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WAEC Commerce 1991 (August) Question 5

Question 5

Introduction to Commerce

Commerce developed as a result of

  1. A.speculation
  2. B.competition
  3. C.specialization
  4. D.importation
  5. E.exportation
Show the answer and explanation

Answer: C (specialization)

Explanation

When people specialise they produce more of one thing than they need and must exchange it, which gives rise to commerce.