Waec Commerce 1997 Past Questions and Answers

Question 66:

• WAEC 1997

The principle of insurance that restores the insured to the position he occupied immediately before the loss occurred is called

A. Utmost good faith
B. Indemnity
C. Subrogation
D. Contribution
E. Insurable interest

Question 67:

• WAEC 1997

Business activities that direct the flow of goods and services from the producer to the consumer is

A. Promotion
B. Advertising
C. Selling
D. Marketing
E. Transportation

Question 68:

• WAEC 1997

Capital owned is synonymous with the

A. Paid-up capital
B. Working capital
C. Net worth
D. Authorized capital
E. Liquid capital

Question 69:

• WAEC 1997

Which of the following is not performed by marketing?

A. Provision of revenue
B. Provision of employment
C. Export promotion
D. Enlargement of the market
E. Changing the nature of marketable goods

Question 70:

• WAEC 1997

The products that are regularly and easily bought by customers through habit are called?

A. Industrial goods
B. Capital goods
C. Specialty goods
D. Giffen goods
E. Convenience goods