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 271: The creation of utilities is to satisfy human wants is referred to as? Options:
  A) production
  B) consumption
  C) industrialization
  D) occupation
  Show Answer
  The correct answer is A .
• Question 272: Which of the following is a disadvantage of nationalization Options:
  A) It promotes poor economic planning
  B) The cost of services is not determined by by market forces
  C) It may lead to rationalization of resources
  D) The development of local skills and technologyis retarded
  Show Answer
  The correct answer is D .
• Question 273:

  

  What is Ojo's working capital?

  Options:
  A) N 2150
  B) N 1950
  C) N1800
  D) N 1150
  Show Answer
  The correct answer is D .
• Question 274:

  One of these is not part of small-scale retailers

  Options:
  A) Urban stores
  B) Roadside traders
  C) Supermarkets
  D) Itinerant traders
  Show Answer
  The correct answer is C .
• Question 275: Inbound tourism occurs when Options:
  A) non-resident s of a country travel within it.
  B) non- resident of a country travel to other countries
  C) resident of a country travel within it
  D) Residents of a country travel to other countries.
  Show Answer
  The correct answer is C .
• Question 276:

  The provision of services is classified under

  Options:
  A) batch production
  B) flow production
  C) secondary production
  D) tertiary production
  Show Answer
  The correct answer is D .
• Question 277: When a vendor supplies newspapers from house to house and across the streets, the element of marketing mix involved is Options:
  A) product
  B) price
  C) promotion
  D) place
  Show Answer
  The correct answer is D .
• Question 278: Ships that sail across the ocean and operate on scheduled time tables are? Options:
  A) ferries
  B) ocean liners
  C) tramp steamers
  D) coastal liners
  Show Answer
  The correct answer is B .
• Question 279:

  One of the products of the construction industry is a

  Options:
  A) piece of cloth
  B) bag of cement
  C) television
  D) chair
  Show Answer
  The correct answer is B .
• Question 280: Commercial banks are referred to as departmental stores of banking because they Options:
  A) have many branches
  B) have many customers
  C) are found in the cities
  D) offer many types of services
  Show Answer
  The correct answer is D .