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
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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
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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
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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
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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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