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 1131: The right of an insurance company to stand in place of an insured against a third party , who is liable for the occurrence of a loss, is the principle of Options:
  A) proximate cause
  B) insurable interest
  C) insurance priority
  D) subrogation
  Show Answer
  The correct answer is C .
• Question 1132:

  Which of the following is not an objective of ECOWAS?

  Options:
  A) promotion of a common language
  B) improvement of infrastructural facilities
  C) encouragement of free movement of people
  D) encouragement of trade among member countries
  Show Answer
  The correct answer is A .
• Question 1133:

  One of the disadvantages of rail transport is

  Options:
  A) It is not flexible
  B) It carries bulky goods
  C) It works at intervals
  D) Cost of transportation is high
  Show Answer
  The correct answer is A .
• Question 1134: The creation of utilities is to satisfy human wants is referred to as? Options:
  A) production
  B) consumption
  C) industrialization
  D) occupation
  Show Answer
  The correct answer is A .
• Question 1135: The main objective of a trade association can best be described as promoting and protecting Options:
  A) the products
  B) common interest
  C) the market
  D) customer's interest
  Show Answer
  The correct answer is D .
• Question 1136: A computer that can be used in weather forecast is? Options:
  A) a hybrid computer
  B) an analog computer
  C) a marineframe computer
  D) a digital computer
  Show Answer
  The correct answer is D .
• Question 1137: An obstacle to international trade is? Options:
  A) trade imbalance between countries
  B) availiability of local market
  C) quantity and quality of labour
  D) cost of finance
  Show Answer
  The correct answer is D .
• Question 1138: An objective of the farmers' association is to? Options:
  A) ensure that the prices of goods are fair and reasonable
  B) correct the imbalance between consumers and producers
  C) improve the methods of selling and advertising
  D) provide a stable market outlet for farm inputs
  Show Answer
  The correct answer is A .
• Question 1139:

  One advantage of small scale retail outlets is

  Options:
  A) availability of self service facilities
  B) ability to buy in bulk
  C) easy acess to large amount of capital
  D) personal attention to customers
  Show Answer
  The correct answer is D .
• Question 1140: An author’s exclusive righto his published and unpublished works is known as? Options:
  A) authors right
  B) constitution right
  C) patent right
  D) copyright
  Show Answer
  The correct answer is D .