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Commerce
WAEC 2000
Commerce 2000 WAEC Past Questions
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Question Type:
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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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Division of labour and specialization
Inter-relationship between production and exchange
Business Units
Meaning and objectives of business
Forms: Sole proprietorship, Partnership, Limited liability companies, Public enterprises, Cooperative societies
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Business mergers
Choice of business units
Dissolution and liquidation
Business Capital and Finance
Meaning and types of capital
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Sources of finance
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Role of Bureau de Change
Trade Associations and Economic Groups
Trade and manufacturer associations
Chambers of Commerce
Employers’, Consumers’ and Manufacturers’ associations
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
Banking
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Transportation
Communication
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Finance and Financial Institutions
Money
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Credit unions and thrift societies
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Marketing
Meaning, importance and functions
Marketing concept and mix
Market segmentation
Public relations, customer service
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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31
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
32
The method of sending message by the teleprinter?
A.
telephone
B.
cable gram
C.
telex
D.
railex
View Answer & Discuss
WAEC 2000
33
The information on terms of carriage of mails is mails is found in?
A.
Business journal
B.
post office gulde
C.
trade directory
D.
service manual
View Answer & Discuss
WAEC 2000
34
Rail transport is less flexible than road transport because?
A.
rail lines run between specific terminals
B.
train is slow over long distances
C.
only bulky goods are carried by rails
D.
road transport is suitable for short distands
View Answer & Discuss
WAEC 2000
35
Which of the following is used for moving only goods from one sea port to another?
A.
Ocean liner
B.
Cargo liner
C.
Ferry
D.
Coaster
View Answer & Discuss
WAEC 2000
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