Waec Commerce 2011 Past Questions and Answers

Question 31:

• WAEC 2011

Which of the following distinguishes home trade from foreign trade?

A. Payments are easily arranged
B. Taxies are levied
C. Goods have to be warehoused
D. Middlemen are not required

Question 32:

• WAEC 2011

Before the advent of legal tender and credit instrument, which of the following was used as a medium of exchanged?

A. Currency notes
B. Cowries
C. Cheques
D. Bankdrafts

Question 33:

• WAEC 2011

When C.I.F is quoted on an invoice, it means that the price includes the

A. Cost of goods only
B. Cost of insurance only
C. Cost of carriage only
D. Cost, insurance and carriage

Question 34:

• WAEC 2011

Encouraging a high quality of members' products through the circulation of research information is a function of

A. Manufacturers Association
B. Trade Union
C. Employers Association
D. Consumers Association

Question 35:

• WAEC 2011

A voluntary association of business executives within a locality is known as

A. Trade Union
B. Consumers' Association
C. Chamber of Commerce
D. Trade Association