WAEC GCE Commerce Practice Questions and Answers 2025 (Private Candidates)

Many private candidates preparing for the WAEC GCE Commerce 2025 exam are searching for reliable resources like WAEC GCE Commerce 2025 practice questions and answers. This guide provides complete WAEC GCE Commerce questions and answers, covering both theory and objective questions tailored for WAEC GCE 2025 private candidates Commerce. By practicing with these verified WAEC GCE Commerce practice questions, students can boost their confidence and improve their exam performance

Commerce is a key subject in the West African Examinations Council (WAEC) General Certificate Examination (GCE) for private candidates. It focuses on trade, business activities, banking, insurance, and entrepreneurship. To help students prepare for WAEC GCE Commerce 2025, this guide presents verified practice questions with answers.

All content is original and crafted to meet Google AdSense’s policies, avoiding plagiarism and copyrighted material.

See Also; WAEC GCE Mathematics Practice Questions and Answers 2025

Section A: WAEC GCE Commerce 2025 Objective Questions (2025 Practice)

Choose the correct option for each question:

1. Which of the following is not a function of commerce?
A. Distribution of goods
B. Facilitation of exchange
C. Manufacturing of goods
D. Provision of services
Answer: C

Explanation:
Manufacturing is part of industry, not commerce.

2. The act of buying and selling goods and services is referred to as:
A. Trade
B. Banking
C. Insurance
D. Advertising
Answer: A

3. The payment made by an insured person to an insurance company is called:
A. Benefit
B. Premium
C. Bonus
D. Dividend
Answer: B

4. Which of the following is a characteristic of a partnership?
A. Unlimited liability
B. Ownership by one person
C. Shareholders’ meeting
D. Issue of shares
Answer: A

5. A retailer buys goods from:
A. Producer
B. Manufacturer
C. Wholesaler
D. Customer
Answer: C

6. Which of these is an advantage of advertising?
A. Reduces sales
B. Increases awareness
C. Discourages competition
D. Creates monopoly
Answer: B

7. The central bank acts as a:
A. Banker to commercial banks
B. Bank to individuals
C. Retail bank
D. Private investor
Answer: A

8. An example of a direct service is:
A. Tailoring
B. Teaching
C. Banking
D. Insurance
Answer: B

9. Which of the following documents is sent before goods are dispatched?
A. Invoice
B. Delivery note
C. Proforma invoice
D. Credit note
Answer: C

10. The right of an individual to take part in business without restriction is called:
A. Freedom of ownership
B. Freedom of association
C. Free entry
D. Freedom of choice
Answer: C

Section B: WAEC GCE Commerce Theory Questions (2025 Practice)

Answer any two questions. Show your workings and explanations clearly.

1. Explain five functions of commerce.

Answer:

1. Distribution of Goods: Commerce ensures that goods move from producers to consumers through channels like wholesalers and retailers.

2. Facilitation of Exchange: Through trade, commerce allows for the buying and selling of goods and services.

3. Storage of Goods: Warehousing ensures goods are stored safely until they are needed.

4. Transportation: Moves goods from one place to another, reducing geographical barriers.

5. Risk Bearing: Through insurance, commerce protects businesses against unforeseen losses.

2. Distinguish between visible and invisible trade, with two examples each.

Answer:

• Visible Trade: Involves the exchange of physical goods that can be touched or seen.
  Examples: Exporting cocoa, Importing cars.

• Invisible Trade: Involves the exchange of services rather than goods.
  Examples: Banking services, Tourism.

3. List and explain any four types of partners in a partnership business.

Answer:

1. Active Partner: Participates actively in the day-to-day running of the business.

2. Sleeping Partner: Provides capital but does not participate in management.

3. Nominal Partner: Lends their name to the business but does not invest money or take part in management.

4. Limited Partner: Liability is limited to the amount contributed; does not take part in daily management.

4. What are four advantages of public corporations?

Answer:

1. Provides essential services to the public.

2. Large capital base since government funds it.

3. No profit motive ensures public interest is prioritized.

4. Employment generation.

Key Commerce Concepts for WAEC GCE

• Trade: Buying and selling of goods and services.

• Banking: Managing financial transactions and savings.

• Insurance: Protection against financial loss.

• Advertising: Promoting goods and services.

• Warehousing: Safe storage of goods.

• Transport: Moving goods and people.

Sample WAEC GCE Commerce Essay Question

Write a short essay on the importance of commerce in national development.

Sample Answer (Summary):

See Also; https://registration.waecdirect.org/

Commerce plays a vital role in national development by promoting trade, creating employment opportunities, and facilitating the movement of goods and services. It enhances productivity by ensuring efficient distribution networks and encourages innovation through competition. Commerce also contributes to government revenue via taxation and fosters international relationships through trade agreements.

WAEC GCE Commerce Study Tips

1. Review past questions regularly.

2. Understand key terms like credit, debit, liability, and asset.

3. Practice writing short essays on business topics.

4. Study commerce diagrams like distribution chains.

5. Time yourself during practice to match real exam conditions.

Disclaimer

This content is intended strictly for educational and revision purposes. It complies with Google AdSense content policies and WAEC guidelines. It does not promote exam malpractice or contain leaked questions. Students are encouraged to use this material as a study aid only.