NABTEB Commerce Questions 2022 Objective and Theory Update : Current School News

NABTEB Commerce Questions 2022 Objective and Theory Update

Filed in Exam by on February 10, 2022

APPLY NOW 👉 WORK IN CANADA WITH FREE SPONSORSHIP!


 

– NABTEB Commerce Questions –

NABTEB Commerce Questions will guide you before taking part in the NABTEB exams. Commerce Questions NABTEB Expo Questions are out now on our website.

NABTEB Commerce Questions 2022 Objective and Theory Update

About NABTEB

NABTEB is one of the examination bodies set up by the Federal Government in 1992 to reduce the burden of conducting examinations, which involves a lot of technical and trade-related practicals.

The board conducts the National Technical Examination (NTC), National Business Certificate (NBC) and their respective advance level examinations (ANBC and ANTC).

READ ALSO!!!        

NABTEB GCE Guide Nov/Dec 2021

NABTEB GCE Registration Form      

NABTEB Portal www.nabteb.gov.ng/

NABTEB Commerce Questions and Answers 2022

Here are some questions you need to take note of below:

QUESTION 1

a. Give reasons why firms spend a lot of money on advertising.
b. State the reasons why a businessman may choose each of the following media for advertising:
his goods.
(i) Newspaper (ii) Television (iii) Radio.

ANSWER:
a. The following are some of the reasons why firms spend money on advertising:
(1) It projects a good image of the firm in the external world.
(2) It educates the public on the uses of the goods
(3) It leads to an increase in sales
(4) It is used to let the public know of the introduction of new products
(5) It helps to enlighten the public about the availability of goods
(6) It may give rise to higher revenue
(7) It may lead to an increase in production
(8) It creates employment.

b(i) The reasons why a businessman uses a newspaper for advertising his goods are;
(a) Circulates throughout the country
(b) Can be printed in many languages
(c) It can be preserved for future use
(d) Circulates daily.
(e) It can be presented in various colours

(ii) Businessman uses television as a means of advertising because of the following;
(a) It combines sight and sound
(b) It uses colour
(c) It covers a wide range of goods
(d) It is suitable for a target audience
(e) It has an instant effect through pictorial demonstration
(f) It appeals to different classes of people who watch it

(iii) Radio is used as a means of advertising by businessmen because of the following
(a) Nearly all homes possess a radio set.
(b) Covers all nooks and corners
(c) Various languages could be used to reach the people
(d) Slogans or catchy words are often used

QUESTION 2

(a) Define commerce
(b) Explain the different functions of commerce in your country.

ANSWER:
(a) Commerce can be defined as the process of buying, selling, exchange and distribution of goods
and services. Commerce can also be defined as trades and aids to trade.
(b) The function of commerce in any given country is as follows;

(1) Provide employment opportunities for citizens of the country. This can be seen in people who engage either in retail, wholesale or a big conglomerate trading.

(2) Storage of goods is made possible through commerce. Warehousing as one of the aids to trade ensures the storage of goods until they are wanted.

In most cases, big traders like wholesalers and big retailers usually gain large quantities of goods for sale. They need are housing facilities to store the goods before they are sold.

(3) It increases the standard of living of the people by making it possible for scarce commodities to arrive in the country from other countries through international trade.

(4) It facilitates international cooperation. Many countries engage in different types of productive occupations due to improvements in technology. These countries produce more than they need for themselves.

They export the surplus of what they produce to other countries that need these things. In turn, they import from other countries some other things they are not able to produce themselves.

This interdependence of people and countries fosters friendship and cooperation.

(5) Infrastructural development. Commerce brings about the development of the infrastructural facilities of a country.

Many developing countries depend on the services of advanced countries for the provision and building of their infrastructural facilities.

(6) Through banking and finance, the fund needed for commerce is made possible. 

(7) Through commerce, the exchange of goods and services is made possible.

QUESTION 3

a. State the ways through which transport aids trade
b. Explain the factors which a businessman may consider before choosing means of transport for
his goods

ANSWER:
a. The ways through which transport aids trade are
1. Facilitates the movements of goods and passengers from place to place.
2. It aids specialization by moving the factors of production from one place to the other.
3. Greater choice of goods is made available to the consumers.
4. Helps in the stabilization of prices of manufactured and agricultural goods.
5. It creates an interdependent world. No country can now exist without the others.

b. The factors which a businessman may consider before choosing means of transport for his
goods are;
1. Distance/Location: The location where the goods are needed will help to determine the choice of transport. Where the place is far, air may be chosen.
2. Unit volume of the goods: valuable goods like minerals need to be carried as quickly as possible
to avoid pilfering.
3. Destination: There are such places that have no other means of transport than by road.

4. Available means: The means of transport available where the goods are located is what will be
used.
5. The nature of the goods: perishable items need to be carried quickly to minimize spoilage while
bulky goods are carried by rail or road.
6. The weight of goods is equally considered
7. Customer preference: The choice of the customer will also influence the choice of transport.
8. Safety of the goods: A means of transport that will ensure safe movement of goods is also a
factor to consider
9. Volume or quantity of goods also determines the choice of transport for a given commodity
10. Cost of transport is also considered because a trader will prefer a cheaper means of transport
11. Timeliness of goods: Fast means of transport is needed to convey goods needed urgently

QUESTION 4

a. Outline the disadvantages of partnership
b. Explain the condition for dissolving a partnership.

ANSWER:
a. The disadvantages of partnership are;

1. Unlimited liability: each partner is jointly liable with the other partners for all the debts and
obligations of the firm
2. The formation of a partnership requires a lot of formalities.
3. Constant disagreement that may bring the business to end
4. Death or retirement of a member may result in the end of the partnership
5. The pride of ownership in partnership business is always diminished
6. In most cases, the action of one partner binds the other whether or not favourable
7. There is always a delay in decisions making due to a series of consultations.
8. Partnership businesses always lack retained profit because of the business profit shared.

b. The conditions for dissolving a partnership are;

1. At the expiration of the fixed time for which the partnership was formed
2. By court order to dissolve the association.
3. When one partner gives notice to the others of his intention to dissolve the firm
4. At the death of a partner or if he is declared bankrupt
5. By the termination of the venture or undertaking for which the business was formed
6. The happening of an event that causes the partnership to become illegal

NABTEB Commerce Questions: QUESTION 5

a. List the measure which government may take to restrict import
b. state the measures a government may take to promote export

ANSWER:
a. The measures government may take to restrict imports are;

1. Import license: Government making it a rule for importers to obtain it before embarking on
importation

2. Devaluation of the local currency: This will make the importation to be very costly.

3. Stiff exchange control regulation: This makes it difficult for importers to obtain foreign exchange to
pay for the commodities they might like to import.

4. By encouraging the use of homemade products.

5. Imposition of import duties: Heavy tariff which will increase the prices of the goods, thus people
will desist from buying foreign goods.

6. Quotas: This is a discriminatory measure in that a limit is set to the quantity of some goods imported
from certain countries.

7. Tax exemption: The government may decide to give outright help to home manufacturers in terms
of exempting them from taxes.

b. The following are the measures government may take to promote export;

1. Subsidies: This is a payment made by the government to producers in order to reduce the cost of
production and make their goods more competitive with foreign ones.

2. Organizing local or international trade fares where homemade goods could be displayed to attract
foreign marketers.

3. Removal of excise duties on goods meant for export over a period.

4. Giving encouragement to exporters to keep their foreign earnings for use in the country.

5. Granting of loans to exporters to aid them in financing their export trade.

6. Government should carve out industrial areas that are meant for producing goods that are for
export.

7. Making available statistical dates as well as trading opportunities to those involved in export trade.

8. Establishing export credits guarantee departments that will play the role insurance companies that
take on such risks not covered by commercial insurance companies, e.g. political and war risks.

NABTEB Commerce Questions: QUESTION 6

a. State the various modes of transportation in Nigeria
b. Explain five factors that must be considered in selecting a mode of transportation:

ANSWER:
a. The various means of transportation are;
1. Road
2. Rail
3. Air
4. Sea or water
5. Containerization
6. Pipelines
7. Beast of burden
8. Porterage
9. Parcel post.

b. The factors that must be considered in selecting a mode of transportation are;

1. Distance/Location: The location where the goods are needed will help to determine the choice of
Transport. Where the place is far, air may be chosen.

2. Unit volume of the goods: Valuable goods like minerals need to be carried as quickly as possible
to avoid pilfering.

3. Destination: There are such places that have no other means of transport than by road.

4. Available means: The means of transport available where the goods are located is what will be
used.

5. The nature of the goods: perishable items need to be carried quickly to minimize spoilage while
bulky goods are carried by rail or road.

6. The weight of goods is equally considered

7. Customer preference: The choice of the customer will also influence the choice of transport.

8. Safety of the goods: A means of transport that will ensure safe movement of goods is also a
factor to consider

9. Volume or quantity of goods also determine the choice of transport for a given commodity

10. Cost of transport is also considered because a trader will prefer a cheaper means of transport

11. Timeliness of goods: Fast means of transport is needed to convey goods needed urgently

NABTEB Commerce Questions: QUESTION 7

a. Explain consumer protection.
b. state four organizations involved in consumer protection.
c. explain the functions of these organizations.

ANSWER:

a. Consumer protection consists of the process adopted by the government, its agent as well as
private institutions to avoid the exploitation and cheating of the consumers as they purchase
goods from producers

b. The organizations involved in consumer protection are

1. Nigerian standard organization (NSO)
2. Manufacturer/producer association
3. Rent tribunals
4. Price control board
5. Professional board, e.g. Nigerian medical association(NMA), Nigeria bar association, e.t.c
6. Environmental protection agencies, e.g. task force on environmental sanitation
7. National Agencies for Food and Drug Administration Control(NAFDAC).

c. The functions of these organizations are:

1. To eliminate hoarding of the goods by producers and middlemen.
2. To stamp out profiteering by businessmen
3. To prevent the dumping of substandard and unsafe goods on the consumers
4. To protect the consumers from misleading or untruthful information
5. To educate the consumers about the rights and obligations of the producers or sellers
6. They help consumers to eliminate the assessment of choice problems in the market.
7. They ensure that producers’ honour warranties or guarantees.

DISCLAIMER! These are not real NABTEB Basic Electricity questions but likely repeated questions over the years to help candidates understand the nature of their examinations. Ensure to note every question provided on this page.

If you need us to help you with more updated information at the right time about NABTEB Basic Electricity Questions 2022, kindly provide us with your phone number and email address in the comment box below.

Also, ask questions pertaining to this guide.                               

What’s your take on this? We believe this article was interesting right. If yes, use our share button below to inform–friends and relations via Facebook or Twitter.

CSN Team

APPLY NOW 👉 WORK IN CANADA WITH FREE SPONSORSHIP!


 

    Hey You!

    Don't Miss These Opportunity! Enter Your Details Below!


    => FOLLOW US ON INSTAGRAM | FACEBOOK & TWITTER FOR LATEST UPDATE

    Tags: , , , , , , , , , ,

    Comments are closed.

    %d bloggers like this: