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 41:

  Which of the following countries are members of the Lake Chad Basin Commission?

  Options:
  A) Niger and Cameroon
  B) Benin and Nigeria
  C) Nigeria and Mali
  D) Chad and Benin
  Show Answer
  The correct answer is A .
• Question 42: The payment made by a speculator to the buyer when he is unable to deliver stocks on the agreed date is Options:
  A) arbitage
  B) franco
  C) contango
  D) backwardation
  Show Answer
  The correct answer is D .
• Question 43: Balance of payment problems arise if a country's? Options:
  A) exports is more than imports
  B) imports is more than exports
  C) currency devaluation
  D) invisible exports is more than visible exports
  Show Answer
  The correct answer is B .
• Question 44: The process of buying and selling and distribution of goods and services is ______ Options:
  A) retail trade
  B) commerce
  C) marketing concept
  D) marketing
  Show Answer
  The correct answer is B .
• Question 45: A written agreement for hiring a ship for transporting goods is a? Options:
  A) consular invoice
  B) bill of lading
  C) charter party
  D) certificate of origin
  Show Answer
  The correct answer is C .
• Question 46: The bulls and bears in the Stock Exchange market help to minimize Options:
  A) the number of shares and bonds sold
  B) price increases of securities
  C) fluctuations in the prices os securities
  D) the elasticity of the prices of securities
  Show Answer
  The correct answer is C .
• Question 47:
  

  Use the information above to answer the question below.

  Find the current ratio.

  Options:
  A) 1.53:1
  B) 1, 85:1
  C) 0. 87: 1
  D) 0, 50:1
  Show Answer
  The correct answer is B .
• Question 48:

  (i)Money and machines (ii) Materials and Money (iii)Market and Man.

  Which combination of the above are basic requirement as business resource?

  Options:
  A) i and ii
  B) ii and iii
  C) i and iv
  D) ii and iv
  Show Answer
  The correct answer is B .
• Question 49:

  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 50: 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 .