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Commerce
WAEC 2000
Commerce 2000 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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Business Capital and Finance
Meaning and types of capital
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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
Public relations, customer service
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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
The production of good in anticipation of demand is possible because of the existence of?
A.
packaging
B.
advertising
C.
warehousing
D.
branding
View Answer & Discuss
WAEC 2000
17
Which of the following is sent in reply to a letter of enquiry?
A.
Quotation
B.
Order
C.
Consumer invoice
D.
Advice note
View Answer & Discuss (1)
WAEC 2000
18
The abbreviation phrase E & OE is usually printed on?
A.
an invoice
B.
a cheque
C.
a delivery note
D.
a debit note
View Answer & Discuss
WAEC 2000
19
Which of the following refers to a price reduction based on the size of order?
A.
Cash account
B.
Trader discount
C.
Seasonal discount
D.
Cash on discount
View Answer & Discuss
WAEC 2000
20
Which of the following is not a means of payment in foreign trade?
A.
Telegraphic money order
B.
Specially crossed cheque
C.
Letters of credit
D.
Debit transfer
View Answer & Discuss (1)
WAEC 2000
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