Study and practice Commerce past questions with answers and detailed explanations. Then test your knowledge using our interactive CBT practice platform and prepare confidently for your upcoming examinations.
Nigerian Postal Services (NIPOST) facilitates commerce in all the following ways except through
Acash on delivery service
Brecorded delivery service
Cexpress service
Dfree on board service
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Question 2
jamb1998
Emeka ordered goods for his retail shop. The manufacturer sells the goods at retail price of N 500 but would give it to Emeka at N 400. What kind of discount did he get?
ACash discount
BTrade discount
CQuantity discount
DSeasonal discount.
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Question 3
jamb1998
In a common market, member countries agree basically to
Aplace bans on the other countries’ product
Bwage war against other countries’ product
Cestablish common barriers against countries outside the market
Dnegotiate with countries outside the market for favourable terms of trade .
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Question 4
jamb1998
The reduction of import duties among the members countries of ECOWAS is an example of
Apreference duties
Bpreferential treatment
Cpreferential tariff
Dpreferential excise
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Question 5
jamb1998
Inventory control is an aspect of a
Aoperations research
Bmaterials management
CC the organizing function
DD span of control
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Question 6
jamb1998
When a business enterprise provides free service to its environment, the service is said to be a
Acivic responsibility
Bphilanthropic consideration
Csocial responsibility
Dpolitical consideration
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Question 7
jamb1998
Which of the following sequences can best fit into the structure above?
APeople control ideals
BMaterial production ideas
CFinance marketing production
DMaterial production product
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Question 8
jamb1998
Under normal circumstances, a business enterprise can be ideally structured
Aby product, function or territories
Baround the personalities in the enterprise
Con the ruling of the management
Don the basis of an order from stockholders
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Question 9
jamb1998
Management is described as
Agetting things done through people
Bimplementing of business decision
Cthe numbers of levels in an organization
Dthe people in authority in an organization
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Question 10
jamb1998
The main function of thrift, credit and loans co-operative societies is to
Aeducate their members
Bcollect money from their members
Cdisburse money to their members
Draise investment finance among thir members
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Question 11
jamb1998
The Continental West African Conference is a
Agroup of all West African countries trading in the same products
Bconference to foster unity among the West African countries
Cgorups of shipping lines operating on the same West African route
Dtrust with shareholders fromall West African countries
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Question 12
jamb1998
The body that organizes, promotes and participates in local and foreign trade fairs is the
AMinistry of Commerce and Tourism
BMinistry of finance
CChambers of Commerce
DExport Promotion Council
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Question 13
jamb1998
An example of a consumer protection agency is the?
ANigeria Bar association
BNigeria Medical Association
CFerderal Environmental Protection Agency
DManufacturers Association of Nigeria
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Question 14
jamb1998
Which of the following is a disadvantage of nationalization
AIt promotes poor economic planning
BThe cost of services is not determined by by market forces
CIt may lead to rationalization of resources
DThe development of local skills and technologyis retarded
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Question 15
jamb1998
The most essential element of a product is the
Aprice
Butility
Cdesign
Dcolour
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Question 16
jamb1998
A person who is cheated in business transaction can seek legal remedy
Aeven if the agreement is verbal and the amount involved is large
Bonly if the business is a sole proprietorship whose owner is known
Cregardless of the form of business organization
Donly if the transaction is documented in a contract
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Question 17
jamb1998
A minor is not permitted to enter into a valid contract because he
ACannot pay the consideration
BIs too young to interpret the law
CIs young in the eye of the law
DMay not be able to write the contract
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Question 18
jamb1998
Sabo and Gambo entered into a contract for the sale of two baskets of tomatoes belonging to Gambo. Before the date the date of delivery and without any default by Gambo, the tomatoes were stolen. This is an example of termination of contract by
Abreach
Bperformance
Cfault
Dfrustration
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Question 19
jamb1998
An agent must not make any secret profit in the performance of his duties but can be rewarded by his principal through
Aremuneration and indemnity
Bpayments of commision and salary
Cgranting of business concessions
Dforwarding of business links
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Question 20
jamb1998
Personnel activities that promote the general image of an organization are part of
