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WAEC Commerce Objectives Questions and Answers 2023/2024
The objective Section brings multichoice for you. Read the questions carefully before Taking your option,
The following are Sample Past questions on Commerce that may be repeated
Instruction: Answer ALL questions.
Shade your answers on the answer booklet provided.
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 which 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 the government
B. dividends to shareholders
C. interests in loans
D. premium on insurance
ANSWER: A (dividends to shareholders)
WAEC Commerce Practice Past Questions
Candidates should attempt the following questions:
1. 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. standardization of products.
D. the workforce being multi-skilled.
3. Industry, commerce, and direct services are all needed for production because
A. they are dependent on each other.
B. they exist to create specialization.
C. they provide services to each other.
D. they sell goods to each other.
4. Which function is not performed by a retailer?
A. displaying goods
B. grading goods
C. manufacturing goods
D. supplying goods.
5. Many people obtain credit from their local shops.
What is this called?
A. cash discount
B. lay-by
C. leasing
D. overdraft.
6. Problems with faulty goods have led to the growth of
A. consumer protection.
B. insurance.
C. mail order.
D. persuasive advertising.
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WAEC 2023/2024 is very simple, feel relaxed and tackle it squarely. Also, some candidates fail WAEC, not because they are dull or not brighter, but because they are not well informed.
If you wish to do it yourself, key into the following:
- Have a positive mindset:
- avoid bad companies
- Set good targets and plans
- Buy recommended books for waec
- Get waec commerce past questions:
- Early preparation for waec
- Do not skip examples and exercises:
- Test yourself
- Practising every time
- Recreation is important
- Doing constant revision
- Participate in waec 2022 classes
Am an art student I know nothing about commerce but I think its very simple to grab and learn like WOW !!!!!!