Commerce 2011 Jamb Examination
Question 1
The core function of commerce is to facilitate exchange among individuals and firms.
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Question 2
Occupations are classified into industry, commerce and services.
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Question 3
Oil exploration is an extractive occupation because it deals with natural resources.
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Question 4
Public services are rendered by the government to benefit society.
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Question 5
The creation of goods and services to satisfy human wants is called production.
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Question 6
When raw materials from the extractive sector are processed into finished goods, it is secondary production.
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Question 7
Division of labour often leads to monotony of work because tasks become repetitive.
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Question 8
The wholesaler links the producer with the retailer by buying in bulk and selling in smaller quantities.
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Question 9
A key function of a retailer is breaking bulk—buying in large quantities and selling in small units.
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Question 10
Manufacturers sell directly to consumers mainly to discourage the activities of middlemen.
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