FORM TWO COMMERCE NECTA 2014

The process of selling goods and services to other countries is called:

  1.  Horne trade
  2.  International trade
  3.  Retail trade
  4.  Export trade
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(ii)      The movement along a demand curve is caused by:

  1.  change in price of a commodity
  2. change in consumers income
  3.  change in quantity demanded 
  4.  change in consumers taste
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(iii)    Which ofthe following is the best feature ofthe multiple shops?

  1. Providing self services to customers.
  2. Stocking variety goods from different producers.
  3.  Stocking similar goods and often similar in appearance.
  4. Stocking similar goods under one roof and one management.
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(iv)    The main branches of production are:

  1. Commerce, industry and trade
  2. Commerce, industry and public service
  3. Commerce, industry and direct services
  4. Commerce, industry and personal services
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(v)      The shops which sell products of one manufacturer only are called:

  1. Supermarket shops
  2.  Tied shops
  3.  Single shops
  4.  Mobile shops
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(vi)    Which of the following is a reward for land as a factor of production?

  1. Interest
  2.  Profit
  3. wage
  4. Rent
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(vii)  A warehouse where imported goods are kept waiting for customs clearance is called

  1.  Specialized warehouse
  2. Bonded warehouse
  3. Public warehouse
  4. Private warehouse
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(viii)Which of the following service is normally rendered by wholesalers to the consumers?

  1. Providing capital.
  2.  Providing transport. 
  3. Providing advice.
  4.  Providing variety of goods.
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(ix)    An art of making goods and services known to the public is known as:

  1.  marketing
  2. sales promotion
  3. advertising
  4.  communication
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(x)      Any price above equilibrium price for a given commodity leads to:

  1. excess supply
  2. decrease in supply
  3. decrease in demand
  4.  excess demand
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