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JAMB Commerce 1997 Question 1

Question 1

Introduction to Commerce

Which of the following are the components of commerce?
I Trading and advertising
II Warehousing and transportation
III Packaging and branding
IV Insurance and banking.

  1. A.I and II
  2. B.I and III
  3. C.I, II and IV
  4. D.II, III and IV.
Show the answer and explanation

Answer: C (I, II and IV)

Explanation

Commerce is trade plus the aids to trade (advertising, warehousing, transport, insurance, banking). Packaging and branding are part of production and marketing.