1993 WAEC Commerce past questions and answers

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1
The function of commerce in production is that it?

A helps in the extraction of raw materials

B provides a link between the different arms of production

C is the only branch that satisfies wants

D yields result



Correct Option: B


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2
Which of the following is not a basic want of man?

A Transport

B Food

C Water

D Clothing



Correct Option: A


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3
Which of the following comes last in the chain of distribution? The

A consumer

B manufacturer

C retailer

D wholesaler



Correct Option: A


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4
Which of the following is not an aid to trade?

A Transport

B Production

C Banking

D Insurance



Correct Option: B


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5
Trade can be described as?

A purchase of goods and services

B production of goods

C buying and selling

D distribution of goods



Correct Option: C


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6
A system in which people provide their own needs directly is known as?

A sub-standard economy

B subsistence economy

C mixed economy

D monetized economy



Correct Option: B


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7
Which of the following is not a branch of production?

A Consumption

B Extraction

C Manufacturing

D Distribution



Correct Option: A


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8
In which class of occupation would doctors, teachers and entertainers be grouped?

A Extraction

B Industrial

C Direct Service

D Commercial



Correct Option: C


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9
Department stores are usually located?

A where low income earners live

B In suburban towns

C at city centres

D in low rental areas



Correct Option: C


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10
Which of the following statements is true of the manufacturing industry?

A The factors of production cannot move to other occupations

B It is involved in changing raw materials to finished goods

C Its product cannot be distributed to consumers

D It doesn't not benefit from the services of direct labour



Correct Option: B


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