SuperPrep

WAEC Commerce Practice Questions & Explanations

Try 20 of 131+ WAEC Commerce questions as a free quiz — select your answers, submit, and see your score with a full explanation for every one.

  1. 1.
    Commerce is best defined as the study of?
    Show explanation
    Commerce deals with trade and the distribution of goods and services from producers to consumers.
  2. 2.
    Which of the following is NOT a function of commerce?
    Show explanation
    Production is not part of commerce; it is part of industry.
  3. 3.
    Commerce helps to bridge the gap between?
    Show explanation
    Commerce connects producers and consumers through trade and distribution.
  4. 4.
    Which of the following is a branch of commerce?
    Show explanation
    Trade is a major branch of commerce.
  5. 5.
    The activities involved in buying and selling goods are known as?
    Show explanation
    Commerce includes all activities involved in buying and selling goods.
  6. 6.
    Which of the following is part of commerce?
    Show explanation
    Transportation is a commercial service that helps distribution of goods.
  7. 7.
    Commerce is important because it?
    Show explanation
    Commerce ensures goods are distributed from producers to consumers.
  8. 8.
    Which of the following is NOT a service in commerce?
    Show explanation
    Farming is a primary production activity, not a commercial service.
  9. 9.
    Commerce is divided mainly into?
    Show explanation
    Commerce is broadly divided into trade and aids to trade.
  10. 10.
    Which of the following is an aid to trade?
    Show explanation
    Warehousing helps in storing goods until they are needed.
  11. 11.
    The role of commerce in an economy is to?
    Show explanation
    Commerce facilitates the exchange and distribution of goods and services.
  12. 12.
    Which of the following is a commercial occupation?
    Show explanation
    Banking is a commercial service that supports trade.
  13. 13.
    Commerce deals mainly with?
    Show explanation
    Commerce focuses on the exchange and distribution of goods and services.
  14. 14.
    Which of the following best describes trade?
    Show explanation
    Trade involves buying and selling of goods and services.
  15. 15.
    Advertising in commerce is important because it?
    Show explanation
    Advertising informs consumers about available goods and services.
  16. 16.
    Which of the following helps in storing goods for future use?
    Show explanation
    Warehousing ensures goods are stored safely for future use.
  17. 17.
    Insurance in commerce is used to?
    Show explanation
    Insurance protects businesses against risks and losses.
  18. 18.
    Which of the following is NOT part of commerce?
    Show explanation
    Fishing is a primary production activity, not commerce.
  19. 19.
    The movement of goods from producers to consumers is called?
    Show explanation
    Distribution is the movement of goods to consumers.
  20. 20.
    Commerce is essential to the economy because it?
    Show explanation
    Commerce links production and consumption in the economy.
Answered 0 of 20

More WAEC subjects

Explore careers that use Commerce →