2019 WAEC Commerce Theory (a) List four career opportunities available to a student of commerce. (b) State two functions...

WAEC 2019

(a) List four career opportunities available to a student of commerce.

(b) State two functions of an entrepreneur.

(c) Explain the following activities giving two examples of each:
i. extractive industry
ii. construction industry;
iii. manufacturing industry;
iv. tertiary industry.

Explanation

Career opportunities available to a commerce student:

  1. Trading/Wholesaling Retailing
  2. Marketing/salesmanship
  3. Agency
  4. Banking
  5. Accountancy
  6. Insurance
  7. Transportation
  8. Warehousing/Storekeeping
  9. Stockbroking
  10. Tourism
  11. Communication
  12. Advertising

(b) Functions of an entrepreneur:

i. An entrepreneur organizes all the other factors of production

ii. He provides capital.

iii. He takes the final decisions on all matters concerning the business.

v. He bears all the business risks

(c) i. Extractive industry: This deals with obtaining materials from nature or earth. Examples are farming, fishing, lumbering. mining and drilling.

ii. Construction industry: This involves the assembling of manufactured products into usable forms. It includes furniture making, construction of bridges, roads, rail, and seaports.

iii. Manufacturing industry: This involves the changing of raw materials into finished and semi-finished goods. Activities in this sector include making vehicles, textiles, refining, and brewing.

iv. Tertiary industry: This is concerned with the provision of commercial services including direct and indirect services. It involves the distribution and exchange of goods and services. Examples are banking, leaching, barbing, trading, entertainment, medical and legal services.


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