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 961:

  What are the factors with which commercial undertaking can be distinguish?

  I Size of the undertaking

  II Profits generated

  III Forms of ownership

  IV Location of the undertaking

  Options:
  A) I and II only
  B) I andIII only
  C) II and III only
  D) III and IV only
  Show Answer
  The correct answer is B .
• Question 962: A printer that burns the print image onto the photosensitive drum is called Options:
  A) dot matrix printer
  B) daisy wheel printer
  C) laser printer
  D) thermal printer
  Show Answer
  The correct answer is C .
• Question 963: In Nigeria, the body ensures that its members operate according to their professional ethics is the? Options:
  A) SON
  B) NPF
  C) MAN
  D) NAFDAC
  Show Answer
  The correct answer is A .
• Question 964:

  A doctor who attends to patients at home after his official duty is

  Options:
  A) a direct and indirect service worker
  B) a direct service worker
  C) an indirect service worker
  D) a community developer
  Show Answer
  The correct answer is B .
• Question 965: Product X was introduced into the market at N4.00 with its cost of product at N3.90 while competing products are at N4.50. What pricing policy are producers of X adopting? Options:
  A) market skimming
  B) market penetration
  C) product live promotion
  D) above the market pricing
  Show Answer
  The correct answer is A .
• Question 966: Consumers require protection against exploitation to ensure? Options:
  A) adequate consumer awareness
  B) availability of products variety
  C) the sale of quality products
  D) increased aggregate demand
  Show Answer
  The correct answer is C .
• Question 967: In every simple contract, the price which is paid to purchase a promise is called Options:
  A) offeree
  B) acceptance
  C) consideration
  D) representation
  Show Answer
  The correct answer is C .
• Question 968: Money is generally accepted for transactions due to Options:
  A) the legal backing
  B) the rule of law
  C) its acceptability in the global market
  D) the Central Bank Governor's signature
  Show Answer
  The correct answer is A .
• Question 969:

  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 .
• Question 970: The documents used in the purchase and sale of goods which contain other terms of trade are? Options:
  A) debit note and credit note
  B) delivery note and advice nopt
  C) invoice and order
  D) quotation and invoice
  Show Answer
  The correct answer is C .