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 31: The marketing approach by which a firm carries out detailed analysis of itself, the consumers and its competitors is known as? Options:
  A) market analysis
  B) marketing mix analysis
  C) marketing opportunities analysis
  D) market survey
  Show Answer
  The correct answer is D .
• Question 32: The rewards of rents, wages, interests and profits accrue from? Options:
  A) capital, labour, land and enterpreneur respectively
  B) land, enterpreneur,labour and capital respectively
  C) land, lbour, capital and enterpreneur respectively
  D) labour, enterpreneur, land and capital respectively
  Show Answer
  The correct answer is C .
• Question 33:

  An advantage of rail transport is that it

  Options:
  A) is less expensive to maintain
  B) is not prone to delays
  C) carries bulky and heavy goods
  D) enhances door-to-door delivery
  Show Answer
  The correct answer is C .
• Question 34: A bond which attracts only interest but leaves the capital unpaid is referred to as? Options:
  A) a long-term loan
  B) a develoment bond
  C) a redeemable bond
  D) an irredeemable bond
  Show Answer
  The correct answer is A .
• Question 35:

  The Sole aim of government owned business is to

  Options:
  A) make profit
  B) provide services to the public
  C) spread environmental pollution
  D) manage action
  Show Answer
  The correct answer is B .
• Question 36:

  The activity which improves the appearance of a product and also aimed at protecting it is

  Options:
  A) advertising
  B) grading
  C) labelling
  D) packaging
  Show Answer
  The correct answer is C .
• Question 37: Which of the following is a characteristic of a bearer cheque Options:
  A) it is made with transverse lines
  B) it is made payable to whoever presents it
  C) it is made without transverse lines
  D) it is only payable into the payees account
  Show Answer
  The correct answer is B .
• Question 38:

  Given:
  Opening stock: ₦40 000
  Purchases: ₦115 000
  Closing stock: ₦60 000
  Sales: ₦250 000

  What is the cost of goods sold?

  Options:
  A) ₦155 000
  B) ₦95 000
  C) ₦50 000
  D) ₦30 000
  Show Answer
  The correct answer is B .
• Question 39: 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 .
• Question 40: From which of the following sources can partnerships increase their capital? Options:
  A) Admission of a new partner
  B) Sale of shares
  C) Discharge of a mortage
  D) initial capital
  Show Answer
  The correct answer is A .