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 981: One of the main obstacles of establishing the Niger River Basin Commission was to? Options:
  A) embark on a comprehensive survey of the available water resources
  B) carry research for the development of fresh water fisheries
  C) develop infrastructure to facilitate economic activities
  D) promotes trade among member-state to improve standards of living
  Show Answer
  The correct answer is C .
• Question 982:

  EXTERNAL ENVIRONMENT → INTERNAL ENVIRONMENT → EXTERNAL ENVIRONMENT

  Which of the following sequences can best fit into the structure above?

  Options:
  A) People → control → ideals
  B) Material → production → ideas
  C) Finance → marketing → production
  D) Material → production → product
  Show Answer
  The correct answer is D .
• Question 983: The limit of functions, activities and personnel that a supervisor can effectively manage in a business organization is? Options:
  A) span of control
  B) delegation of authority
  C) chain of command
  D) authority and rsesponsibility
  Show Answer
  The correct answer is C .
• Question 984:

  The three components of staffing are? 

  Options:
  A) recruitment, interview and appointment
  B) recruitment, selection and placement
  C) recruitment, test and placement
  D) recruitment, procurement and appointment
  Show Answer
  The correct answer is B .
• Question 985:

  You have just bought a new car. What Insurance policy will you take to cover it?

  Options:
  A) Accident Insurance
  B) Fire Insurance
  C) Marine Insurance
  D) Fidelity Guarantee Insurance
  Show Answer
  The correct answer is A .
• Question 986:

  A number of shipping lines operating on a certain route, which agree on a common policy regarding the conditions under which goods are to be carried

  Options:
  A) Cartel
  B) Conference
  C) Syndicate
  D) Trust
  Show Answer
  The correct answer is B .
• Question 987: A specialized institution in Nigeria that deals in capital investments in the form of stocks, share, bond and debentures is the? Options:
  A) Securities and Exchanfge commission
  B) commodity market
  C) Nigerian Stock Exchange
  D) Central Bank of Nigeria
  Show Answer
  The correct answer is A .
• Question 988: 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 989: The significance of money to modern economic system is that it? Options:
  A) is used as a means of payment
  B) promotes specialization and exchange
  C) measures value and promotes exchange
  D) causes inflation in the economy
  Show Answer
  The correct answer is C .
• Question 990: One of the major reasons for merger is to Options:
  A) reduce the number of unskilled manpower
  B) increase the number of skilled manpower
  C) prevent liquidation
  D) liberalize the market
  Show Answer
  The correct answer is C .