Purchase and Sale of Goods - 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

Which of the following statements is TRUE about sea transport?

A. All ships have specific routes to ply
B. All ships must be insured at every journey
C. All ships are insured separately from the crew
D. All ships normally arrive at their destination with goods

Question 3:

• JAMB 1994

The postal organization which preceded the Nigerian Postal Service is

A. Post and Telecommunication
B. Post and Telephone
C. Post and Teleprinter
D. Post and Telegraph

Question 4:

• JAMB 1994

Which of the following items has the shortest effect on the consumer

A. Fashion
B. Innovation
C. Fad
D. Attribute

Question 5:

• JAMB 2019

A terms of payment in which the buyer pays cash immediately for goods bought before he takes them away is called____

A. Prompt cash
B. Cash on delivery
C. Spot cash
D. Cash with order