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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
Business Units
Meaning and objectives of business
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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
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Credit unions and thrift societies
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Meaning, importance and functions
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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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16
Which of the following is applicable to foreign trade only?
A.
Pro forma invoice
B.
insurance policy
C.
Order
D.
Bill of exchange
E.
Consular invoice
View Answer & Discuss
WAEC 1996
17
The department that deals with internal grievances and maintenance of discipline in an organization is the
A.
accounts
B.
maintenance
C.
personnel
D.
public relations
E.
productions
View Answer & Discuss
WAEC 1996
18
Another name for consignment note is
A.
qoutation
B.
waybill
C.
debit note
D.
receipt
E.
credit note
View Answer & Discuss
WAEC 1996
19
Specialization is possible as a result of
A.
good roads
B.
education
C.
demand for goods
D.
growth in population
E.
exchange
View Answer & Discuss
WAEC 1996
20
Which of the following may serve as delivery note?
A.
Debit note
B.
Credit note
C.
Invoice
D.
Advice note
E.
Statement of account
View Answer & Discuss
WAEC 1996
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