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 971: The scope of economic activities can be enlarged by Options:
  A) transportation and trading
  B) business and its promotion
  C) trading and aids to trade
  D) insurance and banking
  Show Answer
  The correct answer is C .
• Question 972: Stevedores as a term in foreign trade means men who Options:
  A) inspect goods in ships
  B) import goods by ships
  C) collect duties in ships
  D) load and unload ships
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  The correct answer is D .
• Question 973: The main advantage of using cinema as an advertising medium is that it is Options:
  A) cheap
  B) accurate
  C) accessible
  D) informative
  Show Answer
  The correct answer is C .
• Question 974: The most important reason for the existence of insurance business is to? Options:
  A) prevent the occurrence of any loss
  B) spread losses to all covered participants
  C) provide for the replacement of facilities
  D) encourage individuals to save
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  The correct answer is B .
• Question 975:

  Which function of money is described in the following statement?

  It serves as a medium through which business transactions are carried out

  Options:
  A) Standard for deferred payments s
  B) Medium of exchange
  C) Store of value
  D) Unit of account
  Show Answer
  The correct answer is A .
• Question 976: The major factors that facilitate merchandising are Options:
  A) commuincation , advertising and banking
  B) trading, warehousing and production
  C) management, insurance, and advertising
  D) banking, insurance and transportation
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  The correct answer is D .
• Question 977: A disadvantage of personal selling is that it Options:
  A) increase a company's operating cost
  B) decreases acompany's operating cost
  C) increase a company's number of customers
  D) reduces a company's area of patronage
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  The correct answer is D .
• Question 978:

  Which of the following is not a right of a consumer?

  Options:
  A) Right to a fair hearing
  B) Right to buy on credit
  C) Right to obtain replacement
  D) Right to safe product
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  The correct answer is B .
• Question 979: Which of the following legislation aims primarily at the protection of consumers? Options:
  A) Law of contract
  B) Trade description Act
  C) Company's Act
  D) Partnership Act
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  The correct answer is B .
• Question 980: The final link in the chain of distribution is Options:
  A) middlemen
  B) whole saling
  C) consumer
  D) retailing
  Show Answer
  The correct answer is C .