WAEC 2021 Commerce Question And Answer

WAEC 2021 Commerce Question And Answer

2021 WAEC Commerce Questions And Answers

Commerce obj objective and essay.

1-10: BCDDCDCBCA
11-20: AACCCACDAA
21-30: CDBDACCCAA
31-40: ABBCABBCBD
41-50: DBDABDCCDD

1. Commerce can be defined as the study of how

A. man utilizes the resources in his physical environment

B. man produces, distributes and consumes his goods and services.

C. man buys, sells and distributes goods and services

D. raw materials are changed into finished goods

ANSWER: C (man buys, sells and distributes goods and services)

2. …… activity turns processed raw materials into consumer and industrial goods is described as

A. extractive

B. manufacturing

C. constructive

D. processing

ANSWER: B ( manufacturing )

3. The production process that combines two or more raw materials into one end product is

A. conditioning

B. blending

C. merging

D. synthesis

ANSWER: B (blending)

4. A demonstration of social responsibility by a business is the payment of

A. taxes to government

B. dividends to shareholders

C. interests on loans

D. premium on insurance

ANSWER: A (dividends to shareholders)

5. A distinguishing characteristics of a limited liability company is that it

A. is a collection of many sole proprietors

B. is a multiple partnership

C. can sue and be sued

D. has limited resources

ANSWER: C (can sue and be sued)

What does the term commerce describe?
A aids to trade and direct services
B direct services and industry
C industry and trade
D trade and aids to trade.

2. Division of labour in a firm leads to
A diseconomies of scale.
B longer working hours for the workforce.
C standardisation of products.
D the workforce being multi-skilled.

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