Factors to be considered in setting up retail trade - 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 2002

which of the following is an determines the quality of goods and that a retailer sells?

A. The mode of contract of sales
B. The type of manufacturer
C. The regulations regarding sales in the area
D. The location of his shop

Question 3:

• JAMB 2017

Factors considered when setting up a retail business is one of the following _________

A. Capital, experience and trading
B. Experience, term of trade, and trading
C. Capital, trading and term of trade
D. Capital, type of goods and source of supply