GCE Commerce 2019
Past Questions

Which of the following best describes commerce?

A Lagos-based importer purchases electronics from China and sells them to retailers in Kano. This activity is an example of

A major disadvantage of a partnership over a sole proprietorship is that

A life assurance policy that pays the sum assured only if the assured dies within a specified period, but pays nothing if the assured survives, is called

Which type of insurance policy covers a business owner against losses arising from the dishonest acts of employees?

The stage in the product life cycle at which sales grow most rapidly and profits begin to rise significantly is the

The practice of dividing a total market into distinct groups of buyers with similar needs or characteristics is known as

Which element of the marketing mix is primarily concerned with communicating the value of a product to target customers?

A pricing strategy in which a firm sets a very low initial price to gain a large market share quickly is called

A bonded warehouse differs from a private warehouse in that goods stored in a bonded warehouse

A statement of account sent by a seller to a buyer at the end of the month serves primarily to

Which of the following correctly distinguishes a bill of lading from an airway bill?

A consumer purchased an electric iron for ₦12,500 with a manufacturer's warranty of one year. After eight months, the iron developed a fault due to a manufacturing defect. The consumer is MOST entitle…

Which of the following organisations is primarily responsible for protecting consumers against substandard goods and services in Nigeria?

Adaeze bought a tin of powdered milk labelled as containing 900g but discovered on weighing that it contained only 750g. This practice by the manufacturer is best described as

A manufacturer produces 5,000 units of a drug and sells each unit to a wholesaler at ₦800. The wholesaler adds a 25% mark-up and sells to a retailer, who in turn adds a further 20% mark-up before sell…

a) Explain the term 'cooperative society'. (2 marks) b) State and explain FOUR types of cooperative societies. (8 marks) c) Distinguish between a public corporation and a public limited liability comp…

a) Define a commercial bank and state THREE functions it performs in an economy. (6 marks) b) Explain FOUR ways in which a central bank controls credit in an economy. (8 marks) c) State ONE difference…

a) Explain FIVE principles that must be observed for an insurance contract to be valid and enforceable. (10 marks) b) Distinguish between 'assurance' and 'insurance', giving ONE example of each. (4 ma…

a) Define the term 'transport' as used in commerce. (2 marks) b) State FIVE modes of transport and give ONE example of goods most suitable for each mode you have stated. (10 marks) c) State THREE ways…

a) What is a bonded warehouse? (3 marks) b) Explain FIVE documents associated with warehousing operations. (10 marks) c) State TWO limitations of warehousing to a trader. (4 marks)

a) Explain the term 'listing' as used in the Stock Exchange. (2 marks) b) State FOUR conditions a company must satisfy before its securities can be listed on the Stock Exchange. (8 marks) c) Explain F…