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NECO Commerce 2020 Objective and Theory Questions and Answers – Latest Updates

Filed in Exam, NECO News by on June 24, 2020

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NECO Commerce 2020 Objective and Theory Questions and Answers – Latest Updates.

Commerce NECO Questions 2020: Commerce NECO Expo Questions is out now on our website. In this article, I will be showing you past NECO Commerce random repeated questions for free.

You will also understand how NECO Commerce are set and many more examination details. All you need to do is to stay focus and follow this guide.

NECO Commerce Questions and Answers 2020

Keep accessing this page as update will be made in a jiffy

1-Span of control :can simply be defined as the area of activity and number of functions, people, or things for which an individual or organization is responsible.

1b)
Organizational size.
Workforce skill level.
Organizational culture.
Manager’s responsibilities.

Some key factors to review when determining the appropriate span of control within an organization include the following:

Organizational size.:
Large organizations tend have a narrow span of control, whereas smaller organizations often have a wider span of control. This difference is usually due to the costs involved with more managers and the financial resources available to an organization. Communication may be slower with narrow spans if it must pass through several of management.

Workforce skill level.:
The complexity or simplicity of the tasks performed by the employees will affect the number of desirable direct reports. Generally, routine tasks involving repetition will require less supervisory control of a manager, allowing a wider span of control, whereas complex tasks or dynamic workplace conditions may be best suited for a narrower span of control, where managers can provide more individualized attention.

Organizational culture.: Organizations need to determine the desired culture when designing their span of control. Flexible workplaces usually have a wider span of control because employees are given more autonomy and flexibility in the production of their work.

Manager’s responsibilities.: Review whether the organizational expectations allow the managers to be effective with the number of direct reports they have, especially related to individual responsibilities, departmental planning and training. For instance, executives often have fewer direct reports than other managers in the organization.

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3a)
– Trading
– Insurance
– Banking
– Advertistment
– Transportation
– Warehousing
– Tourism

3b)
– Provision of employment opportunities : It offers jobs to a large number of unemployed like traders , bankers, insurance brokers, tourist etc
– Exchange of goods and services : It brings about the exchange of goods and services
– Linkage of buyers and sellers : It helps to bring together the sellers and buyers through communication without physical contact
– Raising capital : It helps in the country to raise capital for capital projects and other financial institutions
– Unity among Nigerians: It fosters unity among the Nigerians and other Nations as they engage in trading activities
– Creation of wealth for Nigerians : Commerce helps to create wealth for Nigerians and other Nations as duties are charged on goods and services either exported or imported
i)both international trade and internal trade improve the standard of living
ii)they both create employment opportunity
iii)they both use insurance provision
iv)they both uses warehouses
v)they both uses currency

2b)
TABULATE INTERNATIONAL TRADE
i)government policy is restricted
ii)trade bamer exised
iii)foreign exchange is used as the term of payment
iv)there is big problem of language difference
v)there is difficultyin the balance of payment trade

TABLULATE INTERNAL TRADE
i)it is free from government policy
ii)no trade bamer exist
iii)local currency is the term of payment
iv)there is a little problem of language difference
v)there is no problem of balance of payment trade

7a
(i)they have the right to choose between alternatives
(ii)consumers have the right to good things of life
(iii)they have the right to safety
(iv)the consumers also have the right to be heard
(v)they have right to be informed

(7b)
(i)formation of consumer associations to test whether items are of good quality or not and to make recommedations
(ii)price control measures should be put in place to curb any arbitrary price increases.
(iii)Formation of standard board or quality of every item before allowing its introduction to the market
(iv)there should be an efficient hire purchase act to prevent repossession after 2/3 payment of the purchasing price.
(v)Advertising organisation/board should be setup to censor all adverts before shown on the screens.

(8)
-pricing
-transportation
-storage
-exchange
-financing
(i)pricing:marketing,assisting in fixing price at a level reasonable enogh to give profit to the company.
(ii)transportation:this covers involvement of goods from where they are produced to the point where they are required.
(iii)storage:this make it possible for goods to be produced ahead of demand so that they can be available when needed
(iv)exchange:this cover the purchase of raw materials and goods from so may sources and transfer of ownership of such .
(v)financing:this cover the provision of funds throughtout the period of production to the point of selling through loans and credit facilities

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DISCLAIMER! These are not real NECO Commerce questions but likely repeated questions over the years to help candidate understand the nature of their examinations. Ensure to take note of every questions provided on this page.

If you need us to help you with updated questions and answers at the right time about NECO Commerce Examination 2020, kindly provide us your phone number and email address in the comment box below. Also feel free to ask any question pertaining to this guide.

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Comments (12)

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