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"Trade Associations" question number distribution across years
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WAEC questions for "Commerce :: Trade Associations"
Q1
Which of the following requires a certificate of trading to start business?
A
Public corporation
B
Public limited company
C
Cooperative society
D
Private limited company
E
Q2

The main aim of credit and thrift societies is to

A

settle disputes among members.

B

educate their members.

C

secure loans for members.

D

encourage savings among members.

E
Q3
Which of the following is a duty of the Employers Association?
A
Procuring raw materials at regular interval
B
Establishing a uniform wage scale
C
Negotiating with the government on sites for firms.
D
Discharging workers when production is slow.+
E
Q4
When a number of thrift societies come together and are registered, they become a
A
holding company
B
credit union
C
trade union
D
consumer association
E
Q5
A voluntary body formed by people in the same line of business is known as
A
trade union.
B
trade association.
C
cartel.
D
employers' association.
E
Q6
Movement of commercial vehicles in Nigeria is controlled by the
A
Nigerian Ports Authority.
B
National Association of Road Transport workers.
C
Federal Ministry of Transport.
D
Nigerian Customs Authority.
E
Nigerian Airport Authority.
Q7

An association of small scale retailers formed to encourage bulk buying from manufacturer is known as a

A

voluntry chain

B

producer cooperative society

C

multiple store

D

department store

E

hypermarket

Q8

The agency in Nigeria which ensures that products conform to government specifications and quality control is the

A

Nigeria Labour Congress

B

Manufacturers Association of Nigeria

C

Nigerian Chamber of Commerce

D

Standards Organization of Nigeria

E

Ministry of Commerce and Industry

Q9
Which of the following assists a nigerian producer to participate in trade fairs and exhibitions abroad?
A
Nigerian Port Plc
B
Shipping and Clearing Agents
C
Federal Airports Authority of Nigeria
D
Customs and Excise Authority
E
Nigerian Export Promotion Council
Q10
An association that mobilises the savings of members and channels them to needy members is known as
A
Consumer Co-operative
B
Producer Co-operative
C
Thrift and Credit Co-operative
D
Multi-purpose Co-operative
E
Trade Union
Q11
An association of employees in an organization is called a
A
trade union
B
trade association
C
consumer association
D
credit union
E
co-operative
Q12
A voluntary body formed by people in the same line of business for the purpose of protecting their interest is called
A
business association.
B
trade association.
C
trade union.
D
chamber of commerce.
E
trading partners.
Q13
An association of firms, producing similar commodities, formed in order to keep up prices by restricting output is called
A
a chamber of commerce.
B
a customs union.
C
an amalgamation.
D
a cartel.
E
a combination
Q14
Which of the following is not a trade association?
A
Nigeria Union of Teachers.
B
Nigerian Medical Association.
C
Patent Medicine Dealers Association.
D
Motor Spare part Dealers
E
Textile Manufacturers Association
Q15
A group of firms that agree to operate a common price is a
A
cartel
B
customs union
C
price ring
D
holding company
E
subsidiary company
Q16
Which of the following is not the function of a Trade Association?
A
Conducting research
B
Providing technical information
C
Giving credit facilities
D
Settling disputes among members
E
Educating members.
Q17
Which of the following organizations aims primarily at protecting the consumer?
A
Standard Organization of Nigeria.
B
Chambers of Commerce.
C
State Security Service.
D
Nigerian Red Cross Society.
E
Manufacturers Association of Nigeria.
Q18
Group of firms cooperating to carry out giant project too large for a single firm to undertake is called a
A
merger.
B
trade association.
C
consortium.
D
cartel.
E
chamber of commerce.
Q19
An organization of people, engaged in same trade or manufacturing, formed to safeguard its interest is generally called the
A
trade union.
B
chamber of commerce.
C
trade association.
D
Nigeria Employment Consultative Assembly.
E
Nigerian Medical Association.
Q20
A number of firms producing similar goods is called
A
a consortium.
B
an industry.
C
a holding company.
D
a cartel.
E
a combine.
Q21
An association formed by tyre manufacturers to safeguard and promote their interests is known as a
A
co-operative society.
B
chamber of commerce.
C
trade union.
D
consurtium.
E
trade association.
Q22
Organizations formed mainly by traders and manufacturers to cater for the interest of their members is called
A
trade union.
B
co-operative societies.
C
trade association.
D
chamber of commerce.
E
manufacturers association.
Q23
Which of the following is primarily responsible for protecting consumers against poor quality goods?
A
Nigeria National Supply Company
B
Manufacturers Association of Nigeria
C
Industrial Arbitration Panel
D
Standards Organization of Nigeria
E
Nigeria Chambers of Commerce