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 231: Which of the following best describes the classification of computer? Options:
  A) Mini-computer, speed and size
  B) Micro-computer, cost and abilities
  C) Mini-computer, Micro-computer and work station
  D) Mini-computer , hybrid and digital
  Show Answer
  The correct answer is C .
• Question 232: 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 233: Proper disposal of waste by business firms is one way of discharging their? Options:
  A) responsibility to government
  B) environmental responsibility
  C) community responsibility
  D) responsibility to customers
  Show Answer
  The correct answer is B .
• Question 234: Who is the offeree in this contract ? Options:
  A) Musa
  B) Audu
  C) Adamu
  D) Jacob
  Show Answer
  The correct answer is C .
• Question 235:

  An example of a cartel is

  Options:
  A) ECOWAS
  B) AU
  C) OPEC
  D) EU
  Show Answer
  The correct answer is C .
• Question 236: A computer component that decodes and interprets instructions and also directs program implementation is? Options:
  A) memory unit
  B) central processing unit
  C) control unit
  D) system unit
  Show Answer
  The correct answer is B .
• Question 237:

  What do we call agreement between two people enforced by law?

  Options:
  A) Consideration
  B) offer
  C) contract
  D) agreement
  Show Answer
  The correct answer is C .
• Question 238: To eliminate middlemen, there should be a retail outlet such as Options:
  A) producer co-operative
  B) consumer co-operative
  C) multiple shop
  D) departmental store
  Show Answer
  The correct answer is C .
• Question 239: When expenses on trading are deducted, the result is the Options:
  A) rate of turn over
  B) net profit
  C) gross profit
  D) cost of goods sold
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  The correct answer is B .
• Question 240: The best pricing strategy for a company that produces warm clothing is? Options:
  A) target return pricing
  B) bid pricing
  C) variable pricing
  D) product line pricing
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  The correct answer is D .