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 921:

  The above chart represents the

  Options:
  A) Marketing mix relationship
  B) Product mix relationship
  C) Advertising mix relationship
  D) Promotion mix relationship
  Show Answer
  The correct answer is A .
• Question 922: An important feature of land is that it Options:
  A) has an elastic supply
  B) is an active factor of production
  C) is heterogenous in nature
  D) is subject to returns to scale
  Show Answer
  The correct answer is B .
• Question 923: The major components of modern retailing include? Options:
  A) branding, doorstep selling and customer stimulation
  B) branding, sales promotion and mail order
  C) chain store, customer stimulating and doorstep selling
  D) branding, supermarkets and after sales-service
  Show Answer
  The correct answer is D .
• Question 924: Service which are of absolute monopoly can can best be proved by Options:
  A) private companies
  B) limited liability companies
  C) public companies
  D) public enterprises
  Show Answer
  The correct answer is D .
• Question 925: Which of the following is a form of sales promotion Options:
  A) advertising on radio
  B) offering free sample
  C) distributing printed materials
  D) advertising on television
  Show Answer
  The correct answer is B .
• Question 926: Sole enterprise may flourish best in Options:
  A) a mining business
  B) a retailing business
  C) an oil exploration business
  D) a car assembly business
  Show Answer
  The correct answer is B .
• Question 927: When one person approves an act previously done by another in the former's name without authority, this is known as? Options:
  A) ratification
  B) estoppel
  C) illegality
  D) misrepresentation
  Show Answer
  The correct answer is B .
• Question 928:

  A country's visible balance of payment is made up of

  Options:
  A) interest on loans to foreign countries
  B) profit from investment abroad
  C) earnings from goods exported
  D) dividend earned from companies
  Show Answer
  The correct answer is C .
• Question 929: One of the obligations of an employer to an employee is to? Options:
  A) indemnify him against liabilities incurred on duty
  B) award scholarship to his children
  C) terminate his appointment without prior notice
  D) indemnity himagainst injuries caused through negligence
  Show Answer
  The correct answer is A .
• Question 930:

  The payment made periodically in respect of an insurance policy entered into is known as

  Options:
  A) surrender
  B) bond
  C) premium
  D) commission
  Show Answer
  The correct answer is C .