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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.

50 questions JAMB 1707 WAEC 2221 NECO 383 CUSTOM 2

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Past Questions

50 questions

Question 1 of 20 50 total questions

Question 1

jamb 1997

Use the conversation below to answer the question below;

MUSA: Taiwo why are you in business?

TAIWO: To optimize profit, provide quality products, and discharge my social responsibilities. What of you, Okon and Kalu

OKON: I am in business to cater to the needs of the consumers at all costs.

KALU: I am in business to make a profit, provided quality products at reasonable prices, and establish a good reputation for myself.

The businessman with the best business objectives is ------------------------

AOkon

BTaiwo

CKalu

DMusa

View Explanation & Discuss

Question 2

jamb 1997

Sudden technology changes can have the effect of making

Aa company's management style ineffective

Ba company's product obsolete

Cthe control menchanism difficult to implement

Dthe motivational factors in the company difficult to monitor

View Explanation & Discuss

Question 3

jamb 1997

The existing system of government and the administrative sub-division of a country which affect the operation of business in the country is described as

Aeconomic environment

Blegal environment

Cpolictical environment

Dsocial environment

View Explanation & Discuss

Question 4

jamb 1997

Social responsibility of business requires enterprises to

Ahold annual social parties for the public

Bdraw their workers only from the immediate environment

Caddress themselves to issues relating to the society

Dset up social welfare centers in their areas of operation

View Explanation & Discuss

Question 5

jamb 1997

A key advantage of delegation is that

Aworkers are prepared for hgher responsibilites

Bthe manager has less work to do

Cthe manager spends less time on planning

Dthe organization grows larger in size

View Explanation & Discuss

Question 6

jamb 1997

In a business organization, the annual operation plan or budget is a form of

Acasual plan

Bmedium-term plan

Clong-term plan

Dshort-term plan

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Question 7

jamb 1997

The management function of evaluating whether objectives are being achieved is

Aplanning

Bdirecting

Corganizing

Dcontrolling

View Explanation & Discuss

Question 8

jamb 1997

The main objective of a trade association can best be described as promoting and protecting

Athe products

Bcommon interest

Cthe market

Dcustomer's interest

View Explanation & Discuss

Question 9

jamb 1997

The least of the advantages of indigenization is that

Athe standard of living of the indigenes is improved

Bthe economy is controlled by the nationals

Centerpreneurals skill is developped

Dforeigners' domination is avoided

View Explanation & Discuss

Question 10

jamb 1997

The activities of consumers association in Nigeria have not been effective because

Athe consumers are too many

Bthe government is not favourabley dispose towards consumerism

Cthere is poor enlightenment about consumer rights

Dthe consumers have no medium for expressing their feelings

View Explanation & Discuss

Question 11

jamb 1997

Th overriding objective of the food and drug act in Nigeria is too prevent the

Aimportation of food and drug that can be locally manufactured

Bconsumption of food and drug not tested by the minitries of health

Cadulteration of food and drug sold in the country

Dmanufactures of food and drug from charging excessive prices

View Explanation & Discuss

Question 12

jamb 1997

One of the criteria for differentiating consumers markets from industrial ones is the

Atype of demand

Btype of supply

Cnature of the services rendered

Dprice of the goods

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Question 13

jamb 1997

The most important pieces of legislation governing business and commercial activities in Nigeria currently is the

ACompanies degree,1968

BTrade Disputes degree, 1976

CCompanies and Allied matters degree,1990

DBanks and Other Financial institution degree,1991

View Explanation & Discuss

Question 14

jamb 1997

When old customers stick to the old place to buy goods and services,it is known as

Agoodwil

Bpersonal factor

Cwindow shopping

Dpatronage

View Explanation & Discuss

Question 15

jamb 1997

The main advantage of using cinema as an advertising medium is that it is

Acheap

Baccurate

Caccessible

Dinformative

View Explanation & Discuss

Question 16

jamb 1997

When a vendor supplies newspapers from house to house and across the streets, the element of marketing mix involved is

Aproduct

Bprice

Cpromotion

Dplace

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Question 17

jamb 1997

The process of creating more for a product is called?

Aadvertising

Bmarketing

Cpromotion

Dconsumerism

View Explanation & Discuss

Question 18

jamb 1997

When a firm speaker of stock appreciation, it refers to

Achange in the value of its stocks resulting from price movement

Bincrease in the price of it shared quoted on the stock exchange

Can unexpected increase in the demand of its stock

Dthe value of its stock in the stock exchange

View Explanation & Discuss

Question 19

jamb 1997

A markets where new shares are trade is known

Aprimary market

Bstock exchange

Csecondary markets

Dmoney market

View Explanation & Discuss

Question 20

jamb 1997

Commercial banks are referred to as departmental stores of banking because they

Ahave many branches

Bhave many customers

Care found in the cities

Doffer many types of services

View Explanation & Discuss

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