Waec Commerce 2002 Past Questions and Answers

Question 51:

• WAEC 2002

A voluntary body formed by people in the same line of business is known as?

A. Trade union
B. Trade association
C. Cartel
D. Employers' association

Question 52:

• WAEC 2002

(a) State four characteristics of a co-operative society.
(b) Mention and explain three types of co-operative society

Question 53:

• WAEC 2002

(a) State five functions performed by the wholesaler in the channel of distribution.
(b) Explain five factors that encourage the elimination of middlemen from the channel of distribution.

Question 54:

• WAEC 2002

(a) Explain each of the following insurance terms:
(i) consequential loss
(ii) cover note
(b) State four advantages of re-Insurance to a businessman

Question 55:

• WAEC 2002

(a) What is a Chamber of Commerce?
(b) State six functions of a Chamber of Commerce.
(c) State three functions -pc manufacturing association.