Neco Commerce 2009 Past Questions and Answers

Question 26:

• NECO 2009

The trade that takes place when imported goods are re-exported is known as ____________

A. Entrepot trade
B. Import trade
C. Export trade
D. Visible trade

Question 27:

• NECO 2009

Commerce aids the development of any economy as it ____________

A. Provides for proper accountability
B. Improves the living standard
C. Enhances the even distribution of wealth
D. Encourages the reduction of inflation

Question 28:

• NECO 2009

The inflationary conditions of a country and her interest rate constitute her

A. Social variables
B. Economic variables
C. Political variables
D. Transformational variables

Question 29:

• NECO 2009

In the Sale of Goods Act, goods which have been identified and agreed upon at the time of contract are called ____________

A. Existing goods
B. Fixture goods
C. Unascertained goods
D. Specific

Question 30:

• NECO 2009

A function of a retailer is to ____________

A. Determine the prices of goods
B. Stock a variety of goods
C. Buy goods in large quantities
D. Make money available to the manufacturer