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 211:

  Tourism involving residents of the given country travelling only within this country is called__________

  Options:
  A) Domestic Tourism
  B) Inbound Tourism
  C) Outbound Tourism
  D) Traveller's Tourism
  Show Answer
  The correct answer is A .
• Question 212:

  In Nigeria, the ministry in charge of registering trade association is that of

  Options:
  A) Culture and tourism
  B) Finance
  C) Industries
  D) Commerce
  Show Answer
  The correct answer is D .
• Question 213:

  The provision of services is classified under

  Options:
  A) batch production
  B) flow production
  C) secondary production
  D) tertiary production
  Show Answer
  The correct answer is D .
• Question 214:

  Which of the following are the components ofcommerce?

  I. trading and advertising
  II. warehousing and transportation
  III. packing and branding
  IV. Insurance and banking

  Options:
  A) I and II
  B) I,II and IV
  C) II, III and IV
  D) I and III
  Show Answer
  The correct answer is B .
• Question 215:

  Given:
  I. Retail
  II. Export
  III. Transport
  IV. Import
  V. Insurance
  VI. Banking and finance
  VII. Wholesale
  VIII. Communication.

  Which of the above are aids to trade?

  Options:
  A) III, V, VI and VIII
  B) I, II, III and VI
  C) I, III, V, and VI
  D) II, V, VI and VII
  Show Answer
  The correct answer is A .
• Question 216: Entrepreneurship mainly involves? Options:
  A) risk-taking
  B) initiating
  C) skilled manpower
  D) knowledge
  Show Answer
  The correct answer is A .
• Question 217: One major disadvantage of a cartel is that it Options:
  A) maximizes productive efficiency
  B) brings the merging firms under control
  C) maximizes profit from operation
  D) eliminate competitions and waste
  Show Answer
  The correct answer is D .
• Question 218:

  An International organisation that influence and fix the price of oil in the International markets is

  Options:
  A) IMF
  B) ECOWAS
  C) OPEC
  D) OAU
  Show Answer
  The correct answer is C .
• Question 219:

  The function of commerce in relation to production is

  Options:
  A) helping in the extraction of raw materials from nature
  B) yielding result
  C) providing a link between the different stage of conversion of good
  D) satisfying
  Show Answer
  The correct answer is D .
• Question 220: Money can simply be referred to as a? Options:
  A) medium of exchange
  B) means for the settlement of debts
  C) durable assets for doing business
  D) standard of value
  Show Answer
  The correct answer is A .