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 1011: The world tourism organization has it headquarters in Options:
  A) New York
  B) Madrid
  C) Paris
  D) London
  Show Answer
  The correct answer is B .
• Question 1012: The main factors militating against the rapid growth of trade in Nigeria are? Options:
  A) inadequate transportation network and huge capital outlay
  B) lack of motivation and government attitude towards trade
  C) lacks of good transportation network and insecurity of investment
  D) huge capital outlay and government attitude to trade
  Show Answer
  The correct answer is C .
• Question 1013: 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
  Show Answer
  The correct answer is A .
• Question 1014: The conversion of raw materials into finished goods leads to the creation of? Options:
  A) form utility
  B) product utility
  C) possession utility
  D) place utility
  Show Answer
  The correct answer is A .
• Question 1015: Which of the following group of countries are members of the Niger Basin Commission? Options:
  A) The republic of Guinea, Burkina Faso and Nigeria
  B) Ghana, liberia, and the republic of Benin
  C) Mali, Liberia and Nigeria
  D) Ghana , Burkina Faso and Chad
  Show Answer
  The correct answer is A .
• Question 1016:

  The growth of commerce is not enhanced by

  Options:
  A) development of modern forms of production
  B) government participation in business
  C) high population growth
  D) low per capita income
  Show Answer
  The correct answer is D .
• Question 1017: The person who undertakes any risk in insurance business is known as Options:
  A) a broker
  B) an underwriter
  C) an insurer
  D) an actuary
  Show Answer
  The correct answer is B .
• Question 1018: Gilt-edged securities are issued mainly by Options:
  A) individuals
  B) non-governmental organisations
  C) Government
  D) multi-national companies
  Show Answer
  The correct answer is C .
• Question 1019: A common element in all contracts is? Options:
  A) offer
  B) consideration
  C) acceptance
  D) agreement
  Show Answer
  The correct answer is D .
• Question 1020: If a buyer is given 12.5% discount on N50,000 worth of goods, how much will he pay? Options:
  A) N56 250
  B) N43 750
  C) N43 250
  D) N6250
  Show Answer
  The correct answer is B .