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Commerce
WAEC 1991
Commerce 1991 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
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Role of Bureau de Change
Trade Associations and Economic Groups
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Trade - Home Trade
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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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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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51
A merchant wholesaler is one who?
A.
takes title to the goods he sells
B.
does not own the goods he sells
C.
earns a commision for serving as an agent
D.
sometimes makes retail sales
E.
engages in merchandizing
View Answer & Discuss
WAEC 1991
52
A trade deficit means that?
A.
the balance of trade is favourable
B.
exports are less than imports
C.
imports are less than export
D.
exports are decreasing
E.
the balance of payments is unfavourable
View Answer & Discuss (1)
WAEC 1991
53
A document issued by the government authorizing a person to take goods out of the country for sale abroad is known as?
A.
export licence
B.
import licence
C.
dock warrant
D.
bill of lading
E.
consular invoice
View Answer & Discuss
WAEC 1991
54
The naria is legal tender because it is?
A.
recongnizable
B.
backed by law
C.
generally acceptable
D.
homogeneous
E.
portable
View Answer & Discuss
WAEC 1991
55
Which of the following enhances the leading powers of commercial banks?
A.
High bank rate
B.
Increased cash reserve ratio
C.
Provision for bad and doubtful debts
D.
Decreased liquidity ratio
E.
Increased Capital base
View Answer & Discuss
WAEC 1991
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