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 71: The factor of production that is subject to depreciation is? Options:
  A) capital
  B) land
  C) labour
  D) entrepreneur
  Show Answer
  The correct answer is A .
• Question 72: 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 73: The most important difference between community banks and peoples’ bank is that the? Options:
  A) latter is owned solely by government while the former are not
  B) former cater for ruler dwellers while the latter cater for both rural and urban dwellers
  C) former are service oriented while the latter are profit oriented
  D) latter advances loans to the public while former advance loans to the rural dwellers only.
  Show Answer
  The correct answer is A .
• Question 74:

  Given $\frac{\text{index of export price}}{\text{index of import price}}$ X $\frac{100}{1}$

  The formula above can be used to determine the

  Options:
  A) terms of payment
  B) balance of payments
  C) tearms of trade
  D) import tariffs
  Show Answer
  The correct answer is C .
• Question 75:

  A company which issues a promissory note in lieu of payment for goods purchased

  Options:
  A) Is not bound to renew the note before payment
  B) Can return the goods purchased and refuse to pay
  C) Can refuse to pay on due date since it is only a promise
  D) Is bound to redeem the note for cash on due date
  Show Answer
  The correct answer is D .
• Question 76: A per-requiste for admission into the Second Tier Securities Market is for a company to? Options:
  A) make 20% of its equity share available to the public for subscription
  B) have a minimum of 100 shareholders
  C) have a maximum of 100 shareholders
  D) make 10% of its equity share available to thee public for subscription
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  The correct answer is D .
• Question 77: The main objective of a trade association is to Options:
  A) protect its members against litigation
  B) boost the trade of its members
  C) secure credit for its members
  D) protect its members against victimization
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  The correct answer is D .
• Question 78: Stimulation of demand is a kind of communication in marketing which connotes? Options:
  A) personal selling
  B) sales promotion
  C) advertising
  D) merchandising
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  The correct answer is C .
• Question 79: Consumer rights include the right to? Options:
  A) credit
  B) free samples of a product
  C) redress
  D) a shre of profits
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  The correct answer is C .
• Question 80: Law-making is an example of? Options:
  A) indirect service
  B) commerical occupation
  C) direct service
  D) industrial occupation
  Show Answer
  The correct answer is C .