Jamb Commerce Past Questions and Answers

Question 11:

• JAMB 1994

Sole enterprise may flourish best in

A. a mining business
B. a retailing business
C. an oil exploration business
D. A car assembly business

Question 12:

• JAMB 1994

The use of coin-operated machines to sell goods is a form of

A. personal selling
B. retailing
C. Wholesaling
D. Mail-order selling

Question 13:

• JAMB 1994

What is the major function of the wholesaler?

A. Buying from small-scale producers and selling to exporters
B. Buying in bulk and selling in small quantities
C. granting of credit facilities to retailers
D. Providing information to manufacturers on market situation

Question 14:

• JAMB 1994

The rate at which a country's exports exchange for its imports is called

A. Balance of payments
B. Balance of trade
C. terms of payment
D. Terms of trade

Question 15:

• JAMB 1994

The difference between the total payments for imports and the receipts from exports within a given period is referred to as

A. Balance of payments
B. Balance of trade
C. comparative cost advantage
D. Comparative advantage