Commerce 2001 Neco Past Questions and Answers

Question 36 :

• NECO 2001

What is NOT a suitable reason for the growth in large retail business?

A. Distribution of wealth through expansion of retail outlets because there is great profit
B. Improved transportation system which makes people able to move about easily to buy goods
C. Low cost per unit of goods resulting from economics of large scale
D. People’s willingness to migrate from rural areas to towns for white collar jobs
E. Rise in standards of living of people resulting from improved wages/salaries

Question 37 :

• NECO 2001

Under what form of life insurance policy is premium paid over an agreed number of years and the sum assured is paid either at the end of that specified time or when the policy holder dies, whichever comes first?

A. Annuity
B. Deterred annuity
C. Endowment
D. Term
E. Whole life

Question 38 :

• NECO 2001

What is the disadvantage of foreign trade?

A. Encourages dumping
B. Encourages specialization
C. Facilitate transfer of technology
D. Makes available products that can not be produced by a country
E. Widens the world market

Question 39 :

• NECO 2001

Which is NOT a public corporation?

A. National Electric Power Authority
B. National Examinations Council
C. Nigerian Airways
D. Nigerian Railway
E. Ports Authority

Question 40 :

• NECO 2001

National income is

A. Excess on balance of payment
B. Excess on balance of trade
C. Income gotten from international trade
D. Money value of goods and services produced in a given period
E. Revenue available to the government