WAEC 2025 WAEC COMMERCE ANSWERS

May 6, 2025 Mr Goodluck Uncategorized 2

WAEC COMMERCE ANSWERS

COMMERCE OBJECTIVES

01-10: CACCACCCCB

11-20: DABDBACDDB

21-30: BACBBCCBDC

31-40: ACBCDADACC

41-50: CBAADBCDDC

NUMBER ONE

(1a)
Manufacturing is the process of producing goods in large quantities using machines and labor in factories. It usually involves a repetitive process to make identical products, such as clothes, cars, or furniture.
While
Construction is the process of building physical structures like roads, bridges, and buildings on-site. Each project is often unique and depends on the specific location and design.

(1b) (Pick Four)
(i) It enables businesses to reach customers across the world, removing geographical barriers.
(ii) It allows customers to shop at any time because online stores are always open.
(iii) Businesses can save money because they don’t need to rent or maintain a physical shop.
(iv) Buying and paying online is faster than traditional methods.
(v) It allows companies to target customers with personalized ads and recommendations.
(vi) Businesses can showcase a large variety of products online, even those not available in-store.
(vii) Inventory systems online can track and manage stock more easily.
(viii) Customers can leave reviews and feedback, which help improve products and services.

(1c) (Pick Four)
(i) Commerce helps in the buying and selling of goods and services.
(ii) It ensures goods are transported from factories to shops and consumers.
(iii) Goods are stored safely in warehouses until needed.
(iv) Banks provide loans and other financial services to help businesses grow.
(v) Insurance protects businesses from risks like fire or theft.
(vi) Advertising helps inform people about products and attracts buyers.
(vii) Communication makes it easier for businesses to exchange information quickly.
(viii) Finance is provided to support trade and production.

NUMBER TWO

(2ai)
A cartel is when businesses that should be competing make an agreement to fix prices or limit how much they produce, to avoid competition.
While
A consortium is a group of independent businesses that come together temporarily to work on a big project, like building an airport, but they don’t stop competing in other areas.

(2aii)
A holding company owns most of the shares in other companies, controlling their decisions.
While
A subsidiary company is one that is controlled because a holding company owns most of its shares.

(2bi) (Pick Four)
(i) Money saved by the owners (personal savings).
(ii) Loans from banks.
(iii) Getting goods now and paying later (trade credit).
(iv) Using profits kept from past years (retained earnings).
(v) Getting equipment by paying in parts (hire purchase).
(vi) Leasing machines or property.
(vii) Money from investors (venture capital).
(viii) Grants from the government.

(2bii) (Pick Four)
(i) Saul may fear losing full control over his business.
(ii) He might worry that profits will not be shared fairly.
(iii) He may fear disagreements and clashes with Abu.
(iv) He may be unsure about how financially stable the new business will be.
(v) Saul could be worried about becoming personally responsible for debts.
(vi) He may think the business culture he built will change.
(vii) Saul may not want to share decision-making power.
(viii) He might find the legal process and paperwork of merging too difficult.

NUMBER THREE

(3a)
Export Promotion Council.

(3b) (Pick Four)
(i) It researches foreign markets to find where local products can sell.
(ii) It organizes fairs and ads to promote goods overseas.
(iii) It gives advice to help businesses start exporting.
(iv) It trains business owners on export rules and procedures.
(v) It helps improve product quality to meet foreign standards.
(vi) It joins trade talks to help local exporters get better deals.
(vii) It connects sellers to buyers in other countries.
(viii) It advises the government on how to help exporters.

(3c) (Pick Five)
(i) To sell more goods by reaching more people abroad.
(ii) To earn foreign money, which helps the country’s economy.
(iii) To get materials and goods that are not available locally.
(iv) To focus on making goods they are best at and trade for others.
(v) To create jobs in factories that make goods for export.
(vi) To bring in more goods and improve people’s lives.
(vii) To get new ideas and technologies from other countries.
(viii) To build stronger economic and political ties with other nations.

NUMBER FOUR

(4a) (Pick Five)
(i) They know their customers well and give personal service.
(ii) They can quickly change what they sell if needed.
(iii) They have fewer expenses than big businesses.
(iv) They are located close to where people live.
(v) They sell special items that big shops might not have.
(vi) The owner can make fast decisions.
(vii) They are supported by the local community.

(4b) (Pick Five)
(i) Encourage more goods to be sold abroad.
(ii) Make goods locally instead of importing them.
(iii) Lower the value of the country’s money so exports become cheaper.
(iv) Attract money and businesses from outside the country.
(v) Develop tourism to earn foreign money.
(vi) Put limits or taxes on imported goods.
(vii) Get financial help from other countries to balance trade.

NUMBER FIVE

(5a)
Seasonal discount.

(5b) (Pick Four)
(i) To boost sales when demand is low.
(ii) To keep the factory running and avoid layoffs.
(iii) To sell old stock before new stock arrives.
(iv) To get more money coming in during slow times.
(v) To attract new buyers and keep current ones happy.
(vi) To compete with other businesses.

(5c) (Pick Five)
(i) Collects taxes on imported/exported goods.
(ii) Enforces trade laws.
(iii) Stops illegal or harmful goods from entering.
(iv) Helps smooth and legal international trade.
(v) Keeps records of trade data.
(vi) Protects local businesses with tariffs.

NUMBER SIX

(6a) (Pick Five)
(i) Commercial banks
(ii) Central bank
(iii) Development banks
(iv) Merchant banks
(v) Mortgage banks
(vi) Microfinance banks
(vii) Agricultural banks

(6b) (Pick Five)
(i) Sets a rule on how much money banks must keep aside (reserves).
(ii) Buys or sells government securities to control money flow.
(iii) Changes the interest rate it charges banks to influence lending.
(iv) Licenses and supervises banks to make sure they follow rules.
(v) Limits how much credit banks can give.
(vi) Persuades banks to act responsibly without strict rules.

NUMBER SEVEN

(7a)
Marketing means finding out what customers need, making products to meet those needs, and selling them in a way that makes profit.

(7b) (Pick Three)
(i) Researching to understand the market.
(ii) Creating new products.
(iii) Advertising and promoting products.
(iv) Setting the right price.
(v) Getting products to customers.
(vi) Keeping good relationships with customers.

(7ci)
Customer service: Helping customers before and after buying, like answering questions and fixing complaints.

(7cii)
Sales promotion: Giving special deals like discounts to get more people to buy.

(7ciii)
Exhibition: An event where businesses show their products to attract buyers.

(7civ)
After-sales service: Help given after buying, like repairs and maintenance.

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