JAMB - Commerce (2017)
1
Which of the following legislation aims primarily at the protection of consumers?
2
A bill of exchange already accepted can be discounted by the holder in ______?
3
An agreement that is enforceable in law is ________?
4
The factor of production that is relatively indestructible and immobile is _______?
5
An instrument used in lieu of legal tender is known as ______?
6
At the collapse of a business enterprises, the person appointed to dispose off the assets is called ________?
7
The process of converting a non-profit making organisation to a profit-making business is ________?
8
The letters E and OE stands for __________?
Answer(B)
Errors and omissions excepted
9
When a buyer has been overcharged for goods supplied, the seller issues a _______?
10
The fees charged on postal order by the post office is _____?
11
A government policy that encourages transfer of ownership from foreigners to indigenes of the country is known as ____?
12
The government agency involved in issuing of export licences is _______?
Answer(B)
Nigeria Export Promotion council
13
The quality of money that describe its uniformity is
14
One disadvantages of advertising is that it —
15
Water corporation is an example of ______?
16
The concept that refers to the sale, transfer or exchange of goods and services is
17
Production ends when goods and services ________
18
What is the reward accruable to land?
19
A demerit of communication is that it ________
Answer(C)
give room for distortion of fact
20
The function of commerce in relation to production is ______
21
An advantage of division of labour is _______?
Answer(A)
productivity and total output is increased
22
A major objective of all business resources is ______
23
What document is required when a country imposes valorem import duties on goods?
24
A major function of trade association is to _______
Answer(D)
foster cooperation among members
25
A partnership is dissolved due to ________
26
Another name or term for a dishonoured cheque is ______
27
An example of extractive occupation is ______
28
A major merit of the retaining middlemen is to _______
Answer(D)
stock goods produced by different manufacturer
29
Goods and services transferred from seller to buyer without immediate payment is referred to as ______
30
The process of buying and selling and distribution of goods and services is ______
31
The differences between the central bank and commercial bank is that the former ______
Answer(D)
serves as lender of last resort
32
The organised effort of consumers to protect themselves against the unfair practices of businessmen is known as __
33
The stock exchange is a market where _______
Answer(B)
all types of securities are sold
34
One of the determinants of choice of occupation is ______
35
The production process that combines two or more raw materials into end product is
36
The part of the computer that has the capacity to interpret instruction is _______
37
A demonstration of social responsibility by a business is the payment of _______
38
Risk bearing in business organisation is a function of the _____
39
The Nigeria Stock Exchange consist of ______
Answer(B)
secondary and primary market
40
A system where customer patronage is sought by producing what they need is referred to as _______?
41
The scope of commerce is limited to ________
42
Which of the following is an item in the marketing mix?
43
The business unit that applies the principle of one man, one vote is ______
44
The type of activity which turns processed raw materials into consumer and industrial goods is described as ________
45
Land as a factor of production does not vary in _______
