Commerce 2003 Neco Past Questions and Answers

Question 1 :

• NECO 2003

The agreement between an exporter and a ship owner to convey goods is known as ____________

A. Charter party
B. Dock warrant
C. Marine policy
D. Shipping conference
E. Ships manifest

Question 2 :

• NECO 2003

Who among the following is the last link in the chain of distribution?

A. Consignor
B. Consumer
C. Producer
D. Retailer
E. Wholesaler

Question 3 :

• NECO 2003

The factor of production that combines others factors and bears the risks in production process is ____________

A. Capital
B. Entrepreneur
C. Land
D. Labour
E. Wages

Question 4 :

• NECO 2003

The reward for Labour as a factor of production is ____________

A. Interest
B. Premium
C. Profit
D. Rent
E. Wage

Question 5 :

• NECO 2003

____________ is a letter sent to the suppliers requesting details of goods offered for sale

A. An Invoice
B. Letter of enquiry
C. Purchase order
D. Requisition
E. Quotation