Waec Commerce 2008 Past Questions and Answers

Question 1:

• WAEC 2008

Commerce can be defined as the

A. Exchange of goods and services
B. Distribution and exchange of goods and services
C. Distribution of services at home
D. Export of services

Question 2:

• WAEC 2008

Commerce can be defined as the

A. Exchange of goods and services
B. Distribution and exchange of goods and services
C. Distribution of services at home
D. Export of services

Question 3:

• WAEC 2008

Which of the following is not a function of commerce?

A. Facilitates mass production of goods
B. Assists in raising capital
C. Creates goods and services
D. Offers employment

Question 4:

• WAEC 2008

Production is defined as

A. An industrial activity
B. Creation of utilities
C. The exchange of goods and services
D. Changing of raw materials into finished goods

Question 5:

• WAEC 2008

Babou Penn, a fisherman says he has all necessary materials to go to sea today, except the captain of his boat . Captain here as a factor of production refers to

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