Commerce 2008 Jamb Examination
Question 1
Distribution involves moving goods from the point of production to the consumers. Transportation ensures that products reach different markets and customers, thus facilitating distribution. Therefore the correct option is A.
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Question 2
Raw materials are derived from natural resources through extraction. Activities like mining, fishing, and drilling bring raw materials directly from land and sea. Therefore the correct option is D.
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Question 3
Soap-making involves transforming raw materials such as oils into finished products. This is a manufacturing process, which belongs to secondary occupation. Therefore the correct option is B.
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Question 4
Primary occupations are those that directly utilize natural resources. Fisherman and gardener fall into this category because they derive resources from land and sea. Therefore the correct option is B.
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Question 5
Changing the form of raw materials into usable form is conversion. It specifically refers to altering the shape, nature, or structure of a material to suit a purpose. Therefore the correct option is C.
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Question 6
In the long run, firms can adjust all inputs. This means no factor of production remains fixed; they are all variable. Therefore the correct option is B.
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Question 7
The volume and standard of production depend on how available the factors of production are. Without adequate land, labour, capital, and enterprise, production cannot reach desired levels. Therefore the correct option is B.
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Question 8
A thrift cooperative society is formed to encourage members to save regularly and grant them credit facilities when needed. Therefore the correct option is C.
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Question 9
The certificate of incorporation is the legal document issued by the Corporate Affairs Commission that gives a company its legal personality. Therefore the correct option is A.
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Question 10
One major reason for refusal of registration is when the proposed company's name conflicts with an existing registered company. Therefore the correct option is A.
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