Commerce Past Questions
Commerce is an organized system for the exchange of goods between buyers and sellers. Commerce students study of the process and activity of buying and selling goods and services, especially on a large scale.
Study the following Commerce past questions and answers for JAMB, WAEC, NECO and Post UTME. Prepare yourself with official past questions and answers for your upcoming examinations.
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Question 1
An unconditional order by a creditor to a debtor requiring payment on a specified date is called
Options
A) promissory note
B) letter of credit
C) money order
D) bill of exchange
Exam Body: National Examinations Council (NECO)
Question 2
The effective dissemination of information about products is a social responsibility of a company to its
Options
A) shareholders
B) management
C) consumers
D) employees
Exam Body: National Examinations Council (NECO)
Question 3
The trade that takes place when imported goods are re-exported is known as
Options
A) entrepot trade
B) import trade
C) export trade
D) visible trade
Exam Body: National Examinations Council (NECO)
Question 4
Commerce aids the development of any economy as it
Options
A) provides for proper accountability
B) improves the living standard
C) enhances the even distribution of wealth
D) encourages the reduction of inflation
Exam Body: National Examinations Council (NECO)
Question 5
From the diagram above, what does I stand for?
Options
A) Aids to trade
B) Publicity
C) Home trade
D) Advertising
Exam Body: Joint Admissions and Matriculation Board (JAMB)
Explanation:
The divisions of commerce are Trade and Aids to trade or ancillaries to trade. Aids to trade are the commercial activities which facilitate trade (buying and selling) i.e. they make trade possible. Aids to trade are banking, insurance, transport, advertising, warehousing, communication and tourism.
Question 6
A core investor in the current phase of privatization in Nigeria is one who?
Options
A) can afford to buy most of the shares of the enterprises
B) will be at the core of the enterprises
C) can mobilize foreign currency equivalent to the value of the enterprises
D) has the technical know-how of the enterprises
Exam Body: Joint Admissions and Matriculation Board (JAMB)
Question 7
The agency in Nigeria which ensures that products conform to government quality specifications is the?
Options
A) Standards Organization of Nigeria
B) Nigerian Consumers’ Association
C) Manufacturers’ Association of Nigeria
D) Nigerian Chamber of commerce
Exam Body: Joint Admissions and Matriculation Board (JAMB)
Question 8
Awarding scholarships and sponsoring sports by a business organization are example of?
Options
A) advertising strategy
B) economic responsibility
C) marketing strategy
D) social responsibility
Exam Body: Joint Admissions and Matriculation Board (JAMB)
Question 9
The commercialization of public enterprises is aimed at
Options
A) increasing efficiency and making the enterprises self-sufficient
B) advertising and promoting the goods and services of the enterprises
C) increased assistance and patronage of the enterprises by the public
D) selling the goods and services of the enterprises
Exam Body: Joint Admissions and Matriculation Board (JAMB)
Question 10
An author’s exclusive righto his published and unpublished works is known as?
Options
A) authors right
B) constitution right
C) patent right
D) copyright
Exam Body: Joint Admissions and Matriculation Board (JAMB)
Free CBT Practice
- Joint Admissions and Matriculation Board (JAMB)
- West African Examinations Council (WAEC)
- National Examinations Council (NECO)
- Obafemi Awolowo University (OAU)
- University of Lagos (UNILAG)
- Olabisi Onabanjo University (OOU)
- University of Benin (UNIBEN) – Social and Management Sciences
- University of Calabar (UNICAL) - Science, Medicine and Agriculture
- University of Calabar (UNICAL) - Arts and Law
- University of Calabar (UNICAL) - Social and Management Sciences
- University of Benin (UNIBEN) – Engineering and Physical Sciences