Waec Commerce Past Questions and Answers

Question 211:

• WAEC 1991

The tendency for firms and individuals to concentrate on the activity which is of most advantage of them is known as?

A. Decentralization
B. Diversification
C. Commercialization
D. Specialization
E. Rationalization

Question 212:

• WAEC 1991

The major divisions of commerce are?

A. Import, export and banking
B. Home trade and foreign trade
C. Trade and aids to trade
D. Exchange, consumption and production
E. Trade and banking

Question 213:

• WAEC 1991

The sole purpose of production is?

A. Employment
B. Promotion
C. Consumption
D. Competition
E. Enterprising

Question 214:

• WAEC 1991

Commerce developed as a result of?

A. Speculation
B. Competition
C. Specialization
D. Importation
E. Exportation

Question 215:

• WAEC 1991

Which of the following is concerned with obtaining raw materials from their natural locations?

A. Extractive industry
B. Manufacturing industry
C. Construction industry
D. Transport industry
E. Engineering industry