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:

  A demonstration of social responsibility by a business is the payment of

  Options:
  A) interests on loans
  B) taxes to government
  C) dividends to shareholders
  D) premium on insurance
  Show Answer
  The correct answer is B .
• Question 212:

  The creation of goods and services to satisfy human wants is referred to as

  Options:
  A) manufacturing
  B) commercialization
  C) production
  D) entrepreneurship
  Show Answer
  The correct answer is C .
• Question 213: The agency in Nigeria which ensures that products conform to government quality specifications is the? Options:
  A) Standards Organization of Nigeria
  B) Nigerian Consumers’ Association
  C) Manufacturers’ Association of Nigeria
  D) Nigerian Chamber of commerce
  Show Answer
  The correct answer is A .
• Question 214: The main objective of a trade association can best be described as promoting and protecting Options:
  A) the products
  B) common interest
  C) the market
  D) customer's interest
  Show Answer
  The correct answer is D .
• Question 215: The most dangerous pollution is? Options:
  A) water
  B) noise pollution
  C) soil pollution
  D) air pollution
  Show Answer
  The correct answer is D .
• Question 216: The process of eliminating a virus from a computer program is? Options:
  A) programming
  B) debugging
  C) formating
  D) looping
  Show Answer
  The correct answer is C .
• Question 217:

  The stock exchange is a market where

  Options:
  A) short-term securities are sold
  B) medium term securities are sold
  C) all types of securities are sold
  D) long term securities are sold
  Show Answer
  The correct answer is C .
• Question 218:

  The instruments of credit include

  Options:
  A) billboards and postal stamps
  B) payment vouchers and statement of account
  C) bills of exchange and salary voucher
  D) bills of exchange and promissory notes
  Show Answer
  The correct answer is D .
• Question 219:

  An individual that links the producer with the retailer is

  Options:
  A) an agent
  B) a wholesaler
  C) a principal
  D) an entreprenuer
  Show Answer
  The correct answer is B .
• Question 220: The current highest decision-making body on privatization and commercialization of public enterprises in Nigeria is the? Options:
  A) National Council on Privatization
  B) Securities and Exchange Commission
  C) Nigeria Investment Promotion Commission
  D) Bureau of Public ENterprises
  Show Answer
  The correct answer is D .