Jamb Commerce 2018 Past Questions and Answers

Question 6:

• JAMB 2018

Trade fairs in Nigeria are organized by

A. Ministry of commerce and industry
B. Chambers of commerce
C. The federal Government
D. Manufacturer’s Association of Nigeria

Question 7:

• JAMB 2018

Privatization is

A. Transfer of ownership from individual to government
B. Transfer of ownership from government to stakeholders
C. Transfer of ownership from government to individuals
D. Government taking charge of all businesses

Question 8:

• JAMB 2018

In the law of contact, a counter offer operates as

A. A contact
B. An acceptance
C. A rejection
D. A rejection

Question 9:

• JAMB 2018

What is a Quota?

A. Tax pad on goods produced within a country
B. A physical restriction placed on quantity of goods that can be imported
C. Tax paid on goods produced outside a country
D. Ban on all imported goods

Question 10:

• JAMB 2018

Which of the following functions is not performed by warehousing?

A. Stabilization of price
B. Production ahead of demand
C. Creating scarcity of goods
D. Storage of goods