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 2191:

  Good and services transferred from seller to buyer without immediate payment is referred to as

  Options:
  A) leasing
  B) hire purchase
  C) credit sale
  D) mutual understanding
  Show Answer
  The correct answer is C .
• Question 2192: The legal aspect of business is designed to Options:
  A) protect business organization and consumers
  B) safeguard consumers from undue business practices
  C) protect infant industries from collapse
  D) encourage free exchanges among businesses
  Show Answer
  The correct answer is A .
• Question 2193:

  All but one is not a barriers to foreign trade

  Options:
  A) Natural Barriers
  B) Economic Barriers
  C) Social and Language Barriers
  D) Trade Fair
  Show Answer
  The correct answer is D .
• Question 2194: Which of the following is a type of system software Options:
  A) utility programmes
  B) registers
  C) hard drives
  D) packages
  Show Answer
  The correct answer is A .
• Question 2195:

  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 2196: The development of commercial activities in Nigeria was facilitated largely by Options:
  A) a good transport system
  B) the indigenization decree
  C) a convenient medium of exchange
  D) a high level of production
  Show Answer
  The correct answer is C .
• Question 2197: Tourists with no fixed address in a town may receive their letters from post office through a Options:
  A) poste restante
  B) parcel post
  C) private mail bag
  D) recorded delivery
  Show Answer
  The correct answer is A .
• Question 2198: One advantage the co-operative society has over the company is that the Options:
  A) the latter pays tax while the former does not
  B) former attract more capitals than the later
  C) members of the former is usually morethan the latter
  D) former, unlike the latter, has limited liabities
  Show Answer
  The correct answer is A .
• Question 2199: In Nigeria, the ministry in charge of registering trade associations is that of? Options:
  A) industries
  B) commerce
  C) culture and tourism
  D) finance
  Show Answer
  The correct answer is B .
• Question 2200: The process of buying and selling and distribution of goods and services is ______ Options:
  A) retail trade
  B) commerce
  C) marketing concept
  D) marketing
  Show Answer
  The correct answer is B .