QUESTIONS ON PREVIOUSLY TREATED TOPICS

Hey Guyz, Happy Mid-week. This post is coming late cos of some issues but it is here now and that is what matters. Hope last week was a blast for you cos it was amazing for me. To God Alone be All the Glory, Jesus is Lord. We are treating questions on all the Topics we have treated just to warm us up and warm up our memory, and to really determine our understanding level of those Topics, lolz. So let's get Started.

1. Which of the following is not true of Commerce?

a. It is part of production

b. It is the life blood of a nation's economic activities

c. Commercial Activities begin after the goods are produced

d. It has nothing to do with goods and services (WAEC 1994).

2. Which of the following is not a Factor of Production?

a. Profit

b. Entrepreneur

c. Capital

d. Land (WAEC 1994).

3. Which of the following is an example of a commercial occupation?

a. Tailoring

b. Chatting

c. Welding

d. Brick Laying (WAEC 1994).

4. Commerce is not concerned with?

a. Changing the place of a product

b. changing the form of a product

c. changing ownership of a product

d. distribution of a product (WAEC 1994).

5. Which of the following is not a branch of Commerce?

a. Trade

b. Transport

c. Production

d. Warehousing (WAEC 1994).

6. Which of the following widens the market for goods?

a. Warehousing

b. Insurance

c. Transport

d. Packaging (WAEC 1994).

7. Which of the following enables Production to take place ahead of Demand?

a. Importing

b. Exporting

c. Advertising

d. Warehousing (WAEC 1995).

8. All Activities involved in the distribution and exchange of goods and services are referred to as?

a. Commerce

b. Market Survey

c. Sales Promotion

d. Advertising (WAEC 1995).

9. Land as a Factor of Production comprises?

a. All Resources provided by Nature

b. The Earth Surface Only

c. Efforts to exploit the Earth

d. The Oceans and River Only (WAEC 1995).

10. Goods are usually Classified into?

a. Salable and Non-Salable Goods

b. Home-Made and Foreign-Made Goods

c. Luxurious and Essential Goods

d. Producer and Consumer Goods (WAEC 1995).

NOTE: ALL THE QUESTIONS IN THIS POST ARE CREDITED TO WEST AFRICA EXAM COUNCIL 1994 AND 1995 PAPERS. SOME ANSWERS WERE HOWEVER ALTERED TO SUIT THE PURPOSE OF THIS POST. THANKS

This brings us to the end of today's session. Hope this was very helpful to you, leave a comment of what you think of this tutorial and of your questions below. Have a Blessed Day and Remember You are Amazing. God Bless.