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: An association that acts as a watchdog between enterpreneurs and government to protect trade from any unfavourable laws is said to be a Options:
  A) cartel
  B) syndicate
  C) Chamber of Commerce
  D) Nigeria Bar Association
  Show Answer
  The correct answer is C .
• Question 232: 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 233:

  

  What is the capital employed?

  Options:
  A) N 200 000
  B) N 340 000
  C) N 170 000
  D) N 300 000
  Show Answer
  The correct answer is D .
• Question 234: The concept of limiting types, sizes and other characteristics of a product line without sacrificing utility or durability is called Options:
  A) simplification
  B) standardization
  C) specialization
  D) satisficing
  Show Answer
  The correct answer is B .
• Question 235: The market where only indigenous firms are considered is the? Options:
  A) money market
  B) second-tier securities market
  C) local market
  D) stock exchange
  Show Answer
  The correct answer is B .
• Question 236:

  NACCIMA stands for

  Options:
  A) Nigerian American Centre for Culture, Industries, Mines and Arts
  B) Nigerian Association for Culture, Civics, Industries, Minerals and arts Arts
  C) National Agency for Culture, Civilization, Investment, Manufacturing and Agriculture
  D) Nigeria Association of Chambers of Commerce, Industries, Mines and Agriculture
  Show Answer
  The correct answer is D .
• Question 237:

  An arrangement by independent firms to share the market of their products on quota basics Is referred to as

  Options:
  A) Cartel
  B) Syndicate
  C) Trust
  D) Integration
  Show Answer
  The correct answer is A .
• Question 238: The initial function of a manager is Options:
  A) setting up an organisation
  B) coordinating
  C) planning
  D) provision of welfare package
  Show Answer
  The correct answer is B .
• Question 239: A proposed company may not be registered if? Options:
  A) the name conficits with that of another
  B) it does not put 'limited' after its proposed name
  C) it has no paid-up capital
  D) it has no asset of its own
  Show Answer
  The correct answer is A .
• Question 240: A group of specialized functions of marketing is Options:
  A) buying, selling, storing and information
  B) buyimg, selling, advertising and packaging
  C) buying, selling, labelling and promotion
  D) buying , selling, skimmimg and pricing
  Show Answer
  The correct answer is C .