JAMB and WAEC Commerce questions

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

All topics Advertising and marketing · 32 Business management and environment · 32 Commerce and its scope · 31 Communication · 33 Computers and ICT in business · 29 Consumer protection · 30 Documents used in trade · 34 Elements of commercial law · 31 Financing a business · 32 Foreign trade · 40 Forms of business organisation · 40 Home trade: retail and wholesale · 40 Insurance · 39 Money and banking · 40 Occupation and production · 33 The stock exchange · 34 Transport · 33 Warehousing · 28

Question 481· Money and banking· JAMB
A cheque that can only be paid into a bank account and not cashed over the counter is
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Answer: D. a crossed cheque
Explanation and discussion
Question 482· Money and banking· JAMB
An arrangement that lets a current account holder withdraw more than the balance, up to an agreed limit, is
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Answer: D. an overdraft
Explanation and discussion
Question 483· Money and banking· JAMB
An instruction from a customer to the bank to pay a fixed sum to another person at regular intervals is a
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Answer: A. standing order
Explanation and discussion
Question 484· Occupation and production· JAMB
A farmer selling yams at Bodija market is engaged in
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Answer: D. trade
Explanation and discussion
Question 485· Occupation and production· WAEC
A secondary school teacher provides
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Answer: C. a direct service
Explanation and discussion
Question 486· Occupation and production· WAEC
Specialisation leads to
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Answer: C. interdependence among workers and nations
Explanation and discussion
Question 487· Occupation and production· WAEC
A tailor is engaged in
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Answer: B. secondary production
Explanation and discussion
Question 488· Occupation and production· WAEC
Specialisation increases output because workers
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Answer: D. become more skilful at repeated tasks
Explanation and discussion
Question 489· Occupation and production· WAEC
A teacher is engaged in
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Answer: C. direct service
Explanation and discussion
Question 490· Occupation and production· WAEC
Extractive occupations include
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Answer: C. mining and fishing
Explanation and discussion
Question 491· Occupation and production· WAEC
A trader who carries tomatoes from Jos to a market in Lagos is engaged in
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Answer: C. commercial occupation
Explanation and discussion
Question 492· Occupation and production· JAMB
Division of labour is limited mainly by
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Answer: C. the size of the market
Explanation and discussion
Question 493· Occupation and production· WAEC
Tertiary production consists of
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Answer: C. commerce and services
Explanation and discussion
Question 494· Occupation and production· WAEC
A pair of shoes made in Aba is not fully 'produced' in the commercial sense until it
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Answer: A. reaches the person who will wear it
Explanation and discussion
Question 495· Occupation and production· WAEC
A policeman is said to render
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Answer: A. indirect service
Explanation and discussion
Question 496· Occupation and production· JAMB
Building roads and houses is an example of
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Answer: A. secondary production
Explanation and discussion
Question 497· Occupation and production· WAEC
A lawyer's work is an example of
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Answer: D. direct service
Explanation and discussion
Question 498· Occupation and production· JAMB
Building bridges and roads is classified as
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Answer: A. constructive industry
Explanation and discussion
Question 499· Occupation and production· JAMB
Which of these renders an indirect service?
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Answer: C. a customs officer
Explanation and discussion
Question 500· Occupation and production· JAMB
A disadvantage of specialisation is
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Answer: A. monotony and over-dependence on others
Explanation and discussion

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JAMB and WAEC Commerce questions

A cheque that can only be paid into a bank account and not cashed over the counter is

An arrangement that lets a current account holder withdraw more than the balance, up to an agreed limit, is

An instruction from a customer to the bank to pay a fixed sum to another person at regular intervals is a

A farmer selling yams at Bodija market is engaged in

A secondary school teacher provides

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

Division of labour is limited mainly by

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

Building roads and houses is an example of

A lawyer's work is an example of

Building bridges and roads is classified as

Which of these renders an indirect service?

A disadvantage of specialisation is