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 721: The major determinant of fire insurance premium is the Options:
  A) Owner of the property
  B) usefulness of the property to the owner
  C) Type and structure of the property to be insured
  D) extent of fire damaged anticipated.
  Show Answer
  The correct answer is C .
• Question 722: Which of these sets of external environmental factors affects a business operation? Options:
  A) Competition, industry operation
  B) Competition, labour and political
  C) Political, cultural and labour
  D) Economic, social and legal
  Show Answer
  The correct answer is D .
• Question 723: At the collapse of a business enterprises, the person appointed to dispose off the assets is called ________? Options:
  A) an auctioneer
  B) a broker
  C) a liquidator
  D) an auditor
  Show Answer
  The correct answer is A .
• Question 724: 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 725: Spot market goods are those which are available for Options:
  A) immidiate delivery
  B) short-term delivery
  C) long-term delivery
  D) end of the delivery
  Show Answer
  The correct answer is A .
• Question 726: The main requirement for admission to the second-tier securities markets is the? Options:
  A) provision of a three-year trading record
  B) disclosure of all trading activities
  C) creation of a good atmosphere for growth and development
  D) guranteeing dividends to shareholders
  Show Answer
  The correct answer is B .
• Question 727: The oral presentation iv a conversation with one or more prospective buyers for the purpose of making sales is Options:
  A) branding of goods
  B) personal selling
  C) packaging
  D) publicity
  Show Answer
  The correct answer is B .
• Question 728: The development of commerce resulted from? Options:
  A) trading
  B) competition
  C) importation
  D) specialization
  Show Answer
  The correct answer is A .
• Question 729: Which oft these factors of production is relatively fixed in supply? Options:
  A) Capital
  B) Enterpreneuer
  C) Human resources
  D) Natural resources
  Show Answer
  The correct answer is D .
• Question 730: What is the reward accruable to land? Options:
  A) Rent
  B) profits
  C) wages
  D) Interest
  Show Answer
  The correct answer is A .