Jamb 2023 Commerce Past Questions And Answers
1
The concept that refers to the sale, transfer or exchange of goods and services is
- A. trade
- B. tariff
- C. industry
2
Which is the fastes means of transportation?
- A. road
- B. air
- C. rail
- D. water
3
At the collapse of a business enterprises, the person appointed to dispose off the assets is called
- A. an auctioneer
- B. an auditor
- C. a broker
- D. a liquidator
4
The rate where a country's exports exchange for its imports is called
- A. terms of trade
- B. balance of trade
- C. terms of payments
- D. balance of payments
5
A demerit of communication is that it
- A. increase the cost of goods in transit
- B. give room for distortion of fact
- C. hinder quick reception of messages over a long distance
- D. makes payment for goods cumbersome
6
An announcement of a person's willingness to enter into a contract is referred to as
- A. an acceptance
- B. a proxy
- C. consideration
- D. an offer
7
Money is generally acceptable for transaction due to
- A. the central bank's governor's signature
- B. the rule of the law
- C. its acceptability in the global market
- D. the legal backing
8
The payment made by a speculator to the buyer when he is unable to deliver stocks on the agreed date is
- A. contango
- B. arbitrage
- C. backwardation
- D. franco
9
The function of commerce in relation to production is
- A. helping in the extraction of raw materials from nature
- B. yielding result
- C. providing a link between the different stage of conversion of good
- D. satisfying
10
The four P's of marketing are also known as
- A. marketing mix
- B. product mix
- C. promotion mix
- D. advertising mix