Commerce 2004 Jamb Examination
Question 1
Ships that sail across the ocean and operate on scheduled timetables are
Correct option: B. ocean liners
Ocean liners are large ships designed for long-distance voyages across oceans, operating on scheduled timetables and regular routes. They are built for speed, capacity, and reliability.
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Question 2
Non-insurable risks include
Correct option: A. gambling
Gambling is a non-insurable risk because it involves speculative risk, not pure risk. Insurable risks must be accidental and measurable; gambling is intentional and uncertain by nature.
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Question 3
The program that makes up the operating system in a computer is
Correct option: C. system software
System software includes the operating system, which manages hardware and software resources on a computer. It provides the essential functions for running application programs.
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Question 4
When an organization studies a market that is underserved by others and creates a product or service for the segment, it is engaged in
Correct option: B. market positioning
Market positioning involves identifying a specific market segment—often underserved—and creating a product or service tailored to meet its needs. This helps the organization establish a unique position in the minds of the target customers.
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Question 5
Coverage against unexpected events is called
Correct option: A. insurance
Insurance provides coverage against unexpected events, such as accidents, theft, or natural disasters. It is based on risk and uncertainty.
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Question 6
An insured risk which occurs accidentally as a result of defects in a ship is
Correct option: D. a particular average
A particular average refers to partial loss or damage to a ship or its cargo caused by an accident, such as defects in the ship, which is borne by the owner of the damaged goods and covered by marine insurance if insured.
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Question 7
Communication enhances business activities by
Correct option: A. facilitating interaction between producers and consumers
Communication plays a key role in business by enabling producers and consumers to exchange information, such as product inquiries, feedback, negotiations, and transactions.
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Question 8
In business, the computer is very important especially in
Correct option: D. information management
In business, computers are especially important in information management because they help in storing, processing, retrieving, and communicating large volumes of data efficiently and accurately.
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Question 9
What is the most important use of promotion in marketing?
Correct option: A. Persuasion
The most important use of promotion in marketing is persuasion, as it aims to influence consumers' buying decisions by highlighting the benefits and value of a product or service.
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Question 10
The current highest decision-making body on privatization and commercialization of public enterprises in Nigeria is the
Correct option: A. National Council on Privatization
The National Council on Privatization (NCP) is the supreme decision-making body overseeing the privatization and commercialization of public enterprises in Nigeria. It sets policy direction, approves the enterprises to be privatized or commercialized, determines pricing, and appoints advisors (en.wikipedia.org).
The Bureau of Public Enterprises (BPE), by contrast, acts as the secretariat and implementing agency executing the policies approved by the NCP (en.wikipedia.org).