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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
Factors influencing choice of occupation
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Trade Associations and Economic Groups
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Trade - Home Trade
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Balance of trade/payment, terms of trade
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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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96
An agreement whereby the seller transfers the title to goods at a price is called?
A.
contract of sale
B.
a hire-purchase agreement
C.
an agency agreement
D.
a contract of carriage of goods
E.
haggling
View Answer & Discuss
WAEC 1991
97
The reward of land as a factor of production is known as?
A.
interest
B.
rent
C.
profit
D.
wages
E.
toll
View Answer & Discuss
WAEC 1991
98
The reward of land as a factor of production is known as?
A.
interest
B.
rent
C.
profit
D.
wages
E.
toll
View Answer & Discuss
WAEC 1991
99
The outright purchase of one company by another is called?
A.
absorption
B.
merger
C.
cartel
D.
acquisition
E.
privatization
View Answer & Discuss
WAEC 1991
100
The form of advertising which aims at wining the market for one particular brand is known as?
A.
informative advertisement
B.
generic advertisement
C.
persuasive advertisement
D.
competitive advertisement
E.
direct advertisement
View Answer & Discuss
WAEC 1991
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