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 1911: The ECOBANK is the initiative of? Options:
  A) some well-meaning Nigerian shareholders
  B) the Federal Government of Nigeria
  C) West African states tto foster trade
  D) the Lagos State Governement to enhance capital mobilization
  Show Answer
  The correct answer is C .
• Question 1912:

  The type of communication from a superior to a subordinate in an organization is referredto as

  Options:
  A) downward communication
  B) upward communication
  C) lateral communication
  D) horizontal communication
  Show Answer
  The correct answer is A .
• Question 1913: In business, the computer is very important especially in? Options:
  A) financial amnagement
  B) marketing management
  C) educational management
  D) information management
  Show Answer
  The correct answer is D .
• Question 1914: The document which can be exchange for a bill of lading is? Options:
  A) freight note
  B) mate receipt
  C) export invoice
  D) ship report
  Show Answer
  The correct answer is A .
• Question 1915: Which of these sets of external environmental factors affects a business operation? Options:
  A) Competition, industry operation
  B) Competition, labour and political
  C) Political, cultural and labour
  D) Economic, social and legal
  Show Answer
  The correct answer is D .
• Question 1916:

  In the law of contact, a counter offer operates as

  Options:
  A) A contact
  B) an acceptance
  C) a rejection
  D) a rejection
  Show Answer
  The correct answer is D .
• Question 1917: An important feature of land is that it Options:
  A) has an elastic supply
  B) is an active factor of production
  C) is heterogenous in nature
  D) is subject to returns to scale
  Show Answer
  The correct answer is B .
• Question 1918:

  The type of communication from a superior to a subordinate in an organization is referredto as

  Options:
  A) downward communication
  B) upward communication
  C) lateral communication
  D) horizontal communication
  Show Answer
  The correct answer is A .
• Question 1919: Factors considered when setting up a retail business is one of the following _________ Options:
  A) capital, experience and trading
  B) experience, term of trade, and trading
  C) capital, trading and term of trade
  D) capital, type of goods and source of supply
  Show Answer
  The correct answer is D .
• Question 1920: The evolution of commerce in Nigeria is traceable to the? Options:
  A) period of barter economy as human needs became limitless
  B) desire by human beings to satify their needs through the services of other people inthe society
  C) development of human civlizations and the desire to meet their needs
  D) primitive stage of existence of human beings
  Show Answer
  The correct answer is B .