by Sunday | Dec 13 | Commerce JAMB
A. individuals B. non-governmental organizations C. Government D. multi-national companies Correct Answer: Option C – Government Explanation Gilt-edged securities refer to high-grade bonds that some national governments and private organizations issue in an...
by Sunday | Dec 13 | Commerce JAMB
A. measure of value B. standard of value C. means of settlement D. durable asset for doing business Correct Answer: Option A – measure of value Explanation Money, a commodity accepted by general consent as a medium of economic exchange. It is the medium in which...
by Sunday | Dec 13 | Commerce JAMB
A. Availability B. Scarcity C. Indivisibility D. Convertibility Correct Answer: Option B – Scarcity Explanation The characteristics of money are durability, portability, divisibility, uniformity, limited supply, and...
by Sunday | Dec 13 | Commerce JAMB
A. the legal backing B. the rule of law C. its acceptability in the global market D. the Central Bank Governor’s signature Correct Answer: Option A – the legal backing Explanation Legal backing of money is the legally recognized money within a given a...
by Sunday | Dec 13 | Commerce JAMB
A. increase profit of service providers B. protect the interest of government C. encourage more people into the business D. protect the interest of consumers Correct Answer: Option D – protect the interest of consumers Explanation They are there to protect the...