Preparing for the Joint Admissions and Matriculation Board (JAMB) examination can be a daunting task.
To help you in your preparations, we have compiled a list of 50 repeated questions for the Commerce subject in JAMB 2023.
These questions cover various aspects of commerce, including entrepreneurship, trade associations, insurance, organizational structures, marketing, and more. Test your knowledge and see how well you can answer these questions!
Objective Questions:
- The major responsibility of an entrepreneur is A. employing all factors of production in the business B. coordinating and determining the proportion of what to produce C. planning and organizing all activities in the business D. directing and controlling all the affairs of the business
- Which of the following countries are members of the Lake Chad Basin Commission? A. Nigeria B. Benin and Nigeria C. Chad and Benin D. Nigeria and Mali
- The most important factor that delayed the development of commerce in Nigeria was A. the inefficient means of communication B. that there were few entrepreneurs C. the unavailability of infrastructural facilities D. that there were few developed markets
- Which of the following best describes the scope of commerce? A. All forms of commercial exchanges and the manufacturing industry B. Buying and selling and the construction industry C. All occupational exchanges relating to industries and commercial activities D. Buying and selling as well as the extraction of natural resources.
- Capital as a factor of production can be used as A. money that is regarded as an asset B. goods that are useful in business C. input for further production D. a service that provides satisfaction
- The agency that currently oversees the privatization and commercialization processes in Nigeria is the A. Securities and Exchange Commission B. Technical Committee on Privatization and Commercialization C. Nigeria Stock Exchange D. Bureau of Public Enterprises
- Okeze contracted to sell TV sets to Ojo, unknown to them, the sets were stolen in transit. This contract may be terminated on the grounds of A. bankruptcy B. frustration C. fraudulence D. breach of contract
- Secondary production has to do with changing the A. shape of raw materials through construction operations B. physical form of raw materials into finished goods C. utility of raw material by engineering processes D. nature of raw materials through manufacturing
- A core investor in the current phase of privatization in Nigeria is one who A. can afford to buy most of the shares of the enterprises B. will be at the core of the enterprises C. can mobilize foreign currency equivalent to the value of the enterprises D. has the technical know-how of the enterprises.
- The agency in Nigeria which ensures that products conform to government quality specifications is the A. Standard Organization of Nigeria B. Nigeria Consumer’s Association C. Manufacturers Association of Nigeria D. Nigeria Chamber of Commerce
- An example of a service-rendering trade association is A. Nigerian Bar Association B. Association of Nigerian Miners C. Cocoa Farmers Association D. Manufacturers Association of Nigeria
- The commercialization of public enterprises is aimed at A. increasing efficiency and making the enterprises self-sufficient B. advertising and promoting the goods and services of the enterprise C. increased assistance and patronage of the enterprises by the public D. selling the goods and services of the enterprises
- An author’s exclusive right to his published and unpublished works is known as A. author’s right B. constitutional right C. patent right D. copyright
- Under an endowment policy, the money handed over to the insured at the expiration of the stipulated time or at death is the A. indemnity B. surrender value C. lump sum benefit D. insurance premium
- The machine used for sending telex messages is known as a A. radar B. fax machine C. Dictaphone D. teleprinter
- The type of computer commonly found in offices is A. laptop B. desktop C. hybrid computer D. mainframe computer
- The unit through which the results of processed data are displayed is the A. logic unit B. display unit C. control unit D. output unit
- Which of the following is used to inform the addressee that a registered parcel is ready for collection? A. Express label B. Counterfoil C. Telegram D. Slip
- Which of these insurance principles requires a close connection between the actual loss suffered and the risk insured? A. Indemnity B. Proximate cause C. Contribution D. Subrogation
- The mode of transporting crude oil to the ports for export purposes is by A. tanker B. rail C. road D. pipeline
Conclusion
Preparing for the JAMB examination requires diligent study and practice.
By going through these repeated Commerce questions, you can assess your understanding of the subject and identify areas that need further improvement.
Remember to study the relevant topics thoroughly and seek additional resources if needed. Good luck with your preparations for the JAMB 2023 examination!