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 541: The business unit that applies the principle of one man, one vote is ______ Options:
  A) sole proprietorship
  B) partnership
  C) public company
  D) co-operative society
  Show Answer
  The correct answer is D .
• Question 542: The activity which entails buying of goods in bulk and selling in small quantities to retailers is? Options:
  A) assembling
  B) wholesaling
  C) retailing
  D) merchandising
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  The correct answer is B .
• Question 543:

  

  The chart above represent the?

  Options:
  A) product mix relationship
  B) marketing mix relationship
  C) promotion mix elationship
  D) advertising mix relationship
  Show Answer
  The correct answer is B .
• Question 544: The major function of a trade association is that it? Options:
  A) liases with foreign trade associations
  B) helps to promotes foreign trade
  C) facilitates members' access to credit facilities
  D) helps to promote resarch on behalf of members
  Show Answer
  The correct answer is D .
• Question 545:

  A merchant wholesaler is referred to as?

  Options:
  A) del-credere agent
  B) a broker
  C) rack jobber
  D) a factor
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  The correct answer is D .
• Question 546: The primary objective of a business organization is to Options:
  A) cater for the neds of its owners
  B) work towards making returns
  C) assist the government to serve the citizens
  D) improve the standard of living of its proprietors
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  The correct answer is B .
• Question 547:

  The creation of goods and services to satisfy human wants is referred to as

  Options:
  A) manufacturing
  B) commercialization
  C) production
  D) entrepreneurship
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  The correct answer is C .
• Question 548: An essential factor for evaluating the different sources of funds for a business is the? Options:
  A) decree establishing the business
  B) ownership structure of the business concern
  C) size and the type of the business
  D) burden of cost and repayment
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  The correct answer is B .
• Question 549:

  A company which another company is a member and control the board of directors or hold more than half of its equity is termed_______

  Options:
  A) Subsidiary
  B) Syndicate
  C) Holding Company
  D) Parent company
  Show Answer
  The correct answer is A .
• Question 550: Citizens are against privatization mainly because of Options:
  A) Ineffective Management
  B) The likely hood of monopoly
  C) Increased price of good and services
  D) The ration dilation of organizations.
  Show Answer
  The correct answer is C .