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 221: A form of money that has gone out of use is? Options:
  A) paper money
  B) bank money
  C) commodity money
  D) foreign money
  Show Answer
  The correct answer is C .
• Question 222: Partnership are most suitable where Options:
  A) the partners are family friends
  B) professionals are involved
  C) members can easily rasie enough capital
  D) government regulations are favourable
  Show Answer
  The correct answer is B .
• Question 223: The price quoted which includes the cost of insurance, freight and all delivery charges to the importer's warehouse is? Options:
  A) Free Alongside Ship
  B) Franco
  C) Free On Board
  D) Free On Rail
  Show Answer
  The correct answer is C .
• Question 224:

  One of the objectives of the Niger Basin Commission is to

  Options:
  A) regulate the movement of citizens across borders
  B) improve tariff and quota on non-members
  C) regulate the movement of cargo along the river
  D) streaming the construction of dams on the river
  Show Answer
  The correct answer is D .
• Question 225: Recognized members of the Stock Exchange who buy and sell securities on their own behalf are known as ? Options:
  A) bulls
  B) jobbers
  C) brokers
  D) stags
  Show Answer
  The correct answer is B .
• Question 226: Resources harnessed in certain proportion to create goods and services are? Options:
  A) factors of production
  B) technology and labour
  C) land and entrepreneur
  D) raw materials
  Show Answer
  The correct answer is A .
• Question 227: The compensation the insured gets depends heavily on the? Options:
  A) economic situation
  B) premium paid
  C) risk suffered
  D) insurer's bouyancy
  Show Answer
  The correct answer is B .
• Question 228: Which of the following is an determines the quality of goods and that a retailer sells? Options:
  A) the mode of contract of sales
  B) the type of manufacturer
  C) the regulations regarding sales in the area
  D) the location of his shop
  Show Answer
  The correct answer is B .
• Question 229: An aspect of commerce that facilitates the distribution of products is? Options:
  A) transportation
  B) advertising
  C) branding
  D) trading
  Show Answer
  The correct answer is A .
• Question 230:

  An agreement that is enforceable in law is

  Options:
  A) an offer
  B) a consideration
  C) a contract
  D) an acceptance
  Show Answer
  The correct answer is C .