JAMB and WAEC Commerce questions: Commerce and its scope

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

1. Question 21· Commerce and its scope· JAMB

   Which of these activities is part of trade rather than an aid to trade?

   • Ainsurance
   • Bretailing
   • Cbanking
   • Dadvertising

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   Explanation and discussion

2. Question 22· Commerce and its scope· WAEC

   Barter is difficult when the goods to be exchanged

   • Aare cheap
   • Bcannot be divided easily
   • Care plentiful
   • Dare light

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   Explanation and discussion

3. Question 23· Commerce and its scope· WAEC

   Commerce is made up of trade and

   • Aaids to trade
   • Bproduction
   • Cagriculture
   • Dmining

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   Explanation and discussion

4. Question 24· Commerce and its scope· WAEC

   Which of these hindrances to trade is removed by transport?

   • Arisk of loss
   • Black of finance
   • Cdistance between producers and consumers
   • Dlack of information

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   Explanation and discussion

5. Question 25· Commerce and its scope· WAEC

   Commerce bridges the gap between

   • Ateachers and students
   • Bproducers and consumers
   • Cdoctors and patients
   • Dparents and children

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   Explanation and discussion

6. Question 26· Commerce and its scope· WAEC

   A function of commerce is to

   • Agrow food crops
   • Bmake goods available where they are needed
   • Cmine minerals
   • Dmanufacture cars

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   Explanation and discussion

7. Question 27· Commerce and its scope· WAEC

   The branch of commerce that deals with the buying and selling of goods is

   • Aindustry
   • Btrade
   • Caids to trade
   • Dextraction

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   Explanation and discussion

8. Question 28· Commerce and its scope· WAEC

   Commerce is concerned with

   • Amanufacturing only
   • Bgrowing crops
   • Cdistributing goods and services from producers to consumers
   • Dmining

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   Explanation and discussion

9. Question 29· Commerce and its scope· WAEC

   Which of these is an aid to trade?

   • Afarming
   • Bbanking
   • Cfishing
   • Dmining

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   Explanation and discussion

10. Question 30· Commerce and its scope· WAEC

    The problem in barter of finding someone who has what you want and wants what you have is called

    • Aspecialisation
    • Bdivision of labour
    • Copportunity cost
    • Ddouble coincidence of wants

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    Explanation and discussion

11. Question 31· Commerce and its scope· JAMB

    Which of the following is an aid to trade?

    • ARetailing
    • BManufacturing
    • CMining
    • DInsurance

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    Explanation and discussion