JAMB Commerce questions: Home trade: retail and wholesale

21 questions with answers and explanations. Tap an option to check yourself.

1. Question 1· Home trade: retail and wholesale· JAMB

   A trader who buys goods in bulk from manufacturers and sells in smaller quantities to retailers is a

   • Abroker
   • Bconsumer
   • Cwholesaler
   • Dfactor

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   Explanation and discussion

2. Question 2· Home trade: retail and wholesale· JAMB

   Chain stores that sell the same kind of goods in many towns under one owner are also called

   • Amultiple shops
   • Bdepartment stores
   • Cmail-order houses
   • Dtied shops

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3. Question 3· Home trade: retail and wholesale· JAMB

   Cash discount is given mainly to encourage

   • Atrade between dealers
   • Bbulk buying
   • Cprompt payment
   • Dadvertising

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4. Question 4· Home trade: retail and wholesale· JAMB

   A wholesaler performs the function of

   • Abreaking bulk
   • Bmanufacturing
   • Cmining
   • Dextracting

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5. Question 5· Home trade: retail and wholesale· JAMB

   A trader buys goods listed at ₦40,000 less 10% trade discount. How much does he pay?

   • A₦40,000
   • B₦44,000
   • C₦4,000
   • D₦36,000

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6. Question 6· Home trade: retail and wholesale· JAMB

   The elimination of the wholesaler is most likely when

   • Athe manufacturer owns retail outlets or sells online directly
   • Bgoods are produced far from consumers
   • Cgoods are bulky and sold in small quantities
   • Dretailers have little capital

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7. Question 7· Home trade: retail and wholesale· JAMB

   Which of these is a service rendered by the wholesaler to the manufacturer?

   • ABreaking bulk for final consumers
   • BDisplaying goods in a shop window
   • CGiving consumers credit
   • DBuying in large quantities and relieving him of storage

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8. Question 8· Home trade: retail and wholesale· JAMB

   Which of these is a function of the retailer to the consumer?

   • ABreaking bulk into small quantities
   • BFinancing the manufacturer
   • CWarehousing for the producer
   • DAdvertising for the wholesaler

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9. Question 9· Home trade: retail and wholesale· JAMB

   A disadvantage of the small-scale retailer is

   • Aflexible opening hours
   • Bpersonal contact with customers
   • Climited capital
   • Dgiving credit to known customers

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10. Question 10· Home trade: retail and wholesale· JAMB

    A multiple shop is

    • Aa mail order firm
    • Ba single kiosk
    • Cone of a chain of shops owned by one firm selling similar goods
    • Da market stall

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11. Question 11· Home trade: retail and wholesale· JAMB

    After-sales service is provided by retailers to

    • Aimport goods
    • Badvertise only
    • Cmaintain and repair goods sold
    • Dpay taxes

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12. Question 12· Home trade: retail and wholesale· JAMB

    A supermarket differs from a department store mainly because a supermarket

    • Ais always owned by government
    • Brelies on self-service of mainly groceries and household goods
    • Csells only on credit
    • Dhas no cashiers

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13. Question 13· Home trade: retail and wholesale· JAMB

    Self-service is a feature of

    • Amobile shops
    • Bkiosks
    • Chawking
    • Dsupermarkets

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14. Question 14· Home trade: retail and wholesale· JAMB

    A department store differs from a supermarket in that it

    • Auses only self-service
    • Bsells only food
    • Cis always small
    • Dhas many departments under one roof and gives personal service

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15. Question 15· Home trade: retail and wholesale· JAMB

    Retail cooperatives return part of their surplus to members as

    • Ataxes
    • Binterest on loans
    • Csalaries
    • Ddividend on purchases

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16. Question 16· Home trade: retail and wholesale· JAMB

    A retailer who sells through catalogues and delivers by post is a

    • Akiosk
    • Bchain store
    • Chypermarket
    • Dmail-order business

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17. Question 17· Home trade: retail and wholesale· JAMB

    A customer buys a ₦50,000 item on credit with 2% cash discount for payment within a week. If she pays promptly, how much does she pay?

    • A₦49,000
    • B₦48,000
    • C₦51,000
    • D₦50,000

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18. Question 18· Home trade: retail and wholesale· JAMB

    Under hire purchase, ownership of the goods passes to the buyer

    • Aafter the last instalment is paid
    • Bon delivery
    • Cbefore any payment
    • Dwhen the agreement is signed

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19. Question 19· Home trade: retail and wholesale· JAMB

    A retailer who moves from place to place selling goods is

    • Aan itinerant trader
    • Ba unit retailer
    • Ca multiple shop
    • Da wholesaler

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20. Question 20· Home trade: retail and wholesale· JAMB

    Which of these is a function of the wholesaler to the manufacturer?

    • Abuying in bulk, so the manufacturer can concentrate on production
    • Bgiving credit to consumers
    • Cdisplaying goods in shops
    • Dselling in small quantities to consumers

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    Explanation and discussion