JAMB and WAEC Commerce questions: Home trade: retail and wholesale

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

1. Question 21· Home trade: retail and wholesale· WAEC

   A shop that sells a wide variety of goods in separate sections under one roof is a

   • Adepartment store
   • Bkiosk
   • Cmobile shop
   • Dmarket stall

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   Explanation and discussion

2. Question 22· Home trade: retail and wholesale· WAEC

   Bola carries groceries on a tray and sells them along the streets of Ibadan. She is

   • Aa chain-store owner
   • Ba hawker
   • Ca supermarket operator
   • Da wholesaler

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   Explanation and discussion

3. Question 23· 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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4. Question 24· Home trade: retail and wholesale· JAMB

   Self-service is a feature of

   • Amobile shops
   • Bkiosks
   • Chawking
   • Dsupermarkets

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5. Question 25· Home trade: retail and wholesale· WAEC

   Itinerant traders are traders who

   • Amove from place to place selling goods
   • Bown department stores
   • Csell only online
   • Drun banks

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6. Question 26· Home trade: retail and wholesale· WAEC

   Which of these is a large-scale retail outlet?

   • Aa market stall
   • Ba kiosk
   • Ca hawker
   • Da supermarket

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   Explanation and discussion

7. Question 27· 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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8. Question 28· 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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   Explanation and discussion

9. Question 29· 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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10. Question 30· 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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11. Question 31· Home trade: retail and wholesale· WAEC

    A credit sale differs from hire purchase in that under a credit sale

    • Ano payment is ever made
    • Bthe seller keeps ownership until the last payment
    • Cownership passes to the buyer at once
    • Dgoods cannot be repossessed for any reason

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12. Question 32· Home trade: retail and wholesale· WAEC

    Mail order businesses sell goods through

    • Aopen markets
    • Bcatalogues, with delivery by post or courier
    • Cstreet hawking
    • Dvending machines

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    Explanation and discussion

13. Question 33· 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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14. Question 34· 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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15. Question 35· Home trade: retail and wholesale· WAEC

    A disadvantage of eliminating the wholesaler is that

    • Amanufacturers sell faster
    • Bprices always fall
    • Cretailers must buy in large quantities and store goods
    • Dconsumers get credit

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16. Question 36· Home trade: retail and wholesale· WAEC

    A chain store is also known as a

    • Amail-order house
    • Bunit shop
    • Cmultiple shop
    • Dkiosk

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17. Question 37· Home trade: retail and wholesale· WAEC

    Breaking bulk is a function of the

    • Aconsumer
    • Bmanufacturer
    • Cwholesaler
    • Dbanker

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18. Question 38· 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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19. Question 39· Home trade: retail and wholesale· JAMB

    A franchise is an arrangement in which

    • Agoods are bartered
    • Ba firm closes
    • Cgovernment owns a shop
    • Da business is allowed to trade under another firm's brand

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20. Question 40· Home trade: retail and wholesale· WAEC

    A drawback of hire purchase to the buyer is that

    • Ano deposit is required
    • Bgoods are delivered late always
    • Cthe total price paid is higher than the cash price
    • Downership passes at once

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    Explanation and discussion