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 1221:

  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 1222: Selling goods in foreign countries at price below their marginal cost is? Options:
  A) dumping
  B) depreciation
  C) devaluation
  D) discounting
  Show Answer
  The correct answer is A .
• Question 1223: A guarantee given by one person or party to another in which the integrity of the person is assured is? Options:
  A) fidelity
  B) term assurance
  C) subrogation
  D) indemnity
  Show Answer
  The correct answer is A .
• Question 1224: A good financial instrument which serves as a hedge against inflation is? Options:
  A) a bond
  B) a share
  C) an opion
  D) a warrant
  Show Answer
  The correct answer is A .
• Question 1225: The instrument used in the capital market is? Options:
  A) treasury bills
  B) bill of exchange
  C) stock
  D) debenture
  Show Answer
  The correct answer is C .
• Question 1226: Banks are engaged in the business of buying and selling of? Options:
  A) bills of exchange
  B) instruments of credit
  C) intangible products
  D) land
  Show Answer
  The correct answer is A .
• Question 1227: Which of the following is an example of trade associations? Options:
  A) European Union
  B) National Marketing Board
  C) Organization of African Unity
  D) National Farmers' Council
  Show Answer
  The correct answer is B .
• Question 1228:

  

  In the communication process. Y represents

  Options:
  A) the encoder
  B) the medium
  C) the initator
  D) noise
  Show Answer
  The correct answer is C .
• Question 1229:

  An announcement of a person's willingness to enter into a contract is referred to as

  Options:
  A) an acceptance
  B) a proxy
  C) consideration
  D) an offer
  Show Answer
  The correct answer is D .
• Question 1230: In which of the following will the numbers of words used determine the cost of the message sent? Options:
  A) Telephone
  B) Telegram
  C) E-mail
  D) Telex
  Show Answer
  The correct answer is B .