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 101:

  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 102: 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 103: The development of a continer and a graphic design for a product is called? Options:
  A) packaging
  B) promotion
  C) processing
  D) production
  Show Answer
  The correct answer is A .
• Question 104:

  A pro forma invoice is sent to inform a buyer about the?

  Options:
  A) quantity of goods
  B) price of goods
  C) designation of goods
  D) quality of goods
  Show Answer
  The correct answer is B .
• Question 105: A historical building is a feature of? Options:
  A) cultural tourism
  B) industrial tourism
  C) agricultural tourism
  D) ecological tourism
  Show Answer
  The correct answer is A .
• Question 106: The concept which focuses on consumers in decision-making is? Options:
  A) selling concept
  B) marketing concept
  C) product concept
  D) production concept
  Show Answer
  The correct answer is B .
• Question 107: The most important attributes in a sale of goods contract are? Options:
  A) offer and consideration
  B) price and goods
  C) offer and acceptance
  D) demand and supply
  Show Answer
  The correct answer is C .
• Question 108: Consumer rights include the right to? Options:
  A) credit
  B) free samples of a product
  C) redress
  D) a shre of profits
  Show Answer
  The correct answer is C .
• Question 109:

  Which of the following activities is not an example of the extractive industry?

  Options:
  A) weaving
  B) quarrying
  C) hunting
  D) fishing
  Show Answer
  The correct answer is A .
• Question 110:

  Consumers could be encouraged to purchase a company's product through

  Options:
  A) research
  B) planning
  C) distribution
  D) advertisement
  Show Answer
  The correct answer is D .