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 291: The government policy thrust on the business environment is to? Options:
  A) promote experts
  B) attract investors
  C) be self-sufficient
  D) increase production
  Show Answer
  The correct answer is B .
• Question 292: The most suitable organizational structure for small or medium sized enterprises is Options:
  A) line structure
  B) staff structure
  C) committee structure
  D) functional structure
  Show Answer
  The correct answer is A .
• Question 293: Modern means of payment is greatly facilitated by Options:
  A) e-commerce
  B) paper money
  C) e-banking
  D) credit transfer
  Show Answer
  The correct answer is C .
• Question 294: An economic activity which deals with natural resources is a form of? Options:
  A) extraction
  B) refining
  C) construction
  D) manufacturing
  Show Answer
  The correct answer is A .
• Question 295: The act of a person employing another to enter into a contract on his behalf is known as? Options:
  A) business
  B) sale of goods
  C) bilateral agreement
  D) agency
  Show Answer
  The correct answer is D .
• Question 296: The scope of economic activities can be enlarged by Options:
  A) transportation and trading
  B) business and its promotion
  C) trading and aids to trade
  D) insurance and banking
  Show Answer
  The correct answer is C .
• Question 297: The most important concept on production is? Options:
  A) utility
  B) wealth creation
  C) transformation
  D) distribution
  Show Answer
  The correct answer is A .
• Question 298: The breaking down of a market into separate and identifiable elements is known as Options:
  A) differentiation
  B) segmentation
  C) skimming
  D) penetration
  Show Answer
  The correct answer is B .
• Question 299:

  An association formed by computer distributors to safeguard and promote their interest is a

  Options:
  A) chamber of commerce
  B) cooperative society
  C) trade association
  D) trade union
  Show Answer
  The correct answer is C .
• Question 300: One of the major problems of a sole proprietor is sourcing for? Options:
  A) raw materials
  B) labour
  C) machineries
  D) funds
  Show Answer
  The correct answer is D .