Waec Commerce 2005 Past Questions and Answers

Question 31:

• WAEC 2005

Farming is an activity that falls under?

A. Tertiary occupation
B. Commercial occupation
C. Extractive occupation
D. Secondary occupation

Question 32:

• WAEC 2005

Which of the following coordinates other factors of production to achieve set objectives?

A. Land
B. Labour
C. Enterpreneur
D. Capital

Question 33:

• WAEC 2005

Production is defined as

A. An industrial undertaking
B. Creation of utility
C. Earning one's daily bread
D. The changing of raw materials

Question 34:

• WAEC 2005

An advantage of a public limited company over a private one is the

A. Limited liability of share holders
B. Easy transferability of shares
C. Access to retained earnings
D. Less taxation by government

Question 35:

• WAEC 2005

The distribution of profits based upon the level of patronage in the business is a common feature of

A. Partnership firms
B. Public limited companies
C. Co-operative societies
D. Private limited companies