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.
Dmakes available products that can not be produced by a country
Ewidens the world market
View Explanation & Discuss
Question 162
neco2001
Under what form of life insurance policy is premium paid over an agreed number of years and the sum assured is paid either at the end of that specified time or when the policy holder dies, whichever comes first?
Aannuity
Bdeterred annuity
Cendowment
Dterm
Ewhole life
View Explanation & Discuss
Question 163
neco2001
What is NOT a suitable reason for the growth in large retail business?
Adistribution of wealth through expansion of retail outlets because there is great profit
Bimproved transportation system which makes people able to move about easily to buy goods
Clow cost per unit of goods resulting from economics of large scale
Dpeople’s willingness to migrate from rural areas to towns for white collar jobs
Erise in standards of living of people resulting from improved wages/salaries
View Explanation & Discuss
Question 164
neco2001
A voluntary body formed by members of a particular branch of trade or industry to represent the interests of members is known as
Aco-operative society
Bindustrial association
Cmanufacturers’ association
Dtrade and industry practitioners
Etrade association
View Explanation & Discuss
Question 165
neco2001
What is NOT a function of the chambers of commerce? They
Aarbitrate and settle disputes among members
Bcollect and pass important information to all members and the general public
Cconsult and co-operate with government on matters of trade and industry
Dmake members aware of government policies concerning customs and regulations
Eserve as media for the expression of the opinions of employers on matters relating to employment
View Explanation & Discuss
Question 166
neco2001
In which service will a sole trader NOT be found?
Abusiness consultant
Belectrician
Cdecorator
DNational Electric Power Authority
Esurveyor
View Explanation & Discuss
Question 167
neco2001
What is NOT a source of capital for a business?
Aborrowing from somewhere
Bissuing of dividend warrant
Cretained profit
Dissuing of shares
Epersonal savings
View Explanation & Discuss
Question 168
neco2001
What is NOT a function of a retailer?
Agranting credit to consumers
Bguiding the consumers in making their choices
Cinsuring goods for consumers
Dpaying personal attention to consumers
Eproviding goods wanted by the consumers
View Explanation & Discuss
Question 169
neco2001
A document which makes it obligatory on the part of the seller to supply the goods or services if the inquirer accepts the conditions stated therein is called Alan
Ainquiry
Border
Cinvoice
Dquotation
Ereceipt
View Explanation & Discuss
Question 170
neco2001
What is NOT an advantage of direct distribution of goods to the consumer by the manufacturer?
Acloser contact market trends, etc.
Bdecrease in bad debts
Cgreater intensiveness of the sales campaign
Dno trading discounts need be allowed
Esales are more accurately and efficiently made to the consumer
View Explanation & Discuss
Question 171
neco2001
What is NOT the function of an entrepreneur?
Abearing risks
Bdeciding on tax to pay
Cdeciding what to produce
Dorganizing other factors
Eproviding initial capital
View Explanation & Discuss
Question 172
neco2001
The word ‘Commerce’ means
Abuying and selling of goods and services
Bexchange and distribution of goods and services
Clife-blood of every nation
Dproduction of utilities
Etrade and all the services which assist trade
View Explanation & Discuss
Question 173
neco2001
The Articles of Association of a company do NOT contain
Aa method of dealing with any alterations in the amount of capital
Ba method of sharing profits and the payment of dividends
Ca procedure for calling general meeting/method of voting
Dthe amount of the authorized capital, showing its division into shares
Ethe issue, transfer and forfeiture of shares
View Explanation & Discuss
Question 174
neco2001
The feature of a supermarket is
Ahaving central control from head-office
Bsales common household goods
Csales of goods without owning shops
Dsimilarity in shops’ frontages
Ethat there are many shops under a roof
View Explanation & Discuss
Question 175
neco2001
The bringing of ownership and management of a former private industry under the control of the government is called
Acorporation
Bindustrialization
Cnationalization
Dparticipation
Eprivatization
View Explanation & Discuss
Question 176
neco2000
Ships that pick up cargo from any port and travels anytime are called
Acargo ships
Bferries
Csteamers
Dtankers
Etramps
View Explanation & Discuss
Question 177
neco2000
What is the cost of goods sold?
AN 2220
BN 2500
CN 2800
DN 4000
EN 4300
View Explanation & Discuss
Question 178
neco2000
The advertising medium which uses electric current in bulbs is referred to as
Abill boards
Bneon signs
Cposters
Dtelevision
Evideo
View Explanation & Discuss
Question 179
neco2000
Which of the following is NOT part of the marketing mix?
Apersonnel
Bplace
Cprice
Dproduct
Epromotion
View Explanation & Discuss
Question 180
neco2000
The sum which the insured pays periodically to his insurance company is called
