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[ Post UTME Begins ]:
View The List Of Schools That Have Released 2026 Post-UTME Forms.
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Commerce 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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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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Choice of business units
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Business Capital and Finance
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Sources of finance
Problems of sourcing finance
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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Meaning, importance and functions
Marketing concept and mix
Market segmentation
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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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1956
The speculator in the stock exchange market who sells securities in anticipation of a fall in price is called a
A.
bull
B.
jobber
C.
bear
D.
stag
E.
broker
View Answer & Discuss
WAEC 1998
1957
An action taken by a seller to avoid risks from unforeseeable price fluctuation is known as
A.
tendering
B.
aunctioneering
C.
quotation
D.
hedging
E.
haggling
View Answer & Discuss
WAEC 1998
1958
The insurance policy against claims from customers who might be injured within the business premises is called
A.
life assurance policy
B.
endowment policy
C.
fidelity guarantee insurance
D.
employers liability insurance
E.
engineering insurance
View Answer & Discuss
WAEC 1998
1959
An offer of new shares made to existing shareholders at a preferential price is called?
A.
bonus issue
B.
rights issue
C.
private placing
D.
debenture
E.
preference share
View Answer & Discuss
WAEC 1998
1960
A trader started business with #30,000 and spent #20,000 in buying premises and equipment, the balance of #10,000 is his
A.
authorised capital
B.
fixed capital
C.
working capital
D.
capital owned
E.
called-up capital
View Answer & Discuss
WAEC 1998
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