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.
Farmers and all other workers concerned with getting raw materials from the earth are engaged in
Acommercial occupation
Bmanufacturing occupation
Cconstructive occupation
Dextractive occupation
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Question 442
waec2008
Babou Penn, a fisherman says he has all necessary materials to go to sea today, except the captain of his boat . Captain here as a factor of production refers to
Aenterpreneur
Bcapital
Clabour
Dland
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Question 443
waec2008
Production is defined as
Aan industrial activity
Bcreation of utilities
Cthe exchange of goods and services
Dchanging of raw materials into finished goods
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Question 444
waec2008
Which of the following is not a function of commerce?
AFacilitates mass production of goods
BAssists in raising capital
CCreates goods and services
DOffers employment
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Question 445
waec2008
Commerce can be defined as the
Aexchange of goods and services
Bdistribution and exchange of goods and services
Cdistribution of services at home
Dexport of services
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Question 446
waec2007
A document showing that a person has shipped certain goods through a named ship is
Abill of lading
Bbill of exchange
Cdock warrant
Dbill of entry
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Question 447
waec2007
A specialist on the stock exchange who buys and sells securities in his own name is a
AStag
BBull
CBroker
DJobber
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Question 448
waec2007
Which of the following refers to the division of market into identifiable sub-markets
AMarket research
BMarket segmentation
CMarket penetration
DMarketing mix
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Question 449
waec2007
Which of the following is an advantage of transportation by sea?
AGoods can be delivered from door to door
Bit is a cheaper means of transporting goods
Cit is accident free
Dit is the fastest means of transport
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Question 450
waec2007
Which of the following provides evidence of receipt of an important document sent through the post?
ARecorded delivery service
BAir mail service
CLetter post
DExpress delivery service
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Question 451
waec2007
Which of the following is not a means of water transport
ALiner
BTanker
CTruck
DBarge
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Question 452
waec2007
A document showing full details of the goods and passengers carried in a ship or aircraft is
ABill of lading
BAirway bill
CManifest
DIndent
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Question 453
waec2007
Which of the following involves the delivery of mails to a traveler without a fixed address
ASpeedpost
BReply paid
CRecorded delivery
DPost restante
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Question 454
waec2007
If the charterer delayed the ship beyond the lay days, he is asked to pay
Adead freight
Bdemurrage
Clump sum
Dfreight
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Question 455
waec2007
Madam Tope insured her shop premises for the sum of D60,000, when insuring the shop,she did not tell the Insurance company that she cooks in the shop, but told the insurance company that she sells second hand clothes. Hence she insured her store against natural causes. Tope's shop got burnt yesterday by fire from the cooking pot.
The amount D60,000 quoted represents
APremium
Bsum insured
Ccontribution
Dcompensation
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Question 456
waec2007
Madam Tope insured her shop premises for the sum of D60,000, when insuring the shop,she did not tell the Insurance company that she cooks in the shop, but told the insurance company that she sells second hand clothes. Hence she insured her store against natural causes. Tope's shop got burnt yesterday by fire from the cooking pot.
Which of the following insurance principles will prevent her from claiming compensation?
Aindemnity
Binsurable interest
CProximate cause
DUtmost good faith
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Question 457
waec2007
Madam Tope insured her shop premises for the sum of D60,000, when insuring the shop,she did not tell the Insurance company that she cooks in the shop, but told the insurance company that she sells second hand clothes. Hence she insured her store against natural causes. Tope's shop got burnt yesterday by fire from the cooking pot.
Which of the following insurance principles was breached by Madam Tope?
AInsurable interest
BContribution
CUtmost good faith
DSubrogation
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Question 458
waec2007
An open cheque is one
Aon which the amount is written only in figures
Bwhich has no name
Cwhich can be cashed over the counter
Dwhich has no specific amount written on it
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Question 459
waec2007
Which of the following is referred to as the oldest form of insurance?
