2018 - JAMB Commerce Past Questions and Answers - page 1
1
The act of selling in a foreign market at a price lower than the cost price is called
A
Dumping
B
hedging
C
fair trading
D
under sale
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2
Current account holders withdraw money through
A
Credit card
B
Cheque
C
Transfer
D
Withdrawal form
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3
One of the major problems of a sole proprietor is sourcing for
A
Funds
B
Labour
C
Raw materials
D
Machineries
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4
Which of the following is a verbal means of communication
A
Telephone
B
Express mail
C
Business reply services
D
telex
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5
Trade fairs in Nigeria are organized by
A
Ministry of commerce and industry
B
Chambers of commerce
C
D. The federal Government
D
Manufacturer’s Association of Nigeria
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6
Privatization is
A
Transfer of ownership from individual to government
B
Transfer of ownership from government to stakeholders
C
Transfer of ownership from government to individuals
D
Government taking charge of all businesses
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7
In the law of contact, a counter offer operates as
A
A contact
B
an acceptance
C
a rejection
D
a rejection
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8
What is a Quota?
A
Tax pad on goods produced within a country
B
A physical restriction placed on quantity of goods that can be imported
C
Tax paid on goods produced outside a country
D
Ban on all imported goods
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9
Which of the following functions is not performed by warehousing?
A
Stabilization of price
B
production ahead of demand
C
creating scarcity of goods
D
storage of goods
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10
One of these is a current asset
A
Fittings
B
Machineries
C
Motor vehicles
D
stock
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