Commerce Past Questions and Answers

Ojo bought a bicycle for #20,000, and repaired it at a cost of #5,000. He then sold the bicycle for #30,000.<br/>What is the cost of goods sold

Which of the following mode of transport involves the use of tramps?

(a) Define commerce.<br/>(b) Explain six functions of commerce in an economy.<br/><br/>

(a) What is production?<br/><i>(b) Explain the following factors of production:</i> (i) land (ii) labour (iii) capital<br/>(c) State three functions of an entrepreneur.

(a) State four steps that can be taken by a customer opening a current account.<br/>(b) Explain six functions of commercial banks.<br/>