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Commerce Past Questions and Answers

Jamb Commerce Questions

Question 36:

A person who is cheated in business transaction can seek legal remedy

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A Even if the agreement is verbal and the amount involved is large
B Only if the business is a sole proprietorship whose owner is known
C Regardless of the form of business organization
D Only if the transaction is documented in a contract

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Question 37:

The most essential element of a product is the

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A Price
B Utility
C Design
D Colour

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Question 38:

Which of the following is a disadvantage of nationalization

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A It promotes poor economic planning
B The cost of services is not determined by by market forces
C It may lead to rationalization of resources
D The development of local skills and technologyis retarded

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Question 39:

An example of a consumer protection agency is the?

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A Nigeria Bar association
B Nigeria Medical Association
C Ferderal Environmental Protection Agency
D Manufacturers Association of Nigeria

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Question 40:

The body that organizes, promotes and participates in local and foreign trade fairs is the

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A Ministry of Commerce and Tourism
B Ministry of finance
C Chambers of Commerce
D Export Promotion Council

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