Waec 1990 Commerce Past Questions And Answers
1
The law which stipulate that labels should give an accurate account of a product is the?
- A. price control act
- B. consumer credit act
- C. trade description act
- D. hire purchase act
2
The organization of Petroleum Exporting Countries(OPEC) is an example of a?
- A. cartel
- B. trust
- C. holding company
- D. consortium
3
Which of the following is not an essential of a contract?
- A. Offer and acceptance
- B. Intention to create legal relations
- C. All contracts written out
- D. Legality of object
4
Which of the following is not part of the facilities provided by the Nigerian Ports Authority?
- A. Dredging
- B. Warehousing
- C. Collection of customs duties
- D. Loading and off-loading of cargoes
5
Which of the following is one of the functions of commerce?
- A. Manufacturing
- B. Growing of tomatoes
- C. Storage of goods
- D. Construction of roads
6
One advantage of personal selling is?
- A. low cost
- B. immediate feedback
- C. the appeal to many people at a time
- D. self service
7
The major divisions of Commerce are?
- A. import, export and transport
- B. trade, communication and warehousing
- C. trade and auxiliaries to trade
- D. exchange, consumption and production
8
Entrepot Trade refers to?
- A. importing for domestic consumption
- B. importing for industrial use
- C. importing for government concerns
- D. import for re-port
9
The organizing efforts of consumers to protect themselves against the unfair practices of business is called?
- A. strike
- B. consumerism
- C. amalgamation
- D. co-operation
10
(a) Distinguish between Nationalization and Indigenisation
(b) State any five advantages of nationalization and two objectives of indigenisation.
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