WAEC Commerce questions

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

All topics Advertising and marketing · 16 Business management and environment · 15 Commerce and its scope · 16 Communication · 17 Computers and ICT in business · 15 Consumer protection · 16 Documents used in trade · 18 Elements of commercial law · 16 Financing a business · 16 Foreign trade · 19 Forms of business organisation · 19 Home trade: retail and wholesale · 19 Insurance · 18 Money and banking · 19 Occupation and production · 17 The stock exchange · 17 Transport · 16 Warehousing · 15

Question 241· Occupation and production· WAEC
Specialisation leads to
Show answer
Answer: C. interdependence among workers and nations
Explanation and discussion
Question 242· Occupation and production· WAEC
A tailor is engaged in
Show answer
Answer: B. secondary production
Explanation and discussion
Question 243· Occupation and production· WAEC
Specialisation increases output because workers
Show answer
Answer: D. become more skilful at repeated tasks
Explanation and discussion
Question 244· Occupation and production· WAEC
A teacher is engaged in
Show answer
Answer: C. direct service
Explanation and discussion
Question 245· Occupation and production· WAEC
Extractive occupations include
Show answer
Answer: C. mining and fishing
Explanation and discussion
Question 246· Occupation and production· WAEC
A trader who carries tomatoes from Jos to a market in Lagos is engaged in
Show answer
Answer: C. commercial occupation
Explanation and discussion
Question 247· Occupation and production· WAEC
Tertiary production consists of
Show answer
Answer: C. commerce and services
Explanation and discussion
Question 248· Occupation and production· WAEC
A pair of shoes made in Aba is not fully 'produced' in the commercial sense until it
Show answer
Answer: A. reaches the person who will wear it
Explanation and discussion
Question 249· Occupation and production· WAEC
A policeman is said to render
Show answer
Answer: A. indirect service
Explanation and discussion
Question 250· Occupation and production· WAEC
A lawyer's work is an example of
Show answer
Answer: D. direct service
Explanation and discussion
Question 251· Occupation and production· WAEC
Which of these renders a direct service?
Show answer
Answer: A. a lawyer
Explanation and discussion
Question 252· Occupation and production· WAEC
Building roads and bridges is an example of
Show answer
Answer: C. constructive industry
Explanation and discussion
Question 253· Occupation and production· WAEC
The reward for capital as a factor of production is
Show answer
Answer: A. interest
Explanation and discussion
Question 254· Occupation and production· WAEC
A disadvantage of division of labour to the worker is
Show answer
Answer: C. boredom from repeating the same task
Explanation and discussion
Question 255· Occupation and production· WAEC
Workers such as teachers, doctors and lawyers render
Show answer
Answer: B. direct services
Explanation and discussion
Question 256· Occupation and production· WAEC
The entrepreneur is the factor of production who
Show answer
Answer: C. bears the risks of the business
Explanation and discussion
Question 257· The stock exchange· WAEC
A stock exchange is a market for
Show answer
Answer: B. buying and selling securities
Explanation and discussion
Question 258· The stock exchange· WAEC
A stag is a speculator who
Show answer
Answer: C. buys new shares hoping to sell them quickly at a profit
Explanation and discussion
Question 259· The stock exchange· WAEC
The Nigerian Exchange Group is located in
Show answer
Answer: D. Lagos
Explanation and discussion
Question 260· The stock exchange· WAEC
A speculator who sells shares expecting their prices to fall is a
Show answer
Answer: B. bear
Explanation and discussion

Practise Commerce like the real exam. A timed CBT, your score, and the topics to fix.

Start a Commerce test

WAEC Commerce questions

Specialisation leads to

A tailor is engaged in

Specialisation increases output because workers

A teacher is engaged in

Extractive occupations include

A trader who carries tomatoes from Jos to a market in Lagos is engaged in

Tertiary production consists of

A pair of shoes made in Aba is not fully 'produced' in the commercial sense until it

A policeman is said to render

A lawyer's work is an example of

Which of these renders a direct service?

Building roads and bridges is an example of

The reward for capital as a factor of production is

A disadvantage of division of labour to the worker is

Workers such as teachers, doctors and lawyers render

The entrepreneur is the factor of production who

A stock exchange is a market for

A stag is a speculator who

The Nigerian Exchange Group is located in

A speculator who sells shares expecting their prices to fall is a