2002 - JAMB Commerce Past Questions and Answers - page 1
1
The most important factor that delayed the development of commerce in Nigeria was?
A
A.the inefficient means of communication
B
that there were few entrepreneurs
C
that there were few developed markets
D
secondary production has to do with changing the?
correct option: c
Users' Answers & Comments2
Secondary production has to do with changing the?
A
shape of raw materials through construction operations
B
physical form of raw materials into finished goods
C
utility of raw materials by an engineering process
D
nature of raw materials through manufacturing processes
correct option: b
Users' Answers & Comments3
The major responsibility of an entrepreneur is?
A
Employing all factors of production in the business
B
coordinating and determining the proportion of what to produce
C
planning and organizing all activities in the business
D
directing and controlling all the affairs of the business
correct option: a
Users' Answers & Comments4
Which of the following best described the scope of commerce
A
All forms of commercial exchanges relating to industry
B
Buying and selling and the construction industry
C
All occupational exchanges relating to industries and commercial activities
D
Buying and selling as well as the extraction of natural resources
correct option: c
Users' Answers & Comments5
Capital as a factor of production can be used as?
A
Money that is regarded as assets
B
Goods that are useful in business
C
Input for further production
D
Services that provide satisfaction
correct option: c
Users' Answers & Comments6
The agency that currently oversees the privatization and
commercialization process in Nigeria is the?
commercialization process in Nigeria is the?
A
Securities and Exchange Commission
B
Technical Committee on privatization and commercialization
C
Nigeria Stock Exchange
D
Bureau of Republic Enterprises
correct option: d
Users' Answers & Comments7
Okeze contracted to sell TV sets to Ojo. Unknown to them, the sets were stolen in transit. This contract may be terminated on the ground of
A
bankruptcy
B
frustration
C
fraudulence
D
breach of contract
correct option: b
Users' Answers & Comments8
Which of the following countries are members of the lake Chad Basin Commission?
A
Niger and Cameroun
B
Benin and Nigeria
C
Chad and Benin
D
Nigeria and Mali
correct option: a
Users' Answers & Comments9
A core investor in the current phase of privatization in Nigeria is one who?
A
can afford to buy most of the shares of the enterprises
B
will be at the core of the enterprises
C
can mobilize foreign currency equivalent to the value of the enterprises
D
has the technical know-how of the enterprises
correct option: a
Users' Answers & Comments10
The agency in Nigeria which ensures that products conform to government quality specifications is the?
A
Standards Organization of Nigeria
B
Nigerian Consumers’ Association
C
Manufacturers’ Association of Nigeria
D
Nigerian Chamber of commerce
correct option: a
Users' Answers & Comments