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 731: Citizens are against privatization mainly because of Options:
  A) Ineffective Management
  B) The likely hood of monopoly
  C) Increased price of good and services
  D) The ration dilation of organizations.
  Show Answer
  The correct answer is C .
• Question 732: The insurance principle that requires full disclosure of information on the insured is known as Options:
  A) indemnity
  B) uberrimae fidei
  C) subrogation
  D) caveat emptor
  Show Answer
  The correct answer is B .
• Question 733:

  The central working system of a computer used for data processing is the

  Options:
  A) monitor
  B) floppy disk drive
  C) hard drive
  D) memory unit
  Show Answer
  The correct answer is D .
• Question 734: The label on a product such as 'pampers' is atype of? Options:
  A) trademark
  B) branding
  C) packaging
  D) patent right
  Show Answer
  The correct answer is A .
• Question 735: Which of these insurance principles requires a close connection between the actual loss suffered and the risk insured? Options:
  A) indemnity
  B) proximate cause
  C) Contribution
  D) Subrogation
  Show Answer
  The correct answer is B .
• Question 736:

  Given:
  Opening stock: ₦40 000
  Purchases: ₦115 000
  Closing stock: ₦60 000
  Sales: ₦250 000

  What is the cost of goods sold?

  Options:
  A) ₦155 000
  B) ₦95 000
  C) ₦50 000
  D) ₦30 000
  Show Answer
  The correct answer is B .
• Question 737: The practice whereby soft drink manufacturers give away caps, bags and other items when consumers buy their product is a form of Options:
  A) marketing strategies
  B) publicity
  C) advertising
  D) saels promotion
  Show Answer
  The correct answer is D .
• Question 738: An example of a consumer protection agency is the? Options:
  A) Nigeria Bar association
  B) Nigeria Medical Association
  C) Ferderal Environmental Protection Agency
  D) Manufacturers Association of Nigeria
  Show Answer
  The correct answer is C .
• Question 739: A major advantage of a cooperative society is that it? Options:
  A) gives members the opportunity to unite
  B) draws members closer to government
  C) promotes awareness among members
  D) encourages thirft among members
  Show Answer
  The correct answer is D .
• Question 740: The mode of transportation that conveys a limited variety of products through fixed laid routes is? Options:
  A) waterways
  B) road
  C) rail
  D) pipeline
  Show Answer
  The correct answer is D .