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 241: An objective of the farmers' association is to? Options:
  A) ensure that the prices of goods are fair and reasonable
  B) correct the imbalance between consumers and producers
  C) improve the methods of selling and advertising
  D) provide a stable market outlet for farm inputs
  Show Answer
  The correct answer is A .
• Question 242: An important issue for consideration in the product element of the marketing mix is the? Options:
  A) adequate of the peroduct
  B) channel of diistribution of the product
  C) price of the product
  D) planing and development of the product
  Show Answer
  The correct answer is D .
• Question 243: Which of the following maxims negate the principle of collective bargaining? Options:
  A) individual employees have weak bargaining base
  B) individual employees attain strength when they come together in union
  C) only members of the union can benefit from agreements negotiated by the union
  D) collective bargainig covers the vast majority of employees, whether union members or not
  Show Answer
  The correct answer is C .
• Question 244: The practice by which an insurance company accepts a very large risk and later shares it with other insurance companies is called Options:
  A) subrogation
  B) contribution
  C) re-insurance
  D) indemnity
  Show Answer
  The correct answer is C .
• Question 245: The basic function of the Nigeria Ports Authority is to? Options:
  A) ensure that the right calibre of personnel is employed at the ports
  B) coordinate and regulate the activities of shipping lines
  C) facilitate and control the movement of goods and services into and out of the country
  D) coordinate the activities of all the seaports in the country
  Show Answer
  The correct answer is D .
• Question 246: The portion of the authorized share capital given out to the public for subscription is Options:
  A) called-up capital
  B) issued capital
  C) paid-up capital
  D) reserved capital
  Show Answer
  The correct answer is B .
• Question 247: An employer insures against his employees' dishonesty by taking up? Options:
  A) fidelity guarantee insurance
  B) accident insurance
  C) group life assurance
  D) endowment policy
  Show Answer
  The correct answer is A .
• Question 248: The secretariat of the Niger Basin Commission is located at Options:
  A) Ouagadougou, Burkina Faso
  B) Abuja, Nigeria
  C) Niamey, Niger
  D) Bamako, Mali
  Show Answer
  The correct answer is C .
• Question 249:

  The duties paid on goods produced locally is

  Options:
  A) Ad-valorem duty
  B) excise duty
  C) export duty
  D) quota
  Show Answer
  The correct answer is B .
• Question 250:

  An organization which focuses on consumers satisfaction is practicing

  Options:
  A) Marketing concepts
  B) Selling concepts
  C) Consumerism
  D) Market segmentation
  Show Answer
  The correct answer is A .