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Commerce
WAEC 1998
Commerce 1998 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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Role of Bureau de Change
Trade Associations and Economic Groups
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Trade - Home Trade
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Channels of distribution
Trade - Foreign Trade
Balance of trade/payment, terms of trade
Export, import and entrepôt procedures and documents
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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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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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96
Which of the following is legally used by the insured while the policy is being processed?
A.
Cover note
B.
Proposal form
C.
Indemnity form
D.
Premium
E.
Claim Form
View Answer & Discuss
WAEC 1998
97
Which of the following guarantees payment on presentation?
A.
Certified cheque
B.
Crossed cheque
C.
Order cheque
D.
Bearer cheque
E.
Open cheque
View Answer & Discuss (1)
WAEC 1998
98
One advantage of direct selling is
A.
low cost
B.
immediate feedback
C.
mass appeal
D.
self-service
E.
speedy market coverage
View Answer & Discuss
WAEC 1998
99
Which of the following is not a business resource?
A.
Market
B.
Man
C.
Money
D.
Machine
E.
Materials
View Answer & Discuss (1)
WAEC 1998
100
Penalty imposed by a ship owner for exceeding the period charter is
A.
lump sum
B.
dock dues
C.
tariff
D.
demurrage
E.
dead frieght
View Answer & Discuss
WAEC 1998
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