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WAEC Commerce 2020 Question 1

Question 1

Introduction to Commerce

Commerce is defined as

  1. A.buying and selling of goods and services only.
  2. B.all activities in the distribution and exchange of goods and services.
  3. C.all activities involved in the production of goods and services.
  4. D.transporting and warehousing of goods only.
Show the answer and explanation

Answer: B (all activities in the distribution and exchange of goods and services.)

Explanation

Commerce covers trade and all the aids to trade that help distribute and exchange goods and services.