Waec Commerce 1996 Past Questions and Answers

Question 51:

• WAEC 1996

A retail co-operative society aims at

A. Encouraging members to save money
B. Buying seeds and fertilizers
C. Manufacturing goods as cheaply
D. Lending money to members at low rate of interest
E. Cutting off the profits of middlemen

Question 52:

• WAEC 1996

The value of a product expressed in monetary terms is known as

A. Utility
B. Price
C. Premium
D. Commission
E. Interest

Question 53:

• WAEC 1996

Which of the following is not true of franking machines ?

A. Hired by companies and licensed by NIPOST
B. Print postage imprssion on mails
C. Can print company's logo on mails
D. Advance payment must be made to NIPOST
E. Postage stamp is used

Question 54:

• WAEC 1996

Which of the following is suitable for transporting fish a long distance?

A. Tramp
B. Cargo liner
C. Tanker
D. Barge
E. Refrigerated ship

Question 55:

• WAEC 1996

Which of the following is not an element of a contract?

A. Consideration
B. Probability
C. Legality
D. Capacity
E. Consensus