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An association that protects the interest of members in the same line of business is?

by Sunday | Mar 15 | Commerce WAEC

A. consumer association B. trade union C. trade association D. chamber of commerce Correct Answer: Option C C. trade association Explanation A trade association is a body representing organizations within the same trade. It aims to protect their collective interests,...

Which of the following means of payment makes the bank both the drawer and drawee?

by Sunday | Mar 15 | Commerce WAEC

A. standing order B. bill of exchange C. bank draft D. open cheque Correct Answer: Option C C. bank draft Explanation A bank draft is a cheque drawn by a bank on its own funds.

How many countries make up the River Niger Basin commission?

by Sunday | Mar 15 | Commerce WAEC

A. 16 B. 12 C. 10 D. 9 Correct Answer: Option D D. 9 Explanation Today the Niger Basin Authority is a regional economic institution formed by nine countries of West Africa and Central Africa: Benin, Burkina Faso, Cameroon, Chad, Ivory Coast, Guinea, Mali, Niger, and...

When a government acquires business enterprises formerly owned by individuals, it is termed?

by Sunday | Mar 15 | Commerce WAEC

A. commercialization B. indigenization C. privatization D. nationalization Correct Answer: Option D D. nationalization Explanation Nationalization is the process of transforming private assets into public assets by bringing them under the public ownership of a...

Which of the following aids to trade facilitates production ahead of demand?

by Sunday | Mar 15 | Commerce WAEC

A. insurance B. transport C. advertising D. warehousing Correct Answer: Option D D. warehousing Explanation Warehousing is the act of storing goods that will be sold or distributed later. While a small, home-based business might be warehousing products in a spare...

Dividing the market for a product according to potential buyers who have common characteristics is?

by Sunday | Mar 15 | Commerce WAEC

A. market analysis B. market penetration C. market segmentation D. market research Correct Answer: Option C C. market segmentation Explanation Market segmentation is the process of dividing a market of potential customers into groups, or segments, based on different...
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