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Home
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Commerce
NECO 2002
Commerce 2002 NECO 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
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Meaning and types: Primary, secondary, tertiary
Factors of production, characteristics & rewards
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Business Units
Meaning and objectives of business
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Characteristics, formation, advantages and disadvantages
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Role of Bureau de Change
Trade Associations and Economic Groups
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Trade - Home Trade
Retail trade: Types, functions, advantages and disadvantages, trends
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Warehousing: Types, functions
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Balance of trade/payment, terms of trade
Export, import and entrepôt procedures and documents
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Roles of Customs, Excise, Ports Authority
Purchase and Sale of Goods
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Terms of trade: Discounts, C.O.D., C.I.F., F.O.B.
Means and terms of payment
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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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41
The different types of occupation in which people are engaged can be grouped as
A.
Direct Services, Commercial and industrial
B.
Manufacturer, Blacksmith and Industrial
C.
Industrial, Manufacturing and Commercial
D.
Teaching, Manufacturing and Commercial
E.
Trading, Teaching and Commercial
View Answer & Discuss (1)
NECO 2002
42
Which business unit has a membership range of 2-50?
A.
Cooperative Society
B.
Partnership
C.
Private Limited Company
D.
Public Enterprise
E.
Public Limited Company
View Answer & Discuss
NECO 2002
43
What covers the risk which an employer may suffer as a result of the dishonesty of an employee?
A.
accident insurance
B.
export credit insurance
C.
fidelity guarantee insurance
D.
fire insurance
E.
life assurance
View Answer & Discuss
NECO 2002
44
A businessman started with N100,000 and spent N80,000 in buying premises and equipment. The balance of N20,000 is his
A.
authorized capital
B.
called-up capital
C.
capital employed
D.
fixed capital
E.
working capital
View Answer & Discuss
NECO 2002
45
ln the selection of means of transport, speed is an important consideration for goods that are
A.
bulky
B.
durable
C.
fragile
D.
inferior
E.
perishable
View Answer & Discuss
NECO 2002
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