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 1091:

  Services which are of absolute monopoly can best be provided by?

  Options:
  A) private companies
  B) limited liability
  C) public companies
  D) public enterprises
  Show Answer
  The correct answer is D .
• Question 1092: A contract which is devoid of legal effect is Options:
  A) void contract
  B) unenforceable contract
  C) voidable contract
  D) valid contract
  Show Answer
  The correct answer is C .
• Question 1093: One of the requirements necessary for setting up a business is? Options:
  A) registration
  B) advertisement
  C) knowledge of the business
  D) documentation
  Show Answer
  The correct answer is C .
• Question 1094: The factors essential for tourism are? Options:
  A) accessibility, capital, amenties, accessibility and scenery
  B) goods weather, amenties, accessibility and scenery
  C) amenties, capital, accessibility and markets
  D) good weather, capital, schools and scenery
  Show Answer
  The correct answer is B .
• Question 1095: Which of the following is a function of consumerism? Options:
  A) Protecting consumers' rights
  B) providing consumers' choice
  C) providing consumers' needs
  D) Making profiteering impossible
  Show Answer
  The correct answer is A .
• Question 1096: NACCIMA stands for Options:
  A) Nigerian-American Center for Culture,Civic, Industries, Minerals and Arts
  B) Nigerian Association for Culture ,Civic, Industries, Minerals and Arts
  C) National Agency for Culture, Civilization, Investment, Manufacturing, and Agriculture
  D) Nigerian association of Chambers of commerce, Industries, Mines and Agriculture
  Show Answer
  The correct answer is D .
• Question 1097: Charges for loans paid by commercial banks to the Central Bank of Nigeria are called? Options:
  A) bank rates
  B) credits charges
  C) interest rates
  D) bank charges
  Show Answer
  The correct answer is A .
• Question 1098:

  Use the information below to answer question 40 and 41.

  Musa rented a room to adamu for N1,500 and N1,000 part-payment was made. Adamu brought Audu and Jacob his friends to stay in the room.

  The two friends later paid balance of N500 to Musa.

  Who are the parties to the contract of renting the room?

  Options:
  A) Musa and Jacob
  B) Musa and Audu
  C) Adamu and Musa
  D) Audu and Jacob
  Show Answer
  The correct answer is C .
• Question 1099: The controllable variables that a firm uses to achieve its marketing objectives are called? Options:
  A) marketing principles
  B) marketing mix
  C) marketing concepts
  D) marketing functions
  Show Answer
  The correct answer is C .
• Question 1100: A computer component that decodes and interprets instructions and also directs program implementation is? Options:
  A) memory unit
  B) central processing unit
  C) control unit
  D) system unit
  Show Answer
  The correct answer is B .