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WAEC Commerce 2001 Question 1

Question 1

Introduction to Commerce

Which of the following best describes commerce?

  1. A.Buying and selling of goods and services
  2. B.Buying, selling and distribution of goods and services
  3. C.Preserving goods until they are needed
  4. D.Making goods and services known to people
Show the answer and explanation

Answer: B (Buying, selling and distribution of goods and services)

Explanation

Commerce covers buying and selling (trade) and all the activities that distribute goods to consumers.