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 2321: A major benefit a debtor can derive from using a credit facility is? Options:
  A) better service
  B) goodwill
  C) convenience
  D) control
  Show Answer
  The correct answer is C .
• Question 2322:

  Given:

  I. shoe maker
  II. policemen
  III. fishermen
  IV. Gardener
  V. Broker.

  The persons engaged in primary Occupation are

  Options:
  A) I, II and V
  B) I, III and IV
  C) III and V
  D) III and IV
  Show Answer
  The correct answer is D .
• Question 2323: Personal selling is used for the purpose of? Options:
  A) establishing the company
  B) providing information
  C) creating product awareness
  D) given financial assistance
  Show Answer
  The correct answer is C .
• Question 2324:

  Which of the following functions is not performed by warehousing?

  Options:
  A) Stabilization of price
  B) production ahead of demand
  C) creating scarcity of goods
  D) storage of goods
  Show Answer
  The correct answer is C .
• Question 2325: Profit that is expressed as a percentage of the cost of goods sold is referred to as Options:
  A) margin
  B) mark-up
  C) gain percent
  D) gross profit
  Show Answer
  The correct answer is B .
• Question 2326:

  The best mode of ensuring that items posted get to the named addresses is through

  Options:
  A) recorded delivery
  B) certificate of posting
  C) registered mail
  D) express mail
  Show Answer
  The correct answer is C .
• Question 2327:

  Use the conversion below to answer question 7 and 8

  MUSA: Taiwo why are you in business?

  TAIWO: To optimized profit, provide quality

  Product and discharge my social

  Responsibilities. What of you, Okon

  And Kalu

  OKON: I am in business to cater for the

  Need of the consumers at all costs.

  KALU: I am in business to make profit,

  Provided quality product

  At reasonable prices

  And establish a good

  Reputation for myself.

  Options:
  A) Musa
  B) Okon
  C) Taiwo
  D) Kalu
  Show Answer
  The correct answer is D .
• Question 2328:

  One of the functions of a retailer is the

  Options:
  A) breaking of bulk
  B) provision of credit facilities to relations
  C) provision of jobs for customers
  D) financing of production activities
  Show Answer
  The correct answer is A .
• Question 2329: Citizens are against privatization mainly because of? Options:
  A) the rationalization of organizations
  B) increased prices of goods and services
  C) the likelihood of monopoly
  D) ineffective management
  Show Answer
  The correct answer is B .
• Question 2330: A form of ownership which exploits the strength of one partner to remedy the weakness of the other is a? Options:
  A) joint partnership
  B) cooperative
  C) corperation
  D) joint venture
  Show Answer
  The correct answer is A .