Commerce 2019 Jamb Examination

Commercial occupations are jobs related to trade and services like banking, trading, and insurance. A goldsmith, however, is involved in production, not commerce.

Output devices include monitor, plotter, and printer, which present processed data. A joystick is an input device, not output.

A virus is a malicious program that replicates itself in a computer system, affecting memory and storage devices without permission.

Insurable risks are those that can be predicted, quantified, and protected against through insurance policies.

Marine insurance provides coverage for goods transported by sea and is compulsory in international trade to safeguard against losses during shipment.

Consumer orientation emphasizes meeting the needs of buyers. Its primary goal is to achieve customer satisfaction by producing goods and services that fulfill their demands.

When contracts are awarded through tenders, bid pricing is used because firms compete by submitting price quotations to win the contract.

It should be noted that production is said to be complete when goods and services produced get to the final users or consumers. The production process involves: Producers, distributors and consumers.

Consumer goods are tangible items purchased for personal use such as cars, spoons, and shoes. A nurse is a service provider, not a consumer good.

Human resources are the most important because they provide the skills, knowledge, and decision-making ability that drive all other resources.