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 daily official publications of the Nigeria Stock Exchange give detailed information on the? Options:
  A) changes in the official rules set by the market
  B) method of transactions agreed upon by members
  C) participation of members in a day
  D) changes in the price of securities
  Show Answer
  The correct answer is C .
• Question 722: A warehouse which is used to store goods whose customs duty is not yet paid is a? Options:
  A) wholesale warehouse
  B) bonded warehouse
  C) public warehouse
  D) branded warehouse
  Show Answer
  The correct answer is B .
• Question 723: The purchase of goods under the CWO system of payment implies that? Options:
  A) money must be enclosed when ordering
  B) payment must be made on delivery
  C) payment must be made within few days
  D) cash must be paid on the spot
  Show Answer
  The correct answer is B .
• Question 724: What document is required when a country imposes valorem import duties on goods? Options:
  A) mail transfer
  B) shipping note
  C) bill of lading
  D) consular invoice
  Show Answer
  The correct answer is B .
• Question 725: A firm that adapts itself to delivering the desired satisfaction more effectively than its competitors is said to be practicing? Options:
  A) price concept
  B) distribution concept
  C) product concept
  D) markting concept
  Show Answer
  The correct answer is D .
• Question 726:

  The three components of staffing are? 

  Options:
  A) recruitment, interview and appointment
  B) recruitment, selection and placement
  C) recruitment, test and placement
  D) recruitment, procurement and appointment
  Show Answer
  The correct answer is B .
• Question 727: The making of doors from timber planks is a type of? Options:
  A) manufacturing
  B) tertiary production
  C) secondary produuction
  D) primary production
  Show Answer
  The correct answer is C .
• Question 728:

  The marketing term which regards the consumer as king that must be satisfied is

  Options:
  A) market segmentation
  B) market research
  C) marketing concept
  D) marketing mix
  Show Answer
  The correct answer is C .
• Question 729: A major objective of all business resources is ______ Options:
  A) public relation
  B) profit sharing
  C) human relation
  D) profit making
  Show Answer
  The correct answer is D .
• Question 730:

  Which of the following is not a component of the marketing mix?

  Options:
  A) product
  B) production
  C) promotion
  D) place
  Show Answer
  The correct answer is B .