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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
Factors of production, characteristics & rewards
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
Characteristics, formation, advantages and disadvantages
Business mergers
Choice of business units
Dissolution and liquidation
Business Capital and Finance
Meaning and types of capital
Working capital, profit and turnover calculations
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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Finance and Financial Institutions
Money
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Credit unions and thrift societies
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Meaning, importance and functions
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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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2016
A speculator who applies for new stocks and shares with the intention of selling them them at higher price is a
A.
bull
B.
stag
C.
bear
D.
jobber
E.
broker
View Answer & Discuss
WAEC 1998
2017
The Third Party Motor Vehicle Insurance Policy covers damages
A.
to both passengers and vehicle
B.
caused by the vehicle insured
C.
to all parties concerned
D.
to all vehicles involved
E.
to the insured vehicle only
View Answer & Discuss
WAEC 1998
2018
Which of the following is not a method of selling
A.
Self-services
B.
Exhibition
C.
Mail Order
D.
Stock control
E.
Automatic vending
View Answer & Discuss
WAEC 1998
2019
Price lists, catalogues and COD are mainly used in operating
A.
chain stores
B.
supermarkets
C.
department stores
D.
mail order business
E.
hypermarkets
View Answer & Discuss
WAEC 1998
2020
The time allowed for unloading and loading ships is referred to as
A.
days of grace
B.
charter by demise
C.
voyage charter
D.
time charter
E.
lay days
View Answer & Discuss
WAEC 1998
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