Jamb Commerce 2003 Past Questions and Answers

Question 11:

• JAMB 2003

The concept that refers to the sale, transfer or exchange of goods and service is?

A. Industry
B. Trade
C. Tariff
D. Marketing

Question 12:

• JAMB 2003

A guarantee given by one person or party to another in which the integrity of the person is assured is?

A. Fidelity
B. Term assurance
C. Subrogation
D. Indemnity

Question 13:

• JAMB 2003

A firm that adapts itself to delivering the desired satisfaction more effectively than its competitors is said to be practicing?

A. Price concept
B. Distribution concept
C. Product concept
D. Markting concept

Question 14:

• JAMB 2003

The payment made periodically in respect of an insurance policy entered into is known as?

A. Bond
B. Commission
C. Premium
D. Surrender value

Question 15:

• JAMB 2003

An example of service rendered by NIPOST is?

A. Electronic mail
B. Couier
C. Telephone
D. Mail delivery