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Wednesday, 30 September 2026
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Commerce Past Questions and Answers

Commerce Questions

Question 281:
In a common market, member countries agree basically to
  • A Place bans on the other countries’ product
  • B Wage war against other countries’ product
  • C Establish common barriers against countries outside the market
  • D Negotiate with countries outside the market for favourable terms of trade .
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Question 282:
Emeka ordered goods for his retail shop. The manufacturer sells the goods at retail price of N 500 but would give it to Emeka at N 400. What kind of discount did he get?
  • A Cash discount
  • B Trade discount
  • C Quantity discount
  • D Seasonal discount.
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Question 283:
The conversion of raw material into finished products creates
  • A Marginal utility
  • B Place utility
  • C Form utility
  • D Time utility
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Question 284:
Commerce makes it possible for man to live in a
  • A Complex and organized society
  • B Society characterized by subsistency
  • C Society characterized by dependency
  • D Simple and organized society
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Question 285:
Use the information below to answer questions 3 and 4.<br/>Aboki Plc, became the insolvent and decided to wind up to meet the legitimate claims of its creditors.<br/>Babalawee was called in to manage the dissolution.<br/>after paying the debts of aboki Plc, the balance goes to?
  • A Aboki Plc
  • B Babalawee
  • C Shareholders
  • D Creditors
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