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 61: In the Nigerian GSM industry,a parliament is organized by the Nigerian Communications Commission in order to Options:
  A) increase profit of service providers
  B) protect the interest of government
  C) encourage more people into the business
  D) protect the interest of consumers
  Show Answer
  The correct answer is D .
• Question 62: Q,act as an agent of P, lawfully and reasonably incur the amount of N350 as expenses.If Q comes to P, for payment , this is an instance of P'S duty to Options:
  A) remunerate Q
  B) reply Q
  C) indemnify Q
  D) settle Q
  Show Answer
  The correct answer is C .
• Question 63: 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 .
• Question 64: The major components of modern retailing include? Options:
  A) branding, doorstep selling and customer stimulation
  B) branding, sales promotion and mail order
  C) chain store, customer stimulating and doorstep selling
  D) branding, supermarkets and after sales-service
  Show Answer
  The correct answer is D .
• Question 65: The most dangerous pollution is? Options:
  A) water
  B) noise pollution
  C) soil pollution
  D) air pollution
  Show Answer
  The correct answer is D .
• Question 66: Kamaldeen is a seller in a hire-purchase agreement with Emeka. By law, Kamaldeen cannot recover the hire purchased goods. This is an instance of a restriction on Options:
  A) Emeka's right to terminate the agreement
  B) Kamaldeen's right to re-hire the Goods
  C) Emeka's right to breach the agreement
  D) Kamaldeen's right to terminate the agreement
  Show Answer
  The correct answer is B .
• Question 67:

  Given $\frac{\text{index of export price}}{\text{index of import price}}$ X $\frac{100}{1}$

  The formula above can be used to determine the

  Options:
  A) terms of payment
  B) balance of payments
  C) tearms of trade
  D) import tariffs
  Show Answer
  The correct answer is C .
• Question 68:

  

  From the diagram above, what does I stand for?

  Options:
  A) aids to trade
  B) home trade
  C) publicity
  D) advertising
  Show Answer
  The correct answer is A .
• Question 69:

  The risks that can be forecast and measured is termed___________

  Options:
  A) Gambling
  B) Insurable risks
  C) Non-Insurable risks
  D) Indenmity Insurance
  Show Answer
  The correct answer is B .
• Question 70: An example of indirect service is rendered by Options:
  A) civil servants
  B) family doctors
  C) household servant
  D) entertainers
  Show Answer
  The correct answer is A .