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 431:

  The process of dividing tasks into jobs and departments and delegating authority is known as

  Options:
  A) directing
  B) leading
  C) organizing
  D) staffing
  Show Answer
  The correct answer is C .
• Question 432: In international trade, exchanging goods for other goods and services purchased instead of paying in foreign currency is known as? Options:
  A) counter trade
  B) balance of trade
  C) balance of payments
  D) terms of trade
  Show Answer
  The correct answer is A .
• Question 433: Which of the following is used as a pricing policy? Options:
  A) Packaging
  B) Market selection
  C) Labelling
  D) Market skimming
  Show Answer
  The correct answer is D .
• Question 434: The media media used for inter-departmental communication include? Options:
  A) circulars, advertisement and notice boards
  B) memoranda, circulars and the telephone
  C) memoranda, advertising and face-to-face
  D) momoranda, advertising and the grapevine
  Show Answer
  The correct answer is B .
• Question 435:

  A paid presentation about a product with a view to encouraging purchases by an identifiable sponsor is

  Options:
  A) publicity
  B) personal selling
  C) sales promotion
  D) advertisement
  Show Answer
  The correct answer is D .
• Question 436: In an organization, civic consideration arises from? Options:
  A) the profit derived from the enviroment
  B) its operations witthin the environment
  C) irs social negative impacts on the community
  D) the fact that it is registered in that locality
  Show Answer
  The correct answer is B .
• Question 437: Musa obtains wool from his sheep, spins and transforms it into cloth which he sells to consumers. This is a form of Options:
  A) vertical integration
  B) horizontal integration
  C) forward intergration
  D) backward integration
  Show Answer
  The correct answer is A .
• Question 438:

  What is a quota?

  Options:
  A) ban on all imported goods
  B) a physical restriction placed on quantity of goods that can be imported
  C) tax paid on goods produced within a country
  D) tax paid on goods produced outside a country
  Show Answer
  The correct answer is B .
• Question 439: One of the major determinants of the volume of production is Options:
  A) the market size
  B) the availability of banks
  C) sex distribution
  D) government policy
  Show Answer
  The correct answer is A .
• Question 440: Entrepreneurship mainly involves? Options:
  A) risk-taking
  B) initiating
  C) skilled manpower
  D) knowledge
  Show Answer
  The correct answer is A .