Jamb Commerce 2003 Past Questions and Answers

Question 26:

• JAMB 2003

The business organization established mainly for the purpose of carrying out specific assignments for a specific duration is a?

A. Joint venture
B. Cooperative society
C. Partnership
D. Company

Question 27:

• JAMB 2003

Which oft these factors of production is relatively fixed in supply?

A. Capital
B. Enterpreneuer
C. Human resources
D. Natural resources

Question 28:

• JAMB 2003

The location of a business is mostly influenced by?

A. Market outlet
B. Management decision
C. Capital
D. Environment

Question 29:

• JAMB 2003

The evolution of commerce in Nigeria is traceable to the?

A. Period of barter economy as human needs became limitless
B. Desire by human beings to satify their needs through the services of other people inthe society
C. Development of human civlizations and the desire to meet their needs
D. Primitive stage of existence of human beings

Question 30:

• JAMB 2003

One of the requirements necessary for setting up a business is?

A. Registration
B. Advertisement
C. Knowledge of the business
D. Documentation