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 691: A transporter who had to sell some perishable goods without the prior authority of the owner becomes an agent by? Options:
  A) conduct
  B) necessity
  C) ratification
  D) estoppel
  Show Answer
  The correct answer is B .
• Question 692: One of the functions of the Nigerian Ports Authority is that it Options:
  A) gives preferential treatment to Nigerian investors
  B) provides credit facilities to importers
  C) encourages the growth of infant industries
  D) provides warehosing facilities at the docks
  Show Answer
  The correct answer is D .
• Question 693: A person who buys new issues with a view of reselling at a higher price in the near future is referred to as a? Options:
  A) bull
  B) bear
  C) dealer
  D) stag
  Show Answer
  The correct answer is A .
• Question 694: Balance of payments is made up of? Options:
  A) visible and current items
  B) invisible and capital items
  C) current and capital items
  D) visible and invisible items
  Show Answer
  The correct answer is C .
• Question 695:

  A retail store that sells a single product from a particular manufacturer is a

  Options:
  A) tied shop
  B) shopping mail
  C) hypermarket
  D) chain store
  Show Answer
  The correct answer is D .
• Question 696: Most of the barriers to international trade have been eliminated through? Options:
  A) diversification
  B) globalization
  C) commercialization
  D) privatization
  Show Answer
  The correct answer is B .
• Question 697: The major factors that facilitate merchandising are Options:
  A) commuincation , advertising and banking
  B) trading, warehousing and production
  C) management, insurance, and advertising
  D) banking, insurance and transportation
  Show Answer
  The correct answer is D .
• Question 698: The federal Government made efforts at rendering public enterprises more efficient and profit-oriented through the process of Options:
  A) privatization
  B) commercialization
  C) indigenization
  D) nationalization
  Show Answer
  The correct answer is B .
• Question 699: The most important attributes in a sale of goods contract are? Options:
  A) offer and consideration
  B) price and goods
  C) offer and acceptance
  D) demand and supply
  Show Answer
  The correct answer is C .
• Question 700: The measure of independence available to the individual business units that come together is the main difference between Options:
  A) vertical and horizontal integration
  B) Mergers and Acquisition
  C) Consortium and imagination
  D) Trust and Cartel
  Show Answer
  The correct answer is B .