2012 - JAMB Commerce Past Questions & Answers - page 1

1
One of the major benefits of commerce to government is to
A
improve the standard of living
B
generate revenue for growth and development
C
encourage cooperation among public organisations
D
encourage the development of socio-cultural values
CORRECT OPTION: b
2
An example of an activity in the construction industry is
A
blacksmithing
B
bricklaying
C
car assembling
D
shoemaking
CORRECT OPTION: c
3
One of the inputs in production that can be motivated by remuneration is
A
capital
B
enterpreneur
C
labour
D
land
CORRECT OPTION: c
4
The allocation of tasks to different skills in a production process is referred to as
A
production technique
B
production function
C
division of labour
D
delegation of responsibility
CORRECT OPTION: c
5
The sales of goods through a medium that accepts money and delivers the items to the customer is
A
an automated teller machine
B
a vending machiine
C
a counting machine
D
a branding machine
CORRECT OPTION: b
6
The main purpose of branding is to
A
create identity for a product
B
make a product look attractive
C
create product awareness
D
increase sales volume
CORRECT OPTION: a
7
The basis for international trade is embedded in the principle of
A
absolute advantage
B
globalization
C
deregulation
D
comparative advantage
CORRECT OPTION: d
8
The major problem encountered in international trade is that of
A
distance
B
differences in culture
C
politics
D
differences in currency
CORRECT OPTION: d
9
The document a seller uses in dispatching goods to a customer by a carrier is
A
a bill of landing
B
an invoice
C
an advice note
D
a delivery note
CORRECT OPTION: d
10
A document which serves as an order with details of goods required by an intending purchaser is
A
a freight note
B
an indent
C
a bill of landing
D
a way bill
CORRECT OPTION: b
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