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 161:

  A business unit in which savings of members are lent to others is a

  Options:
  A) consumer cooperative society
  B) producer cooperative society
  C) credit and thrift society
  D) wholesale cooperative society
  Show Answer
  The correct answer is C .
• Question 162: The factor of production that is relatively indestructible and immobile is _______? Options:
  A) capital
  B) labour
  C) land
  D) rent
  Show Answer
  The correct answer is A .
• Question 163: The significance of money to modern economic system is that it? Options:
  A) is used as a means of payment
  B) promotes specialization and exchange
  C) measures value and promotes exchange
  D) causes inflation in the economy
  Show Answer
  The correct answer is C .
• Question 164:

  The four P's of marketing are also known as

  Options:
  A) marketing mix
  B) product mix
  C) promotion mix
  D) advertising mix
  Show Answer
  The correct answer is A .
• Question 165:

  EXTERNAL ENVIRONMENT → INTERNAL ENVIRONMENT → EXTERNAL ENVIRONMENT

  Which of the following sequences can best fit into the structure above?

  Options:
  A) People → control → ideals
  B) Material → production → ideas
  C) Finance → marketing → production
  D) Material → production → product
  Show Answer
  The correct answer is D .
• Question 166: The most important right of the employee in discharging his duties to the employer is the right to? Options:
  A) regular emolument
  B) job security
  C) working facilities
  D) annual leave
  Show Answer
  The correct answer is B .
• Question 167: A contract can be terminated through Options:
  A) physical combat
  B) family intervention
  C) frustration
  D) consultation
  Show Answer
  The correct answer is C .
• Question 168: The term free on board means that the price includes? Options:
  A) costs and insurance only
  B) costs and freight only
  C) freight and insurance only
  D) costs, insurance and freight
  Show Answer
  The correct answer is D .
• Question 169: The document issued by a port authority for goods deposited is a Options:
  A) bill of lading
  B) bill of sight
  C) consular invoice
  D) warehouse warrant
  Show Answer
  The correct answer is D .
• Question 170: The mode of transporting crude oil to the ports for export purposes is by Options:
  A) tanker
  B) rail
  C) road
  D) pipeline
  Show Answer
  The correct answer is D .