JAMB Commerce Questions and Answers

JAMB Commerce Questions and Answers

Are you planning to take the Joint Admissions and Matriculation Board (JAMB) exam and want to know what to expect in the Commerce section? If so, you’re in the right place.

In this article, we’ll cover everything you need to know about JAMB Commerce questions and answers, including:

• What are the most common JAMB Commerce questions?

• How to prepare for JAMB Commerce questions?

• Where to find JAMB Commerce past questions and answers?

• How to answer JAMB Commerce questions correctly?

What are the most common JAMB Commerce questions?

The most common JAMB Commerce questions are those that test your knowledge of basic commerce concepts, such as:

• The different types of businesses
• The functions of marketing
• The principles of accounting
• The elements of economics

In addition to these basic concepts, JAMB also tests your knowledge of current affairs in the world of commerce. For example, you might be asked about the latest trends in e-commerce or the impact of globalization on businesses.

How to prepare for JAMB Commerce questions?

The best way to prepare for JAMB Commerce questions is to study the syllabus and practice with past questions. You can find the syllabus for the Commerce section of JAMB on the JAMB website.

There are also many resources available online and in libraries that can help you prepare for JAMB Commerce questions. These resources include:

• Past questions and answers
• Practice tests
• Study guides
• Tutorials

Where to find JAMB Commerce past questions and answers?

There are a number of places where you can find JAMB Commerce past questions and answers. One good source is the JAMB website. The JAMB website has a section where you can download past questions and answers for all of the subjects that are tested on the JAMB exam.

Another good source for JAMB Commerce past questions and answers is the National Library of Nigeria. The National Library of Nigeria has a large collection of past questions and answers for all of the subjects that are tested on the JAMB exam.

How to answer JAMB Commerce questions correctly?

To answer JAMB Commerce questions correctly, you need to understand the concepts that are being tested and be able to apply them to real-world situations. You also need to be able to read and understand the questions carefully.

Here are some tips for answering JAMB Commerce questions correctly:

• Read the question carefully and make sure you understand what it is asking.

• Identify the key concepts that are being tested.

• Apply the concepts to a real-world situation.

• Use your knowledge of current affairs to answer the question.

Check your answer carefully before submitting it.

Jamb Commerce Questions And Answers 2023/2024

1. The most important factor that delayed the development of commerce in Nigeria was
A. the inefficient means of communication
B. that there were few entrepreneurs
C. the unavailability of infrastructural facilities
D. that there were few developed markets

2. Secondary production has to do with changing the
A. shape of raw materials through construction operation
B. physical form of raw materials into finished goods
C. utility of raw material by engineering process
D. nature of raw materials through manufacturing

3. The major responsibility of an entrepreneur is
A. employing all factors of production in the business
B. coordinating and determining the proportion of what to produce
C. planning and organizing all activities in the business
D. directing and controlling all the affairs of the business

4. Which of the following best describe the scope of commerce?
A. All forms of commercial exchanges and the manufacturing industry
B. buying and selling and the construction industry
C. all occupational exchanges relating to industries and commercial activities
D. buying and selling as well as the extraction of natural resources.

5. Capital as a factor of production can be used as
A. money that is regarded as asset
B. goods that is useful in business
C. input for further production
D. service that provide satisfaction

6. The agency that currently oversee the privatization and commercialization processes in Nigeria is the
A. securities and exchange commission
B. technical committee on privatization and commercialization
C. Nigeria stock exchange
D. bureau of public enterprises

7. Okeze contracted to sell TV sets to Ojo, unknown to them, the sets were stolen in transit. This contract my be terminated on the grounds of
A. bankruptcy
B. frustration
C. fraudulence
D. breach of contract

8. Which of the following countries are member of the lake Chad Basin Commission?
A. Nigeria
B. Benin and Nigeria
C. Chad and Benin
D. Niger and cameroon

9. A core investor in the current phase of privatization in Nigeria is one who
A. can afford to buy most of the shares of the enterprises
B. will be at the core of the enterprises
C. can mobilize foreign currency equivalent to the value of the enterprises
D. has the technical know-how of the enterprises.

10. The agency in Nigeria which ensure that products conform to government quality specification is the
A. standard organization of Nigeria
B. Nigeria consumer’s association
C. manufactures association of Nigeria
D. Nigeria chamber of commerce

11. An example of service rendering trade association is
A. Nigerian Bar Association
B. Association of Nigerian Miners
C. Cocoa Farmers Association
D. Manufacturers Association of Nigerian

12. The commercialization of public enterprises is aimed at
A. increasing efficiency and making the enterprises self-sufficient
B. advertising and promoting the goods and services of the enterprise
C. increased assistance and patronage of the enterprises by the public
D. selling the goods and services of the enterprises

13. An author is exclusive right to his published and unpublished works is known as
A. authors right
B. constitutional right
C. patent right
D. copyright

14. Under an endowment policy, the money handed over to the insured at the expiration of the stipulated time or at death is the
A. indemnity
B. surrender value
C. lump sum benefit
D. insurance premium

15. The machine used for sending telex message is known as a
A. radar
B. fax machine
C. Dictaphone
D. teleprinter

16. Which of these insurance principles requires a close connection between the actual loss suffered and the risk insured?
A. Indemnity
B. proximate cause
C. contribution
D. subrogation

17. The unit through which the results of a processed data are displayed is the
A. logic unit
B. display unit
C. control unit
D. output unit

18. Which of the following is used to inform the addressee that a registered parcel is ready for collection?
A. Express label
B. counterfoil
C. telegram
D. Slip

19. The type of computer commonly found in offices is
A. laptop
B. desktop
C. the hybrid computer
D. the main frame computer

20. The mode of transporting crude oil to the ports for export purposes is by
A. tanker B. rail C. road D. pipeline

21. The temporary insurance certificate issued to the insured before drawing up a policy is a
A. cover note
B. testimonial
C. time policy
D. proposal form

22. The bulls and bears in the Stock Exchange market help to minimize
A. the number of shares and bonds sold
B. price increases of securities
C. fluctuations in the prices of securities
D. the elasticity of the prices of securities

23. Debentures differ from shares in that
A. they are secured on the company’s assets
B. ownership is open to the public
C. they form part of the capital of the business
D. rewards are usually paid out of profit.

24. The Stock Exchange is a market where
A. long-term securities are sold
B. all types of securities are sold
C. short term securities are sold
D. medium-term securities are sold

25. A retail cooperative society aims at
A. hoarding manufactured goods
B. cutting off the profits of middlemen
C. lending money to member at low interests
D. encouraging members to save money

Conclusion

By following these tips, you can increase your chances of answering JAMB Commerce questions correctly and achieving your desired score on the exam.