JAMB Commerce Past Questions & Answers - Page 126

626.

The creation of utilities is to satisfy human wants is referred to as?

A.

production

B.

consumption

C.

industrialization

D.

occupation

Correct answer is A

Production is simply referred to as the creation of utility to satisfy human wants. The stage of production is complete only when manufactured goods get to the final consumer.

627.

A document which advertise the shares of a company is known as a?

A.

memorandum of satisfaction

B.

dividend warrant

C.

deed

D.

prospectus

Correct answer is D

Simply put, a prospectus is a document inviting the public to subscribe/buy the shares of a company.

628.

Law-making is an example of?

A.

indirect service

B.

commerical occupation

C.

direct service

D.

industrial occupation

Correct answer is C

No explanation has been provided for this answer.

629.

The making of doors from timber planks is a type of?

A.

manufacturing

B.

tertiary production

C.

secondary production

D.

primary production

Correct answer is C

Secondary production is the manufacturing and assembly process that involves converting raw materials into components, for instance, making plastics from oil.

630.

A major advantage of a cooperative society is that it?

A.

gives members the opportunity to unite

B.

draws members closer to government

C.

promotes awareness among members

D.

encourages thirft among members

Correct answer is D

No explanation has been provided for this answer.