WAEC Commerce Past Questions & Answers - Page 182

906.

The form of trade practised by the early men was characterized by?

A.

exchange of goods for money

B.

efficient distribution system

C.

exchange of goods for goods

D.

organized warehousing

Correct answer is C

No explanation has been provided for this answer.

907.

Which of the following is not a function of commerce?

A.

advertising goods

B.

creation of goods

C.

increasing profit made

D.

distribution of goods

Correct answer is A

No explanation has been provided for this answer.

909.

The taken over by government of enterprises formerly owned by private person is referred to as?

A.

privatization

B.

nationalization

C.

commercialization

D.

indigenization

Correct answer is B

No explanation has been provided for this answer.

910.

In a law of contract, what is given in exchange for a promise to perform is?

A.

offer

B.

acceptance

C.

consideration

D.

warranty

Correct answer is B

No explanation has been provided for this answer.