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 1: An example of a cartel is? Options:
  A) OPEC
  B) ECOWAS
  C) AU
  D) EU
  Show Answer
  The correct answer is A .
• Question 2: Capital to a business is technically? Options:
  A) an expense
  B) availiability of local market
  C) an assets
  D) a porfit
  Show Answer
  The correct answer is C .
• Question 3:

  Which of the following has power to order withdrawal of a particular food item from circulation?

  Options:
  A) Federal High Courts in Nigeria
  B) Standard Organization of Nigeria
  C) Local Government Health Inspectors
  D) Food and Drugs Department of the Federal Ministry of Health
  Show Answer
  The correct answer is C .
• Question 4:

  Which of these is a document used in International trade?

  Options:
  A) Debit note
  B) Credit note
  C) Invoice
  D) Price ring
  Show Answer
  The correct answer is C .
• Question 5: One of the functions of the wholesaler is to? Options:
  A) forecast prices
  B) reduce prices of goods
  C) promote sales
  D) analyse sales periodically
  Show Answer
  The correct answer is C .
• Question 6: The physical components of a computer system refers to the? Options:
  A) system unit
  B) hardware
  C) software
  D) compact disk
  Show Answer
  The correct answer is B .
• Question 7:

  The face-to-face meeting of the seller with the buyer for the purpose of making sales is

  Options:
  A) mass selling
  B) impulse buying
  C) personal selling
  D) sale promotion
  Show Answer
  The correct answer is C .
• Question 8: An important principle of a good organization structure is Options:
  A) ideal standard
  B) span control
  C) clarity of mission
  D) adequacy resources
  Show Answer
  The correct answer is B .
• Question 9:

  Which of these is not a merit of division of labour

  Options:
  A) results in specialization
  B) brings about an element of automation
  C) Training in new jobs is facilitated
  D) Creates monotony in the work force
  Show Answer
  The correct answer is D .
• Question 10: Ships that sail across the ocean and operate on scheduled time tables are? Options:
  A) ferries
  B) ocean liners
  C) tramp steamers
  D) coastal liners
  Show Answer
  The correct answer is B .