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Commerce
WAEC 1996
Commerce 1996 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
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Meaning and objectives of business
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Business Capital and Finance
Meaning and types of capital
Working capital, profit and turnover calculations
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Role of Bureau de Change
Trade Associations and Economic Groups
Trade and manufacturer associations
Chambers of Commerce
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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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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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76
In a business environment, which of the following variables can a business man conveniently control?
A.
Product
B.
Politics
C.
Culture
D.
Economy
E.
The laws
View Answer & Discuss
WAEC 1996
77
Which of the following is not a reason for imposing import duties? To
A.
improve balance of trade
B.
improve quality of goods for consumers
C.
obtain revenue
D.
protect infant industries
E.
prevent dumping
View Answer & Discuss
WAEC 1996
78
The face to face contact between sellers and buyers with the aim of selling a product is known as
A.
personal selling
B.
customer cordination
C.
promotion
D.
advertising
E.
public relation
View Answer & Discuss
WAEC 1996
79
Which of the following is the main tool of mass selling
A.
public relations
B.
personal selling
C.
Consumer research
D.
Customer orientation
E.
Advertising
View Answer & Discuss
WAEC 1996
80
The allowance given to a retailer to enable him make a profit is known as
A.
interest
B.
commission
C.
trade discount
D.
cash discount
E.
dividend
View Answer & Discuss
WAEC 1996
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