) planing and development of the product
  Show Answer
  The correct answer is D .
• Question 62: In a staff-authority relationship, the opinion of a specialist in one department to another is Options:
  A) a directive
  B) an advice
  C) a command
  D) a delegation
  Show Answer
  The correct answer is B .
• Question 63: An essential factor for evaluating the different sources of funds for a business is the? Options:
  A) decree establishing the business
  B) ownership structure of the business concern
  C) size and the type of the business
  D) burden of cost and repayment
  Show Answer
  The correct answer is B .
• Question 64: The business environment that takes into cognizance the age distribution ethnic mix and educational level of the consumer is Options:
  A) Natural Environment
  B) Cultural environment
  C) Economic environment
  D) Demographic Environment
  Show Answer
  The correct answer is D .
• Question 65: An arrangement by independent firms to share the market of their products on quota basis is referred to as? Options:
  A) trust
  B) integration
  C) syndicate
  D) cartel
  Show Answer
  The correct answer is C .
• Question 66:

  A discount deducted from the invoice price of goods to enable the retailer to make profit

  Options:
  A) cash discount
  B) functional discount
  C) trade discount
  D) seasonal discount
  Show Answer
  The correct answer is A .
• Question 67:

  Thee major aim of consumer orientation is_________

  Options:
  A) consumer satisfaction
  B) consumer sovereignty
  C) what to produce
  D) market research
  Show Answer
  The correct answer is A .
• Question 68: The agreement of insurers to spread risks among themselves is a major feature of? Options:
  A) reinsurance
  B) life insurance
  C) underwriter
  D) marine insurance
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  The correct answer is A .
• Question 69: The difference between the buying and selling price of shares is known as? Options:
  A) brokerage
  B) margin
  C) jobber's turn
  D) gross profit
  Show Answer
  The correct answer is C .
• Question 70: The insurance policy which provides full cover against all risks at sea is known as Options:
  A) Policy with Particular Average
  B) Policy Free of Particular Average
  C) Marine Freight Insurance
  D) Marine Voyage Policy Insurance
  Show Answer
  The correct answer is D .