Just the way we did for Biology, Chemistry, and Economics, we have equally the jamb 2018 syllabus and the way Commerce  questions have been set over the years. After a careful study, we where able to come up with these questions. AFTER THE QUESTIONS, YOU CAN ALSO FIND JAMB 2018 COMMERCE AREA OF CONCENTRATIONS.

You can practice  CBT HERE.


1. Commerce is defined as the study of how A. man utilizes the resources in his physical environment B. man produces, distributes and consumes his goods and services C. man buys, sells and distributes goods and services D. raw materials are changed into finished goods.

2. The type of activity which turns processed raw materials into consumer and industrial goods is described as A. extractive B. manufacturing C. constructive D. processing.

3. The production process that combines two or more raw materials into one end product is A. conditioning B. blending C. merging D. synthesis.

4. A demonstration of social responsibility by a business is the payment of A. taxes to government B. dividends to shareholders C. interest on loans D. premium for insurance.

5. A distinguishing characteristic of a limited liability company is that it A. is a collection of many sole proprietors B. is a multiple partnership C. can sue and be sued D. has limited resources.

6. Which of the following takes place when firms producing at different stages in the same industry combine? A. Conglomeration B. Vertical integration C. Horizontal integration D. Cartel.

7. Which of the following groups is paid first when a firm liquidates? A. Perference shareholders. B. Debenture holders C. Ordinary shareholders. D. Cummulative preference shareholders.

8. What are fixtures and fittings in a balance sheet? A. Liquid capital B. Current assets C. Fixed assets D. Working capital

9. Government impose import duties for the following reasons EXCEPT A. to raise revenue for other services B. to act as as a retaliatory measure against other governments C. to discourage the redistribution of income at home D. to protect home industries from external competition.

10. The business in the stock exchange is characterized essentially by A. dealing. B. brokerage C. speculations D. transactions.

11. The rate at which a country’s exports exchange for its imports is called A. balance of payments B. balance of trade C. terms of payment D. terms of trade.

12. Which of the following items has the shortest effect on the consumer? A. Fashion.B. Innovation.C. Fad D. Attribute.

13. The postal organization which preceded in Nigerian Postal Service is A. Post and Telecommunications B. Post and Telephone C. Post and Teleprinter D. Post and Telegraph.

14. Which of the following is a form of sales promotion? A. Advertising on radio.B. Offering free samples. C. Distributing printed materials. D. Advertising on Television.

15. One advantage of personal selling over all other elements of promotion is that A. it can provide instant feedback B. it is very cheap in terms of cost per contract C. it does not need to use mass media D. sales people are well trained.

16. Which of the following must be present in an agency by agreement? A. Intentions. B. Will. C. Consent. D. Authority.

17. An agreement to sell is distinguishable from a sale because in the former, the transfer of goods is A. not anticipated. B. not discussed. C. deferred. D. immediate.

18. Drawing two parallel lines across a cheque means that is has to be paid into the account of the A. payee B. drawer C. drawee D. payer.

19. The harmonious relationship among the various units in an organization is ensured through A. co-ordinationB. motivation C. planning. D. leadership.

20. Which of the following makes other functions of business its appendages? A. Production. B. Marketing. C. Finance. D. Personnel.

21. The West African Clearing House became legally operational on A. 1st July, 1976 B. 25th June, 1975 C. 14th March, 1975 D. 3rd May,1974.

22. Which of the following is the most important business resources? A. Money. B. Management C. Materials D. Manpower.

23. The financial index which compares current assets directly with current liabilities is known as current A. turnover B. capital C. ratio D. balance.

24. Factoring is a trade debt term used when the agent buys all the trade debts of the A. importers B. exporters C. nations D. customers.

25. Construction activities include the building of houses and roads as well as A. bricklaying B. shoemaking C. blacksmithing D. car assembling.

26. Profit that is expressed as a percentage of the cost of goods sold isreferred to as A. margin B. mark-up C. gain percent D. gross profit.

27. The merger of two companies producing the same type of products is an example of A. vertical integrationB. horizontal integration C. lateral merger D. an acquisition.

28. Goods imported into a country for the purpose of reexporting attracts a rebate known as A. customs draw back B. export royalty C. incentive D. export rebate.

29. The main advantage of a sole trader is the freedom to A. employ anyone he likes B. seek advice from any source C. take quick decisions D. plough all the profits back into the business.

30. In the case of voluntary liquidation of a business, the receiver is appointed by the A. creditors B. debtors C. directors D. shareholders.

31. When a company uses more of loans than equity to finance its business, the company is said to be A. bankrupt B. solvent C. highly geared D. in a strong liquid position.

32. The nominal value of a share as specified in the Memoradium of Association and the share certificate is the A. disconted value B. stock value C. face value D. par value

33. The breaking down of a market into separate and identifiable elements each with its own special product requirements is known as market A. differentiationB. Segmentation C. penetration D. identification.

34. The main advantage of road transport is that it is A. convenient and flexibleB. cheap and direct C. common and fastD. safe and available.

35. The practice by which an insurance company accepts a very large riskand later shares it with other insurance companies are called A. subrogationB. contribution C. re-insurance D. indemnity.
36. A person who undertakes any risk in insurance business is known as A. a broker B. an underwriter C. an insurer D. an actuary.

37. A term which indicate that a share is temporarily suspended is A. ex-dividend B. cum-dividend C. bond D. stock.

38. Leasing is the right to use assets for an agreed period in return for A. profit B. interest C. wages D. rents.

39. The turnover of a firm may be affected by A. the demand for its product B. the cost of its goods sold C. its closing stock D. its net assets.

40. In foreign trade, document of title is known as A. bill of lading, B. bill at sight C. certificate of origin D. declaration form.

41. The process of creating more market for a product is called A. advertising B. marketing C. promotion D. consumerism.

42. When a vendor supplies newspapers from house to house and across the streets, the element of marketing mix involved is A. product B. price C. promotion D. place

43. The main advantage of using cinema as an advertising medium is that it is A. cheap B. accurate C. accessible D. informative.

44. The main objective of a trade association can best be described as promoting and protecting A. the products B. common interest C. the market D. customer’s interest.

45. The management function of evaluating whether objectives are being achieved is A. planning B. directing C. organizing D. controlling.

46. One of the criteria for differentiating consumer markets from industrial ones is the A. type of demand B. type of supply C. nature of the services rendered D. price of the goods.

47. A source of capital to private limited companies is shares issued to A. the public B. selected persons C. members of the Board of Directors D. Dedicated members of staff.

48. A provision in the charter of a company which gives holders of common stock the first option to purchase additional issues of the firms’ common stock is the A. pre emptive right B. shareholders right C. ex-dividend right D. oversubscription right.

49. The two main categories under which marine losses fall into are A. particular loss and average loss B. actual loss and general loss C. total loss and partial loss D. voyage policy loss and time policy loss.

50. Personnel activities that promote the general image of an organisation are part of A. advertising B. sales promotion C. public relations D. business correspondence.


• Aids-to-trade
• Information and Communication Technology (ICT)


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