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Home
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Commerce
JAMB 2005
Commerce 2005 JAMB Past Questions
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Introduction to Commerce
Meaning, scope, characteristics and functions of Commerce
History of Commerce
Relationship of Commerce with other areas of production
Importance of Commerce in the economy
Occupations
Meaning and Importance
Types of occupations: Industrial, commercial, direct and indirect services
Factors influencing choice of occupation
Production
Meaning and types: Primary, secondary, tertiary
Factors of production, characteristics & rewards
Division of labour and specialization
Inter-relationship between production and exchange
Business Units
Meaning and objectives of business
Forms: Sole proprietorship, Partnership, Limited liability companies, Public enterprises, Cooperative societies
Characteristics, formation, advantages and disadvantages
Business mergers
Choice of business units
Dissolution and liquidation
Business Capital and Finance
Meaning and types of capital
Working capital, profit and turnover calculations
Sources of finance
Problems of sourcing finance
Role of Bureau de Change
Trade Associations and Economic Groups
Trade and manufacturer associations
Chambers of Commerce
Employers’, Consumers’ and Manufacturers’ associations
Economic groups: ECOWAS, IMF, IBRD, UNCTAD, etc.
Trade - Home Trade
Retail trade: Types, functions, advantages and disadvantages, trends
Wholesale trade: Types, functions
Warehousing: Types, functions
Channels of distribution
Trade - Foreign Trade
Balance of trade/payment, terms of trade
Export, import and entrepôt procedures and documents
Barriers to international trade
Roles of Customs, Excise, Ports Authority
Purchase and Sale of Goods
Documents: Enquiry, quotation, invoice, bill of lading, etc.
Terms of trade: Discounts, C.O.D., C.I.F., F.O.B.
Means and terms of payment
Aids to Trade
Advertising
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Finance and Financial Institutions
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Credit unions and thrift societies
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Meaning, importance and functions
Marketing concept and mix
Market segmentation
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Sales promotion
Personal selling
Legal Aspects of Business
Simple contract
Agency, Sale of Goods Act, Hire Purchase Act
Employer/employee rights
Government regulations
Consumer protection
ICT in Commerce
Computer applications
ICT terms
E-commerce, E-banking, E-business
Business Environment and Social Responsibility
Types of environment
Safe products and pollution
Corporate social responsibility
Nationalisation, Indigenisation and Divestiture
Meaning, aims, advantages, disadvantages
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31
A cheque drawn by a bank official on the bank's deposits in another bank on a customer's instruction is known as?
A.
promissary note
B.
bankdraft
C.
banker's order
D.
travellers' cheque
View Answer & Discuss
JAMB 2005
32
A type of credit offered by both commercial and merchant banks in Nigeria is?
A.
trade credit
B.
line of credit
C.
discounting facility
D.
overdraft
View Answer & Discuss
JAMB 2005
33
A major function of a chamber of commerce is?
A.
increaseing productivity
B.
promoting both home and foreign trade
C.
promoting trade in a particular line
D.
maximizing profit
View Answer & Discuss
JAMB 2005
34
Which of the middlemen in the channel of distribution has tittle to the goods he distributes?
A.
The merchant wholesaler
B.
The agent
C.
The limited wholersaler
D.
The retailer
View Answer & Discuss
JAMB 2005
35
Which of the following confirms the accuracy of the duty charged on imported goods?
A.
An indent
B.
Consular invoice
C.
Consignment note
D.
Shipping note
View Answer & Discuss
JAMB 2005
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