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 2031: Land as a factor of production does not vary in _______ Options:
  A) quantity
  B) nature
  C) quality
  D) cost
  Show Answer
  The correct answer is B .
• Question 2032:

  The satisfaction of consumer is best explained by

  Options:
  A) Product mix
  B) Marketing concept
  C) marketing mix
  D) market segmentation
  Show Answer
  The correct answer is B .
• Question 2033:

  The function of a merchant wholesaler is to

  Options:
  A) find markets for producers' finished goods
  B) bring buyers and sellers together
  C) possess title to the goods, store and sell to retailers
  D) buy in bulk, store and sell to retailers as desired
  Show Answer
  The correct answer is C .
• Question 2034: The making of doors from timber planks is a type of? Options:
  A) manufacturing
  B) tertiary production
  C) secondary produuction
  D) primary production
  Show Answer
  The correct answer is C .
• Question 2035: The line function in a typical manufacturing enterprise is normally performed by the Options:
  A) public relations department
  B) estate or properties department
  C) marketing department
  D) legal department
  Show Answer
  The correct answer is C .
• Question 2036: The main role of advertising is to Options:
  A) convince prospective buyers to buy
  B) show the actual shape, form and colour of the products
  C) inform people where to obtain goods and services
  D) captured the attention of people
  Show Answer
  The correct answer is A .
• Question 2037:

  Money is generally acceptable for transaction due to

  Options:
  A) The rule of the law
  B) Its acceptability in the global market
  C) The legal backing
  D) The central bank’s Governor’s signature
  Show Answer
  The correct answer is C .
• Question 2038: The major determinant of fire insurance premium is the Options:
  A) Owner of the property
  B) usefulness of the property to the owner
  C) Type and structure of the property to be insured
  D) extent of fire damaged anticipated.
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  The correct answer is C .
• Question 2039: The most suitable organizational structure for small or medium sized enterprises is Options:
  A) line structure
  B) staff structure
  C) committee structure
  D) functional structure
  Show Answer
  The correct answer is A .
• Question 2040: An agreement to sell is distinguishable from sale because in the former, the transfer of goods is Options:
  A) not anticipated
  B) not discussed
  C) deferred
  D) immediate
  Show Answer
  The correct answer is C .