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 501· Occupation and production· JAMB
A major disadvantage of specialisation to the worker is
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Answer: B. monotony of work
Explanation and discussion
Question 502· Occupation and production· JAMB
An advantage of division of labour to the worker is
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Answer: C. increased skill and speed
Explanation and discussion
Question 503· Occupation and production· WAEC
Which of these renders a direct service?
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Answer: A. a lawyer
Explanation and discussion
Question 504· Occupation and production· WAEC
Building roads and bridges is an example of
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Answer: C. constructive industry
Explanation and discussion
Question 505· Occupation and production· WAEC
The reward for capital as a factor of production is
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Answer: A. interest
Explanation and discussion
Question 506· Occupation and production· JAMB
A carpenter who makes furniture from timber is engaged in
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Answer: C. secondary production
Explanation and discussion
Question 507· Occupation and production· JAMB
Production is complete only when goods
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Answer: B. reach the final consumer
Explanation and discussion
Question 508· Occupation and production· WAEC
A disadvantage of division of labour to the worker is
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Answer: C. boredom from repeating the same task
Explanation and discussion
Question 509· Occupation and production· JAMB
Producing goods for one's own consumption only is known as
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Answer: D. direct production
Explanation and discussion
Question 510· Occupation and production· JAMB
Mining and quarrying are examples of
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Answer: A. extractive industry
Explanation and discussion
Question 511· Occupation and production· JAMB
A police officer, a soldier and a civil servant all render
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Answer: B. indirect services
Explanation and discussion
Question 512· Occupation and production· WAEC
Workers such as teachers, doctors and lawyers render
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Answer: B. direct services
Explanation and discussion
Question 513· Occupation and production· WAEC
The entrepreneur is the factor of production who
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Answer: C. bears the risks of the business
Explanation and discussion
Question 514· Occupation and production· JAMB
A fisherman on Lake Kainji is engaged in which type of occupation?
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Answer: A. Extractive
Explanation and discussion
Question 515· Occupation and production· JAMB
Utility in production means
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Answer: D. the ability of goods to satisfy wants
Explanation and discussion
Question 516· Occupation and production· JAMB
Which of the following is engaged in secondary production?
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Answer: B. A cement factory
Explanation and discussion
Question 517· The stock exchange· WAEC
A stock exchange is a market for
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Answer: B. buying and selling securities
Explanation and discussion
Question 518· The stock exchange· JAMB
A bull on the stock exchange
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Answer: B. buys shares expecting prices to rise
Explanation and discussion
Question 519· The stock exchange· JAMB
The Securities and Exchange Commission (SEC) in Nigeria
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Answer: A. regulates the capital market
Explanation and discussion
Question 520· The stock exchange· WAEC
A stag is a speculator who
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Answer: C. buys new shares hoping to sell them quickly at a profit
Explanation and discussion

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JAMB and WAEC Commerce questions

A major disadvantage of specialisation to the worker is

An advantage of division of labour to the worker is

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 carpenter who makes furniture from timber is engaged in

Production is complete only when goods

A disadvantage of division of labour to the worker is

Producing goods for one's own consumption only is known as

Mining and quarrying are examples of

A police officer, a soldier and a civil servant all render

Workers such as teachers, doctors and lawyers render

The entrepreneur is the factor of production who

A fisherman on Lake Kainji is engaged in which type of occupation?

Utility in production means

Which of the following is engaged in secondary production?

A stock exchange is a market for

A bull on the stock exchange

The Securities and Exchange Commission (SEC) in Nigeria

A stag is a speculator who