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Home
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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
Production
Meaning and types: Primary, secondary, tertiary
Factors of production, characteristics & rewards
Division of labour and specialization
Inter-relationship between production and exchange
Business Units
Meaning and objectives of business
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Choice of business units
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Meaning and types of capital
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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
Wholesale trade: Types, functions
Warehousing: Types, functions
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Trade - Foreign Trade
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.
Means and terms of payment
Aids to 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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21
Agents who link buyers with sellers receive?
A.
factorage
B.
brokerage
C.
bonus
D.
interest
E.
premium
View Answer & Discuss
WAEC 1994
22
Which of the following is not a feature of supermarkets?
A.
Standard shop fronts
B.
Self service
C.
Use of trolleys
D.
Small number of sales assistants
E.
Stocking mainly food items
View Answer & Discuss (2)
WAEC 1994
23
Which of the following is an objective of indigenisation? To
A.
increase foreign participation in business
B.
attract foreign Capital
C.
help Nigerian entrepreneurs become monopolists
D.
help citizens participate fully in the economy
E.
distribute income
View Answer & Discuss
WAEC 1994
24
In which of the following are the objectives of a company stated?
A.
Annual Report
B.
Articles of Association
C.
Certificate of Incorporation
D.
Certificate of Trading
E.
Memorandum of Association
View Answer & Discuss
WAEC 1994
25
The coming together of firms at different stages of the production process is known as?
A.
horizontal integration
B.
vertical integration
C.
consortium
D.
cartel
E.
holding company
View Answer & Discuss (1)
WAEC 1994
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