WAEC Commerce Questions and Answers 2022/2023 (Essay/Objectives)

Questions and Answers for WAEC Commerce. I will provide you with free access to WAEC Commerce objective and theory repeated questions. You’ll also learn how WAEC Commerce questions are constructed, as well as a variety of other test information.

The West African Examination Council is an annual examination body that sets questions from topics that students should be able to write and pass without stress following their education in senior secondary school.

WAEC Commerce Questions and Answers

Below is WAEC Commerce Questions and Answers 2022/2023 to OBJ/ESSAY

1. Commerce can be 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

ANSWER: C (man buys, sells and distributes goods and services)

2. …… activity turns processed raw materials into consumer and industrial goods is described as

A. extractive

B. manufacturing

C. constructive

D. processing

ANSWER: B ( manufacturing )

3. The production process that combines two or more raw materials into one end product is

A. conditioning

B. blending

C. merging

D. synthesis

ANSWER: B (blending)

4. A demonstration of social responsibility by a business is the payment of

A. taxes to government

B. dividends to shareholders

C. interests on loans

D. premium on insurance

ANSWER: A (dividends to shareholders)

5. A distinguishing characteristics 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

ANSWER: C (can sue and be sued)

WAEC Commerce Practice Questions

Candidates should attempt the following questions:

1. What does the term commerce describe?

A aids to trade and direct services

B direct services and industry

C industry and trade

D trade and aids to trade.

2. Division of labour in a firm leads to

A diseconomies of scale.

B longer working hours for the workforce.

C standardisation of products.

D the workforce being multi-skilled.

3. Industry, commerce and direct services are all needed for production because

A they are dependent on each other.

B they exist to create specialisation.

C they provide services to each other.

D they sell goods to each other.

4. Which function is not performed by a retailer?

A displaying goods

B grading goods

C manufacturing goods

D supplying goods.

5. The picture below shows a plastic card used by consumers.

WAEC Commerce Questions

Which type of card is shown?

A cash and carry card

B credit card

C debit card

D loyalty card.

6. What is the main disadvantage of e-commerce to the customer?

A danger of credit card fraud

B power failure during a transaction

C retailer running out of stock of the items ordered

D wrong goods supplied by the retailer.

7. Many people obtain credit from their local shops.

What is this called?

A cash discount

B lay-by

C leasing

D overdraft.

8. Problems with faulty goods have led to the growth of

A consumer protection.

B insurance.

C mail order.

D persuasive advertising.

9. What is a disadvantage of rapid and accurate communication systems?

A ability to communicate one message to multiple addresses

B employees within a company are not linked using networks

C greater speed of communication between businesses in different countries

D increased cost and complexity of methods used.

10. What is an advantage of telephone communication in business?

A copies of documents may be transmitted

B messages can be corrected before transmission

C problems may be discussed

D visual contact is made.

WAEC Commerce Essay and Objective 2022 (EXPO)

The above questions are not exactly 2022 WAEC Commerce questions and answers but likely WAEC Commerce repeated questions and answers.

These questions are for practice. The 2022 WAEC Commerce expo will be posted on this page on the day of the WAEC Commerce examination. Keep checking and reloading this page for the answers.

Be patient and keep reloading in case the answers come late.

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