Waec Commerce 2005 Past Questions and Answers

Question 26:

• WAEC 2005

Terms of trade is the?

A. Rate at which the central bank discounts first class bills
B. Rate at which a country's exports exchange for its imports
C. Expected rate of returns on an investment
D. Rate of payment for goods and services purchased

Question 27:

• WAEC 2005

Which of the following encourages trade between regions?

A. Differences in currencies of countries
B. Difference in national income of countries
C. Existence of trade associations
D. Differences in natural resources

Question 28:

• WAEC 2005

Which of the following is not suitable for fire purchase?

A. Textiles
B. Furniture
C. Refrigerators
D. Printing machine

Question 29:

• WAEC 2005

The form of trade practiced by the early men was characterized by

A. Exchange of goods for money
B. Efficient distribution system
C. Exchange of goods for goods
D. Organized warehousing

Question 30:

• WAEC 2005

Which of the following is an advantage of indigenization ?

A. Checks exploitation by citizens
B. Business risks are shared
C. Fosters self-reliance
D. Leads to monopoly of power