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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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Meaning and objectives of business
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Trade Associations and Economic Groups
Trade and manufacturer associations
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Economic groups: ECOWAS, IMF, IBRD, UNCTAD, etc.
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
Documents: Enquiry, quotation, invoice, bill of lading, etc.
Terms of trade: Discounts, C.O.D., C.I.F., F.O.B.
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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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26
Which of the following services is not rendered by commercial banks?
A.
Business advice
B.
Currency notes issue
C.
Accepting deposits
D.
Credit transfer
View Answer & Discuss
WAEC 2000
27
A retirement insurance policy which enables the assured to receive income for a specific period is?
A.
annuity
B.
endowment
C.
whole life
D.
fidelity guarantee
View Answer & Discuss
WAEC 2000
28
When an insurance company indemnifies the insured and takes over his rights, this is known as?
A.
abandonment
B.
subrogation
C.
proximate cause
D.
contribution
View Answer & Discuss
WAEC 2000
29
When an insurance company indemnifies the insured and takes over his rights, this is known as?
A.
abandonment
B.
subrogation
C.
proximate cause
D.
contribution
View Answer & Discuss
WAEC 2000
30
In a public Limited Liability Companies, equities are referred to as?
A.
preference shares
B.
authorized capital
C.
ordinary shares
D.
called-up capital
View Answer & Discuss
WAEC 2000
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