Commerce 2015 Waec Past Questions and Answers

Question 51 :

• WAEC 2015

Which of the following is NOT backed by gold but by government securites?

A. Fiduciary note
B. Token money
C. Commodity money
D. Fiat money

Question 52 :

• WAEC 2015

The type of wholesaler that combines selling, delivery and collection in one operation is

A. Specialist wholesaler
B. Rack jobber
C. Drop shipment
D. Truck wholesaler

Question 53 :

• WAEC 2015

(a) With the aid of a diagram, show the different classes of occupation.
(b) What is occupation?
(c) Explain with one example each, three classes of occupation shown in 1 (b) above.

Question 54 :

• WAEC 2015

(a) What is a vending machine?
(b) State six reasons why supermarkets are popular with shoppers.

Question 55 :

• WAEC 2015

(a) Outline five functions of commercial banks.
(b) List and explain five ways the central bank controls the commercial banks.