Legal, political, economic, social, cultural, technological environments - 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 1994

A demonstration of social responsibility by a business is the payment of

A. taxes to government
B. dividends to shareholders
C. interests on loans
D. premium on insurance

Question 3:

• JAMB 1994

Governments impose import duties for the following reasons EXCEPT

A. to raise revenue for other services
B. to act as a retaliatory measure against other governments
C. to discourage the redistribution of income at home
D. to protect .home industries from external competition

Question 4:

• JAMB 2019

A business environment that take into consideration the beliefs, attitudes, needs, values and attitudes of the people is_________

A. Economic environment
B. Technological environment
C. Political environment
D. Cultural environment

Question 5:

• JAMB 1999

Which of these sets of external environmental factors affects a business operation?

A. Competition, industry operation
B. Competition, labour and political
C. Political, cultural and labour
D. Economic, social and legal