Jamb Commerce Past Questions and Answers

Question 1521:

• JAMB 2022

The service of a retailer is part of production because it

A. Creates a link between consumers and producers
B. Enables finished goods to reach consumers
C. Increases consumers standard of living
D. Is a commercial occupation

Question 1522:

• JAMB 2022

The resources put together to create goods and services are

A. Working capital
B. Producer goods
C. Factors of production
D. Consumer goods

Question 1523:

• JAMB 2022

Which of the following organizations provide essential goods and services at low cost to citizens?

A. Thrift societies
B. Public enterprises
C. Private companies
D. Cooperative societies

Question 1524:

• JAMB 2022

A group of sellers who pool their resources to buy goods in large quantities and sell to its members is a

A. Wholesaler cooperative society
B. Thrift and credit society
C. Consumer cooperative society
D. Chamber of commerce

Question 1525:

• JAMB 2022

Average stock is derived by adding

A. Closing stock to purchase divided by 2
B. Closing stock to opening stock
C. Opening stock to closing stock divided by 2
D. Opening stock to purchases