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2020/2021 WAEC/NECO Answers: 2020 WAEC GCE commerce answers

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This is actually the 2019 WAEC GCE commerce answers Answers as questions sent to our subscribers on WHATSAPP, if you are looking for 2020 WAEC/NECO Answers midnight before the exam, try contacting us.

G(6a)
(i)To enhance the agricultural potentials of the lake chad
(ii)to provide water for rural and urban areas
(iii)to undertake scheme to control erosion and flood of the border areas
(iv)to control the pollution of the lake
(v)to ensure economic cooperation and development among its members

(6b)
(i) Ideological differences creating tension between some member states.
(ii) Divided loyalty and commitment,as a result of participation in other organizations by member states.
(iii)Suspicion abounds among member states .
(iv)Poor transport and communication network.
(v)Border conflicts among member states and political Instability

(3a)
Commerce: is the process which  relates to "the exchange of goods and services, especially on a large scale." It includes legal, economic, political, social, cultural and technological systems that operate in a country or in international trade.
(3aii)
(i)faster buying and selling procedure
(ii)more reach to customers
(iii)low operational costs
(iv)better quality of services

(3b)
(i)political instability
(ii)technological environment
(iii)social environment
(iv)economic environment
(v)legal environment

5a)
(i) There should be a partnership deed
(ii) There should be equal contributions by the partners
(iii) The partners should agree on a mutual business
(iv) The business should be well-known by the partners

(5b)
(i) Liability: General partners are 100% liable for the actions of other partners. If one general partner makes a mistake, all general partners are liable for that mistake and any accompanying debt or other obligations that go along with that mistake.
(ii) Raising capital: It is difficult to raise capital in general partnerships since all general partners have unlimited liability. Choosing an LP or LLP may be more attractive to investors, as it allows a limited partner to invest without taking on any liability. As stated above, however, there are restrictions to LPs and LLPs that must be taken into consideration. Additionally, LPs and LLPs are more expensive to form than a general partnership.
(iii) Poor feasibility study: Not all business that can survive without overcastting and knowing the future of that business that is how it can survived and whether it is gainful
(iv) Lack of lay down rules: Most partnership business do not have a laydown rule as a guide to the business and ownership and most of the time, the terms of agreement which will lead to quarrying and winding up.
(v) Inability to differentiate between business and personal affair: This happen personally where the partners take up the business property as their personal property
(vi) Negligence on the part of some partners: Being a partner means sharing profits and sharing decisions with other partners. Most of their workers because of the numerous engagements easily show a non challant attitude toward define responsibilities.

4b.
1Finding the Best Distribution Channels
Distribution is about deciding how you'll get the goods or services you want to s ell to the people who want to buy them. Having an idea for a product is great, but if you aren't able to get that product to the customers you aren't going to make money. Distribution can be as easy as setting up shop in the part of a city where your target customers are – but in an increasingly interconnected world, distribution more often than not now means that you'll need to take your products or services to the customers.

2. Financing an Enterprise
It takes money to make money. As a business owner, an important function of marketing a product is finding the money through investments, loans, or your personal capital to finance the creation and advertising of your goods or services.

3. Deep Market Research
Market research is about gathering information concerning your target customers. Who are the people you want to sell to? Why should they buy from you as opposed to a rival business? Answering these questions requires that you do some on-the-ground observation of the market trends and competing products.

4. Setting Prices
Setting the correct price for your product or service can be a challenge. If you price it too high, you might lose customers – but if you price it too low you might be robbing yourself of profits. The "right" price normally comes through trial and error and doing some market research.

2a)
(i) shopping mall:- spacious, parking facilities
(ii) mail order business:- Sale by post, Non-store retailing
(iii)

2b)
(i) bilateral agreement:- An exchange agreement between two nations or trading groups that gives each party favored trade status pertaining to certain goods obtained from the signatories.
(ii) Multilateral agreements are commerce treaties between three or more nations. The agreements reduce tariffs and make it easier for businesses to import and export. Since they are among many countries, they are difficult to negotiate.
(iii) tariff is a tax imposed by a government on goods and services imported from other countries that serves to increase the price and make imports less desirable, or at least less competitive, versus domestic goods and services.
(iv) letter of hypothecation:- a written agreement, which authorizes a bank or lender to repossess and sell the pledged item in case of a default. In international trade, a letter of hypothecation enables an accepting bank to sell the shipment in case of the non-acceptance or non-payment of the associated bill of exchange by the buyer.



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Frequently Asked Qestions and Answers

Is my WAEC Result good enough to Study Abroad Nigerian Students

Can I use Waec to study abroad?

Students with good WAEC result can enroll into universities abroad and most institutions in abroad offers admissions to students with WAEC results as long as they agree to undertake a foundation course.
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How can I prepare for Waec?

Those are the guides you need to pass WAEC 2020 examination....Below are the tips to pass WAEC Examination excellently:Don't be afraid of WAEC.Be zealous to pass.Start reading as early as possible.Study voraciously.Join a WAEC study group.Study with WAEC syllabus.Work on your handwriting.Study past WAEC questions.More items...

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Does Neco expire?

Similar to WAEC, your National Examination Council (NECO) result (certificate) is valid for life. It doesn't have any expiry date. That is, for as long as you live, you can use your NECO result to gain admission into the university and seek employment where applicable.
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You can use WAEC GCE, NECO GCE, NABTEB GCE to gain admission into UNILAG. And any possible combination is acceptable by the university.
You can use WAEC GCE, NECO GCE, NABTEB GCE to gain admission into UNILAG. And any possible combination is acceptable by the university.Feb 5, 2020

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Studying is a great way to start a new career. Perhaps you think you're 'too old' to start university, but it's never too late to study. An increasing number of students aged over 25 are opting for university courses because they're unsatisfied with their job or want a new career path.Jun 7, 2019

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Is Neco harder than Waec?

NECO seems less difficult compared to WAEC but not also easy to make A's.
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The average salaries for West African Examinations Council (WAEC) is 267,725 Naira. This data is collated by 5 employees from West African Examinations Council (WAEC).
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What is the equivalent of Waec in UK?

Nearly all Universities in the UK require GCE A level or equivalent for admission into undergraduate degrees. In addition to A levels, you should also have GCSEs which I believe are O level equivalents (also WAEC in West Africa).
Nearly all Universities in the UK require GCE A level or equivalent for admission into undergraduate degrees. In addition to A levels, you should also have GCSEs which I believe are O level equivalents (also WAEC in West Africa).

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Does Waec certificate carry date of birth?

WAEC to stop amendment on certificates in 2017. The West African Examinations Council says it will stop amending the date of birth and other entries on the certificate of candidates from January 1, 2017.

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NECO registration form 2020 price is Eleven Thousand , Three Hundred And Fifty Naira Only (N11,350) Nine Thousand, Eight Hundred And Fifty Naira Only (N9,850) following the reduction of JAMB UTME form price and NECO form price in 2018.
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How many times is Neco written in a year?

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How many subjects are required for Waec?

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Is d7 fail or pass?

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What is the difference between Waec and Wassce?

The West Africa Examination Council (WAEC) is the governing body conducting the WASSCE.
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Does Canada accept NECO?

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Reasons Why NECO Result is Accepted for Study in Canada. You sure read that correctly, NECO result is accepted for study in Canada if you did't know. And if you already know this, you definitely would have been surprised when you read the caption since NECO is a Nigerian examination.Jul 31, 2019

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Currently, WAEC scratch card is N700 (seven hundred naira). This price has been officially confirmed by the West African Examination Council (WAEC) on social media. According to WAEC, ?the cost of electronic pin/voucher (Now scratch card) for checking results is 700 Naira only?.

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WAEC result is not valid for 10 years ? waec registrar. ... the registrar clearly stated that Waec result is valid for life. Waec result does not expire in as much as the owner is still alive, the result can be used .
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How much is Waec 2020?

How to Apply for the 2020 WAEC GCE. Candidates arc expected to pay a registration fee of Thirteen Thousand, Nine Hundred and Fifty Naira (N13,950) only, at branches of any of the following banks or any accredited agent and obtain the Registration PIN and Information VCD: Access Bank Plc.
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Can I collect my Waec certificate from WAEC office?

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WAEC grading system 2020-2021 ? Legit.ng

Is c6 a good grade?

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Six years of elementary school is followed by six years of secondary school. Junior Secondary school consists of JSS1, JSS2 and JSS3 which are equivalent to the 7th, 8th and 9th Grade while the Senior Secondary school consists of SS I, SS 2, and SS 3 which is equivalent to the 10th, 11th and 12th Grade.
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Is my WAEC Result good enough to Study Abroad Nigerian Students

Can I use my Waec result to study abroad?

Students with good WAEC result can enroll into universities abroad and most institutions in abroad offers admissions to students with WAEC results as long as they agree to undertake a foundation course.
Students with good WAEC result can enroll into universities abroad and most institutions in abroad offers admissions to students with WAEC results as long as they agree to undertake a foundation course.Nov 21, 2017

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It is no news that many schools in Nigeria (especially private secondary schools) charge up to 50,000 naira and even above for waec registration in their respective centres. The normal price for WAEC SSCE Enrollment fee fixed by waec is within N13,950.
It is no news that many schools in Nigeria (especially private secondary schools) charge up to 50,000 naira and even above for waec registration in their respective centres. The normal price for WAEC SSCE Enrollment fee fixed by waec is within N13,950.
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