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Commerce
WAEC 1994
Commerce 1994 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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Meaning and objectives of business
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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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Balance of trade/payment, terms of trade
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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.
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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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56
The giving of clear instructions and information to all concerned in an organisation to ensure proper understanding of decisions and policies?
A.
organising
B.
planning
C.
communicating
D.
directing
E.
coordinating
View Answer & Discuss
WAEC 1994
57
Commerce is not concerned with?
A.
changing the place ofa product
B.
changing the form ofa product
C.
changing ownership of a product
D.
distribution of a product
E.
warehousing of a product
View Answer & Discuss
WAEC 1994
58
An alternative term for ordinary shares is?
A.
unit trust
B.
gilt-edged securities
C.
equities
D.
bonus issues
E.
right issues
View Answer & Discuss
WAEC 1994
59
The retail of goods through currency operated machines is known as?
A.
mail order business
B.
automatic vending
C.
party selling
D.
impulse buying
E.
merchandising
View Answer & Discuss
WAEC 1994
60
Any paid form of non-personal presentation of ideas, goods or services by an identified sponsor is known as?
A.
market research
B.
market orientation
C.
open market operation
D.
advertising
E.
sales promotion
View Answer & Discuss
WAEC 1994
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