2023 - JAMB Commerce Past Questions and Answers - page 6

51

The type of activity which turns processed raw materials into consumer and industrial goods is described as

A
extractive
B
processing
C
constructive
D
manufacturing
correct option: d
Manufacturing is the activity that turns processed raw materials into consumer and industrial goods. It involves using machinery, labor, and technology to produce finished products from raw materials.
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52

Which of the following regulates and controls the activities in the Nigerian Stock Exchange?

A
CBN
B
BPE
C
SEC
D
NDIC
correct option: c
The Securities and Exchange Commission (SEC) is responsible for regulating and controlling the activities in the Nigerian Stock Exchange, ensuring fair trading practices and protecting investor interests.
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53

The function of commerce in relation to production is

A
helping in the extraction of raw materials from nature
B
yielding result
C
providing a link between the different stage of conversion of good
D
satisfying
correct option: c
The function of commerce in relation to production is providing a link between the different stages of conversion of goods. Commerce facilitates the movement of goods from producers to consumers through various distribution channels.
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54

Which is the fastes means of transportation?

A
road
B
air
C
rail
D
water
correct option: b
Air transportation is the fastest means of transportation, allowing for rapid movement of goods and people over long distances in a short amount of time.
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55

The document that explains the types of shares available for sale to the public is

A
a prospectus
B
an invoice
C
closed indent
D
an open indent
correct option: a
A prospectus is a document that explains the types of shares available for sale to the public, providing potential investors with information about the company, its finances, and its future plans.
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56

A major objective of all business resources is

A
human relation
B
profit making
C
public relation
D
profit sharing
correct option: b
A major objective of all business resources is profit-making. Businesses utilize their resources with the aim of generating profits through their operations and activities.
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57

Risk bearing in business organisation is a function of the

A
manager
B
employee
C
entrepreneur
D
customers
correct option: c
Risk bearing in a business organization is a function of the entrepreneur. Entrepreneurs take on the risks associated with starting and running a business, including financial, market, and operational risks.
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58

An advantage of division of labour is

A
productivity and total output is increased
B
monopoly od task is eliminated
C
interdependence of workers increase remuneration
D
loss of individual craftmanship is minimized
correct option: a
An advantage of division of labor is that productivity and total output are increased. By specializing in specific tasks, workers can become more efficient, leading to higher production rates.
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59

One disadvantages of advertising is that it

A
could be misleading
B
decreases sales
C
reduces profit
D
causes over stocking
correct option: a
One disadvantage of advertising is that it could be misleading. Some advertisements may exaggerate the benefits of a product or fail to disclose potential drawbacks, leading consumers to make uninformed decisions.
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60

A factor necessary for siting of a warehouse is nearness to

A
labour
B
consumers
C
capital
D
raw materials
correct option: b
A factor necessary for siting a warehouse is nearness to consumers. Being close to the consumer base can reduce transportation costs and delivery times, making the distribution process more efficient.
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