2023 - JAMB Commerce Past Questions and Answers - page 2

11

The type of letters that are delivered through the normal mail or by airmail express service is referred to as

A
express letters
B
registered letters
C
inland letters
D
airmail letters
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12

The macro-environmental forces and trends which are a constraint on business operations are referred to as

A
internal factors
B
technological factors
C
economic factors
D
external factors
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13

Land as a factor of production does not vary in

A
cost
B
quality
C
quantity
D
nature
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14

An individual that links the producer with the retailer is

A
an agent
B
a wholesaler
C
a principal
D
an entreprenuer
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15

A document that lists the goods that are being sent from one place to another is

A
mail transfer
B
shipping note
C
consular invoice
D
bill of lading
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16

The board of directors of public enterprise is appointed by who?

A
government
B
management
C
employees
D
shareholders
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17

Which of the following legislation aims primarily at the protection of consumers?

A
Company\'s Act
B
Partnership Act
C
Trade Description Act
D
Law of contract
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18

A business organization that exploits the capabilities of a member to remedy the weakness of another is a

A
joint venture
B
partnership
C
nominal partnership
D
cooperative
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19

Parts payments made on alloted shares by subscribers is usually the

A
authorized capital
B
subscribed capital
C
called -up capital
D
issued capital
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20

A major function of chamber of commerce is

A
promoting both home and foreign trade
B
increasing productivity
C
promoting trade in a particular line
D
maximizing profit
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