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 1551: A broker is an agent who links a potential investor with? Options:
  A) a shareholder who wants to register a company
  B) other members of the exchange who want to trade
  C) governement official on the exchange
  D) a quoted company
  Show Answer
  The correct answer is D .
• Question 1552: The difference between personal selling and sales promotion is that while sales promotion includes free gifts and samples, personal selling involves? Options:
  A) distributing instructional posters
  B) face-to-face communication with customers
  C) premium programming for customers
  D) publishing promotional booklets
  Show Answer
  The correct answer is B .
• Question 1553: The turnover of firm maybe affected by Options:
  A) the demand for its product
  B) the cost of its goods sold
  C) its closing stock
  D) its net assets
  Show Answer
  The correct answer is A .
• Question 1554: Berne union is also known as Options:
  A) International Credit Union
  B) International Documentry Credit
  C) International Union of Credit and Investment Insurers
  D) export Credit Guarantee Scheme
  Show Answer
  The correct answer is C .
• Question 1555: The market where only indigenous firms are considered is the? Options:
  A) money market
  B) second-tier securities market
  C) local market
  D) stock exchange
  Show Answer
  The correct answer is B .
• Question 1556: The document a seller uses in dispatching goods to a customer by a carrier is Options:
  A) a bill of landing
  B) an invoice
  C) an advice note
  D) a delivery note
  Show Answer
  The correct answer is D .
• Question 1557: The government agency involved in issuing of export licences is _______? Options:
  A) Nigeria Export Processing Zone
  B) Nigeria Export Promotion council
  C) Nigeria Port Authority
  D) Customs and Excise Authority
  Show Answer
  The correct answer is B .
• Question 1558: The protection of consumers against exploitation by manufacturers is to ensure? Options:
  A) thaty there are varieties of product
  B) that the right quality of goods and services is sold
  C) increase in production capacity
  D) increase in the level of consumers awareness
  Show Answer
  The correct answer is B .
• Question 1559:

  The activity which entails buying of goods in bulk and selling in small quantities to retailers is

  Options:
  A) wholesaling
  B) retailing
  C) merchandising
  D) assembling
  Show Answer
  The correct answer is A .
• Question 1560: 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 .