Commerce Past Questions

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.

1,707 questions JAMB 1707 WAEC 2221 NECO 383 CUSTOM 2
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Past Questions

1,707 questions
Question 1 of 20 1,707 total questions
Question 281
jamb 2018

One of these is a current asset

AFittings
BMachineries
CMotor vehicles
Dstock
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Question 282
jamb 2018

Which of the following functions is not performed by warehousing?

AStabilization of price
Bproduction ahead of demand
Ccreating scarcity of goods
Dstorage of goods
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Question 283
jamb 2018

What is a Quota?

ATax pad on goods produced within a country
BA physical restriction placed on quantity of goods that can be imported
CTax paid on goods produced outside a country
DBan on all imported goods
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Question 284
jamb 2018

In the law of contact, a counter offer operates as

AA contact
Ban acceptance
Ca rejection
Da consensus
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Question 285
jamb 2018

Privatization is

ATransfer of ownership from individual to government
BTransfer of ownership from government to stakeholders
CTransfer of ownership from government to individuals
DGovernment taking charge of all businesses
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Question 286
jamb 2018

Trade fairs in Nigeria are organized by

AMinistry of commerce and industry
BChambers of commerce
C
DManufacturer’s Association of Nigeria
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Question 287
jamb 2018

Which of the following is a verbal means of communication

ATelephone
BExpress mail
CBusiness reply services
Dtelex
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Question 288
jamb 2018

One of the major problems of a sole proprietor is sourcing for

AFunds
BLabour
CRaw materials
DMachineries
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Question 289
jamb 2018

Current account holders withdraw money through

ACredit card
BCheque
CTransfer
DWithdrawal form
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Question 290
jamb 2018

The act of selling in a foreign market at a price lower than the cost price is called

ADumping
Bhedging
Cfair trading
Dunder sale
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Question 291
jamb 2017
If a business uses part of its profit to develop the area where it operates, the business is fulfilling its ______
Aeconomic responsibilities
Bmarketing responsibilities
Csocial responsibilities
Dmanagerial responsibilities
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Question 292
jamb 2017
Any activity directed at conveying commodities to buyers is an aspect _________
Aselling
Bdelivering
Cadvertising
Dmarketing
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Question 293
jamb 2017
Factors considered when setting up a retail business is one of the following _________
Acapital, experience and trading
Bexperience, term of trade, and trading
Ccapital, trading and term of trade
Dcapital, type of goods and source of supply
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Question 294
jamb 2017
The production of goods and services in anticipation of demand is made possible by _______
Apackaging
Bwarehousing
Cbranding
Dadvertising
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Question 295
jamb 2017
The effects of devaluation includes all except _______
Aexports become cheaper
Bexpansion of local industries
Cincrease in standard of living
Dincrease in import
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Question 296
jamb 2017
Land as a factor of production does not vary in _______
Aquantity
Bnature
Cquality
Dcost
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Question 297
jamb 2017
The type of activity which turns processed raw materials into consumer and industrial goods is described as ________
Aextractive
Bmanufacturing
Cconstructive
Dprocessing
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Question 298
jamb 2017
The business unit that applies the principle of one man, one vote is ______
Asole proprietorship
Bpartnership
Cpublic company
Dco-operative society
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Question 299
jamb 2017
Which of the following is an item in the marketing mix?
ADemand
Bpromotion
Cmarket
Dconsumer
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Question 300
jamb 2017
The scope of commerce is limited to ________
Awholesale and entrepot trade
Btrade and aids-to-trade
Cwholesale and retail trade
Dhome and foreign trade
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