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WAEC Commerce 1994 Question 1

Question 1

Introduction to Commerce

Which of the following is not true of commerce?

  1. A.It is part of production
  2. B.it creates time and place utility
  3. C.it is the life blood of a nation's economic activities
  4. D.Commercial activities begin after the goods are produced
  5. E.It makes goods and services available when and where needed
Show the answer and explanation

Answer: D (Commercial activities begin after the goods are produced)

Explanation

Commercial services such as banking, transport and insurance are needed before and during production, not only after it.