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 2141: The principle of insurance which entitles an insurance company to take any advantage due to the insured after full indemnity is? Options:
  A) contribution
  B) subrogation
  C) promiate cause
  D) utmost good faith
  Show Answer
  The correct answer is B .
• Question 2142:

  The assembling of Manufactured products into forms usable by humans is classified as

  Options:
  A) Extraction occupation
  B) Construction occupation
  C) Manufacturing occupation
  D) Industrial occupation
  Show Answer
  The correct answer is B .
• Question 2143: The world tourism organization has it headquarters in Options:
  A) New York
  B) Madrid
  C) Paris
  D) London
  Show Answer
  The correct answer is B .
• Question 2144: The main thrust of government policy of evolving good business environment in Nigeria is the need Options:
  A) to attract local and foreign investors
  B) for more export commodities
  C) for consumer oriented products
  D) to have viable local markets
  Show Answer
  The correct answer is A .
• Question 2145: The market structure, business conditions and financial system in Nigeria constitute the? Options:
  A) economic enironment
  B) political environment
  C) cultural environment
  D) technological environment
  Show Answer
  The correct answer is A .
• Question 2146:

  (i)Money and machines (ii) Materials and Money (iii)Market and Man.

  Which combination of the above are basic requirement as business resource?

  Options:
  A) i and ii
  B) ii and iii
  C) i and iv
  D) ii and iv
  Show Answer
  The correct answer is B .
• Question 2147: A business organization that exploits the capabilities of a member to remedy the weaknesses of another is Options:
  A) joint venture
  B) partnership
  C) nominal partnership
  D) cooperative
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  The correct answer is D .
• Question 2148: Insurance against burglary is an example of Options:
  A) indemnity insurance
  B) fidelity guarantee insurance
  C) non-insurable risk
  D) non-indemnity insurance
  Show Answer
  The correct answer is A .
• Question 2149:

  The principle of span of control stipulates that?

  Options:
  A) The number of employees reporting to one superior should be kept to a workable maximum
  B) An employee should report to only one superior
  C) Managers must demand accountability from their subordinates
  D) Resources have to be economized within the various divisions
  Show Answer
  The correct answer is A .
• Question 2150: A major disadvantage of the privatization policy is that? Options:
  A) the economy would be private-sector-led
  B) citizens would benefit less from government
  C) more money would be bought into circulation
  D) government would loss control of the economy
  Show Answer
  The correct answer is D .