JAMB Commerce 2022 Objective — Question 1

Question 1 of 40 from the Joint Admissions and Matriculation Board (JAMB) Commerce 2022 Objective paper, with the correct answer and a full explanation.

1. One of the following defines commerce

A. (A) man's production, distribution and consumption of goods and services
B. (B) man's utilization of the resources in his physical environment
C. (C) conversion of raw materials into finished goods
D. (D) man's buying, selling and distributing activitiesCorrect

Explanation

Commerce, basically, refers to all activities of buying, selling and distribution of goods and services within and outside a geographical location.

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