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 711:

  A country is said to be experiencing an unfavourable balance of trade if her

  Options:
  A) exports exceed imports
  B) visible imports exceeds Visible exports
  C) visible exports exceed visible imports
  D) imports and exports are equal
  Show Answer
  The correct answer is B .
• Question 712: The main role of advertising is to Options:
  A) convince prospective buyers to buy
  B) show the actual shape, form and colour of the products
  C) inform people where to obtain goods and services
  D) captured the attention of people
  Show Answer
  The correct answer is A .
• Question 713: The major responsibility of an entrepreneur is? Options:
  A) Employing all factors of production in the business
  B) coordinating and determining the proportion of what to produce
  C) planning and organizing all activities in the business
  D) directing and controlling all the affairs of the business
  Show Answer
  The correct answer is A .
• Question 714: Marketing differs from selling in that,the latter only creates Options:
  A) possession utility
  B) marginal utility
  C) form utility
  D) place utility
  Show Answer
  The correct answer is A .
• Question 715: The device which interprets and carries out the instructions presented to it by the computer program is known as? Options:
  A) software
  B) microprocessor
  C) mouse
  D) hard-disk
  Show Answer
  The correct answer is B .
• Question 716: The main advantage of using cinema as an advertising medium is that it is Options:
  A) cheap
  B) accurate
  C) accessible
  D) informative
  Show Answer
  The correct answer is C .
• Question 717: The application of division of labour should generally bring about Options:
  A) increase in the quantity of goods and service
  B) increase in the variety of goods and services
  C) cheapness of goods and services
  D) cost efficiency in the production of goods and services
  Show Answer
  The correct answer is A .
• Question 718: 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 719: The Stock Exchange is a market where? Options:
  A) long-term securities are sold
  B) all types of securities are sold
  C) short-term securities are sold
  D) medium-term securities are sold
  Show Answer
  The correct answer is B .
• Question 720: An association of voluntary organizations that work together for a common aim while retaining their independence is a Options:
  A) syndicate
  B) merger
  C) cartel
  D) consortium
  Show Answer
  The correct answer is C .