Neco Commerce 2004 Past Questions and Answers

Question 26:

• NECO 2004

An industry whose major actors consists of those engaged in sourcing raw materials from the earth surface is known as _____________ industry.

A. Commercial
B. Construction
C. Extractive
D. Manufacturing
E. Mining

Question 27:

• NECO 2004

Credit in business transaction is a _____________

A. Compliment to a good customer
B. Form of loan
C. Means of saving money
D. Prepayment by customers
E. Rebate for large purchases

Question 28:

• NECO 2004

In international trade, _____________ is used to show the exact country where the goods are imported.

A. Bill of lading
B. Certificate of origin
C. Consular invoice
D. Dock receipt
E. Shipping note

Question 29:

• NECO 2004

The creative management function which promotes trade and employment by assessing consumer needs and initiating research and development to meet them is known as _____________

A. Advertising
B. Distributing
C. Marketing
D. Planning
E. Trading

Question 30:

• NECO 2004

Trade may be defined as _____________

A. Buying and selling of goods
B. Buying and selling of goods and services
C. Distribution goods
D. Production of goods
E. Selling of goods and services