JAMB - Commerce (2011)
1
The most important function of commerce is in?
Answer(C)
facilitating exchange among individuals and firms
2
The three main classification of occupation are?
Answer(D)
industry, commerce and services
3
An oil exploration company is engaged in?
4
Service rendered to the public is provided by?
5
The creation of goods and services to satisfy human wants is referred to as?
6
Resources obtained from the extractive sector that are transformed into finished products are examples of?
7
Which of the following is a limitation of division of labour?
Answer(D)
Reduction in labour force
8
An individual that links the producer with the retailer is?
9
One of the functions of a retailer is the?
10
The main frame of selling directly to the consumers by manufacturers is to?
Answer(B)
make contact with individual consumers
11
Balance of payment problems arise if a country's?
Answer(B)
imports is more than exports
12
The three components of a country's balance of payments are?
Answer(A)
current account, capital account and monetary movement account
13
A document that indicates obligation that is transferable by delivery and endorsement is a?
14
The document which can be exchange for a bill of lading is?
15
The price quoted which includes the cost of insurance, freight and all delivery charges to the importer's warehouse is?
16
The purchase of goods under the CWO system of payment implies that?
Answer(A)
money must be enclosed when ordering
17
The most effective nut limited medium of advertising in Nigeria is?
18
A cheque that has been drawn but not presented for payment can still be honored?
19
The major source of income to commercial banks is?
20
Mr. Lawal insured his warehouse against burglary but it was later gutted by fire. this implies that?
Answer(D)
the loss should be borne by Mr. Lawal
21
The agreement of insurers to spread risks among themselves is a major feature of?
22
Inbound tourism occurs when?
Answer(B)
resident of a country travel to another country
23
One of the major disadvantages of pipeline transportation is its?
Answer(A)
high cost of construction
24
The business organization that can effectively combine management with control is?
25
When two or more companies agree to execute a project too large for one to handle, this is referred to as?
26
In the event of voluntary liquidation, the appointed of a liquidator is the responsibility of the?
27
A source of business financing which involves pledging of a specific assets is?
28
An example of a trade association is?
29
A broker is an agent who links a potential investor with?
30
Second-tier Securities Market differ from the First-tier Securities Market in that the former is?
31
A communication process providing information for decision-making in an organization is the?
Answer(C)
Information Retrieval System
32
The managerial ability of a supervisor in an organization may be underutilized if the?
Answer(C)
span of control is narrow
33
The arrangement and interrelationship of the various components and positions of a business is referred to as?
34
The variety of goods and services which a company offers for sale is its?
35
Activities undertaken to create awareness for goods by conducting contest is?
36
The slogan, a wonderful world, used by a communication network is a form of?
37
To make a simple contract valid, the intention must be?
38
The major parties to an agency relationship are the?
39
One of the obligations of an employer to an employee is to?
Answer(A)
indemnify him against liabilities incurred on duty
40
The body charged with the responsibility of regulating foods and drugs in Nigeria is the?
41
The physical components of a computer system refers to the?
42
An example of a computer operating system is?
43
Intranet differs from extranet in that the former?
Answer(C)
is restricted to employees of an organization
44
A predominant make-up language for web pages is the?
45
A software application that enables a user to display and interact with texts, images and videos is the?
