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Home
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Commerce
WAEC 1990
Commerce 1990 WAEC 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
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Inter-relationship between production and exchange
Business Units
Meaning and objectives of business
Forms: Sole proprietorship, Partnership, Limited liability companies, Public enterprises, Cooperative societies
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Business mergers
Choice of business units
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Business Capital and Finance
Meaning and types of capital
Working capital, profit and turnover calculations
Sources of finance
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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
Money
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Credit unions and thrift societies
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Marketing
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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91
The major dealers on stock exchange market are the?
A.
authorized clerks
B.
jobbers
C.
investors
D.
brokers
E.
underwriters
View Answer & Discuss (2)
WAEC 1990
92
The selection and promotion of staff in an organization is the function of the?
A.
marketing department
B.
finance department
C.
personnel department
D.
production department
E.
public relations department
View Answer & Discuss
WAEC 1990
93
A trade document signed by a representative of the country to which goods are being sent is called?
A.
export invoice
B.
consignment note
C.
certificate of origin
D.
pro-forma invoice
E.
consular invoice
View Answer & Discuss
WAEC 1990
94
Which of the following is not an element of the marketing mix?
A.
Product
B.
Pricing
C.
Promotion
D.
Merchandising
E.
Distribution
View Answer & Discuss
WAEC 1990
95
Retail outlets which sell from specialized vans are?
A.
Super markets
B.
multiple shops
C.
mail order firms
D.
department stores
E.
mobile shops
View Answer & Discuss
WAEC 1990
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