Evolution of money - 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 1995

which of the following sets of items was used for exchange in Nigeria before money was introduced?

A. Cowries, iron rods, brass rods and copper rods
B. Iron rods, copper rods, manilla and cowries
C. Cowries, manilla, brass rod andcopper wires
D. Copper wires, brass wires, cowries and iron rod

Question 3:

• JAMB 2018

A form of money that has gone out of use is ?

A. Commodity money
B. Bank money
C. Paper money
D. Foreign money