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 21:

  Dealers in stock exchange such as bulls, bears and stags are categorized as

  Options:
  A) actuaries
  B) promoters
  C) speculators
  D) underwriter
  Show Answer
  The correct answer is C .
• Question 22:

  Which of these is not a merit of division of labour

  Options:
  A) results in specialization
  B) brings about an element of automation
  C) Training in new jobs is facilitated
  D) Creates monotony in the work force
  Show Answer
  The correct answer is D .
• Question 23: One of the reasons why wholesaling must continue is that? Options:
  A) the tax paid by wholesalers on their profit enhances national revenue
  B) by creating artificial scarcity, the wholesaler is enhencing competition
  C) the wholesaler provides technical advice to the retailer
  D) the gap between manufacturers and retailers is reduce byn wholesalers
  Show Answer
  The correct answer is D .
• Question 24:

  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 25: The pricing policy that seeks to set prices relatively high in order to attract the wealthy segment of the market is Options:
  A) target return pricing
  B) market skimming
  C) variable pricing
  D) market penetration
  Show Answer
  The correct answer is B .
• Question 26: The use of vending machines in retailing is hindered in a developing economy owing to? Options:
  A) poor distribution network
  B) low level of education
  C) inffective communication system
  D) lack os steady power supply
  Show Answer
  The correct answer is D .
• Question 27: Ships used for international transport are? Options:
  A) trawelers
  B) yachets
  C) ocean liners
  D) launchers
  Show Answer
  The correct answer is C .
• Question 28: A worker who process rice is engaged in? Options:
  A) constructive activity
  B) comercial activity
  C) extractive activity
  D) manufactural activity
  Show Answer
  The correct answer is D .
• Question 29: The production process that combines two or more raw materials into end product is Options:
  A) conditioning
  B) blending
  C) merging
  D) synthesis
  Show Answer
  The correct answer is B .
• Question 30: Resources harnessed in certain proportion to create goods and services are? Options:
  A) factors of production
  B) technology and labour
  C) land and entrepreneur
  D) raw materials
  Show Answer
  The correct answer is A .