## JAMB 2002 : Commerce

1The most important factor that delayed the development of commerce in Nigeria was

• A. A.the inefficient means of communication
• B. that there were few entrepreneurs
• C. that there were few developed markets
• D. secondary production has to do with changing the

2Secondary 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 materials by an engineering process
• D. nature of raw materials through manufacturing processes

3The 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

4Which of the following best described the scope of commerce

• A. All forms of commercial exchanges relating to 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

5Capital as a factor of production can be used as

• A. Money that is regarded as assets
• B. Goods that are useful in business
• C. Input for further production
• D. Services that provide satisfaction

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