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 991: A wholesaler who possesses the title of goods he sells is known as? Options:
  A) a merchant wholesaler
  B) a multiple wholesaler
  C) a general wholesaler
  D) an agent wholesaler
  Show Answer
  The correct answer is A .
• Question 992:

  The process of buying, selling and distribution of goods and services is

  Options:
  A) marketing concept
  B) marketing
  C) retail trade
  D) commerce
  Show Answer
  The correct answer is D .
• Question 993:

  A group of companies is a collection of? 

  Options:
  A) subsidiaries and their holding company
  B) firms
  C) associates and their holding company
  D) industries
  Show Answer
  The correct answer is A .
• Question 994: 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 995: A firm that adapts itself to delivering the desired satisfaction more effectively than its competitors is said to be practicing? Options:
  A) price concept
  B) distribution concept
  C) product concept
  D) markting concept
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  The correct answer is D .
• Question 996: The lake Chad Basin commission was founded to enable member states Options:
  A) expand the volume of water in the lake for fishing activities
  B) increase navigational activities on the lake
  C) dam the lake for electricity and agricultural purposes
  D) co-ordinate their efforts in managing the use of the lake's resources
  Show Answer
  The correct answer is D .
• Question 997: The quality and quantity of production mostly depend on the? Options:
  A) effectiveness of factors
  B) availibility of factors
  C) level of education of enterpreneurs
  D) level of cooperation among workers
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  The correct answer is A .
• Question 998:

  Why is clear bill of lading called so?

  Options:
  A) It shows records of damaged goods
  B) It shows no records of damaged goods
  C) It is a clear bill
  D) It signifies no debt is owed
  Show Answer
  The correct answer is B .
• Question 999:

  The art of soap making is an example of

  Options:
  A) tertiary occupation
  B) construction occupation
  C) primary occupation
  D) secondary occupation
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  The correct answer is D .
• Question 1000: Goods imported into a country for the purpose of re-exporting attracts a rebate known as Options:
  A) customs draw back
  B) export royalty
  C) incentive
  D) export rebate
  Show Answer
  The correct answer is A .