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 2721: The production process that combines two or more raw materials into one end product is Options:
  A) conditioning
  B) blending
  C) merging
  D) synthesis
  Show Answer
  The correct answer is B .
• Question 2722: The conversion of raw materials into finished products creates? Options:
  A) form utility
  B) marginal utility
  C) place utility
  D) time utility
  Show Answer
  The correct answer is A .
• Question 2723:

  Which of the following activities is not an example of the extractive industry?

  Options:
  A) weaving
  B) quarrying
  C) hunting
  D) fishing
  Show Answer
  The correct answer is A .
• Question 2724:

  Given: i. Retail ii. Export iii Transport iv. Import V. Insurance Vi. Banking and finance Vii. Wholesale Viii Communication.

  Which of the above is aid to trade?

  Options:
  A) i, ii, iii and Viii
  B) iii, V, Vi and Viii
  C) i, ii, iii and Vi
  D) ii, V,Vi, and Vii
  Show Answer
  The correct answer is B .
• Question 2725: A company has an authorized capital of 40 million shares at N1 each, out f which 32 million are issued and fully paid-up. What happens to the remaining 8 million shares? Options:
  A) it has been issued but not paid-up
  B) it has been applied for but not issued
  C) it is not paid-up
  D) it has not yet been issued
  Show Answer
  The correct answer is D .
• Question 2726: Commerce includes all the occupations concerned with? Options:
  A) sales
  B) production
  C) marketing
  D) distribution
  Show Answer
  The correct answer is D .
• Question 2727: The assembling of products into usable forms is known as? Options:
  A) construction
  B) manufacturing
  C) formation
  D) creation
  Show Answer
  The correct answer is A .
• Question 2728:

  Which of the following is not a function of a consumer association?

  Options:
  A) Ensuring that consumers buy quality goods
  B) Educating consumers on their rights
  C) Penalizing importers of fake goods
  D) Ensuring that fair prices are charged
  Show Answer
  The correct answer is B .
• Question 2729: In foreign trade, document of title is known as Options:
  A) bill of lading
  B) bill at sight
  C) certifiate of origin
  D) declaration form
  Show Answer
  The correct answer is A .
• Question 2730: A contract which is devoid of legal effect is Options:
  A) void contract
  B) unenforceable contract
  C) voidable contract
  D) valid contract
  Show Answer
  The correct answer is C .