Determination of choice of business units - 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

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 3:

• JAMB 2019

The basic characteristics of co-operative society include all except one

A. It is managed democratically
B. It follows the principle of one man
C. Amateur Management
D. Extra capital is raised through loan