Price - 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 1998

Product X was introduced into the market at N4.00 with its cost of product at N3.90 while competing products are at N4.50. What pricing policy are producers of X adopting?

A. Market skimming
B. Market penetration
C. Product live promotion
D. Above the market pricing

Question 3:

• JAMB 2002

In product pricing, which of this element needs more consideration than others?

A. The demand for the product
B. The demography of the buyers of the product
C. The economic conditions in the markkets
D. The cost of producing the product

Question 4:

• JAMB 2013

Which of the following is used as a pricing policy?

A. Packaging
B. Market selection
C. Labelling
D. Market skimming

Question 5:

• JAMB 2014

Which of the following is used as pricing policy?

A. Labelling
B. Packaging
C. Market selection
D. Market skimming