Commerce 2006 Waec Past Questions and Answers

Question 51 :

• WAEC 2006

(a) Who is a common carrier?
(b) State three functions of each of the following communication agents:
(i) Post Office.
(ii) Telecommunication.
(iii) Courier companies.

Question 52 :

• WAEC 2006

(a) What is turnover?
(b) The following information relates to Mrs. Lulu, a trader.

Goods	selling price N	cost priceN	selling expensesN
BucketsBoxesBournvitaLace material	4,0005,0006,00012,000	3,5004,0005,50010,500	4002503001,000

(i) Calculate the gross profit percentage on each item. (ii) Calculate the net profit on each item.

Question 53 :

• WAEC 2006

(a) Explain seven functions of a commercial bank.
(b) Explain three types of accounts that are operated in a commercial bank.

Question 54 :

• WAEC 2006

(a) Define marketing mix
(b) Explain the term marketing concept.
(c) List and describe the four elements of marketing mix.

Question 55 :

• WAEC 2006

(a) List four types each of:
(i) Small scale retailers.
(ii) Large scale retailers.
(b) Explain four reasons why small scale retailers survive despite the dominance of large scale retail outlets.