2023 - JAMB Commerce Past Questions and Answers - page 7
61
The part of the computer that has the capacity to interpret instruction is
A
central processing unit
B
universal power storage
C
monitor
D
keyboard
correct option: a
The Central Processing Unit (CPU) is the part of the computer responsible for interpreting and executing instructions from the computer's hardware and software. It is often referred to as the 'brain' of the computer.
Users' Answers & Comments62
The stock exchange is a market where
A
short-term securities are sold
B
medium term securities are sold
C
all types of securities are sold
D
long term securities are sold
correct option: c
The stock exchange is a market where all types of securities, including short-term, medium-term, and long-term securities, are bought and sold.
Users' Answers & Comments63
The organised effort of consumers to protect themselves against the unfair practices of businessmen is known as
A
picketing
B
stroke
C
consumerism
D
demonstration
correct option: c
Consumerism is the organized effort of consumers to protect themselves against unfair practices by businessmen. It involves advocacy for consumer rights and protection.
Users' Answers & Comments64
An announcement of a person\'s willingness to enter into a contract is referred to as
A
an acceptance
B
a proxy
C
consideration
D
an offer
correct option: d
An offer is an announcement of a person's willingness to enter into a contract, specifying the terms under which they are prepared to make a contract.
Users' Answers & Comments65
The effects of devaluation includes all except
A
expansion of local industries
B
increase in import
C
increase in standard of living
D
exports become cheaper
correct option: c
An increase in the standard of living is not a typical effect of devaluation. Devaluation often leads to an expansion of local industries, makes exports cheaper, and may increase the cost of imports, which can decrease the standard of living.
Users' Answers & Comments66
The government agency involved in issuing of export licences is
A
Nigeria Port Authority
B
Customs and Excise Authority
C
Nigeria Export Promotion Council
D
Nigeria Export Processing Zone
correct option: c
The Nigeria Export Promotion Council is the government agency involved in the issuance of export licenses, promoting and facilitating the export of goods from Nigeria.
Users' Answers & Comments67
A major merit of the retaining middlemen is to
A
regulate price for manufacturers
B
stock perishable goods
C
pay cash to the bank for manufacturers
D
stock goods produced by different manufacturer
correct option: d
A major merit of retaining middlemen is their ability to stock goods produced by different manufacturers, providing variety and availability to consumers and facilitating efficient distribution.
Users' Answers & Comments68
The rate where a country\'s exports exchange for its imports is called
A
terms of trade
B
balance of trade
C
terms of payments
D
balance of payments
correct option: a
Terms of trade refer to the rate at which a country's exports exchange for its imports. It is an important indicator of a country's economic health and its ability to purchase imports.
Users' Answers & Comments69
A demerit of communication is that it
A
increase the cost of goods in transit
B
give room for distortion of fact
C
hinder quick reception of messages over a long distance
D
makes payment for goods cumbersome
correct option: b
A demerit of communication is that it can give room for distortion of facts, especially in cases of indirect or non-verbal communication, leading to misunderstandings and misinformation.
Users' Answers & Comments70
The fees charged on postal order by the post office is
A
premium
B
poundage
C
interest
D
brokerage
correct option: b
The fee charged on a postal order by the post office is known as 'poundage.' This fee covers the service of issuing the postal order and handling the transaction.
Users' Answers & Comments