Forms and qualities of money - Jamb Commerce Past Questions and Answers

Question 1:

• JAMB 1994

Commerce is defined as the study of how

A. Man utilizes the resources in his physical environment
B. Man produces, distributes and consumes his goods and services
C. Man buys, sells and distributes goods and services
D. Raw materials are changed into finished goods

Question 2:

• JAMB 2019

The following development of money have therefore been the use of, except______

A. Coins
B. Inconvertible paper money
C. Commodities
D. Abacus

Question 3:

• JAMB 2000

A form of money that has gone out of use is?

A. Paper money
B. Bank money
C. Commodity money
D. Foreign money

Question 4:

• JAMB 2003

Money can simply be referred to as a?

A. Medium of exchange
B. Means for the settlement of debts
C. Durable assets for doing business
D. Standard of value

Question 5:

• JAMB 2007

The function of money that facilitates the comparison of the quality of goods as a basis of exchange is the?

A. Unit of account
B. Measure of value
C. Store of value
D. Medium of exchange