WAEC Commerce 2022 past questions

Checked by the Skolra question team · Last updated 23 October 2026

Ten questions from the 2022 WAEC Commerce paper, with answers and explanations. We hold 44 questions from this paper, and the Skolra app has all of them.

WAEC Commerce 2022 questions and answers

1. 1.The number of subordinates a head of department supervises is
   1. A
      Span of control
      Correct
   2. B
      Delegation of authority
   3. C
      Chain of command
   4. D
      Line of authority
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   Answer: A

   In management and organisation, the number of subordinates (workers) that a head of department or supervisor can effectively direct and control is called the span of control.

   So the correct term for "the number of subordinates a head of department supervises" is the span of control.

2. 2.The marketing concept emphasizes
   1. A
      Maximizing output and cutting production cost to the barest minimum
   2. B
      Identifying and satisfying customers' needs and wants profitably
      Correct
   3. C
      Aggressive selling and promotion to move already-made goods
   4. D
      Continuous improvement of product quality and design features
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   Answer: B

   The marketing concept is a business philosophy which states that a firm achieves its own goals (profit, growth, survival) by first finding out what customers need and want, and then satisfying those needs and wants better than competitors do. So the correct emphasis is identifying and satisfying customers' needs and wants profitably — the business starts from the customer, not from the factory or the warehouse.

3. 3.A group of sellerswho pool their resources to buy goods in large quantities and sell to its members is a
   1. A
      Marketing co-operative society
   2. B
      Consumers' co-operative society
      Correct
   3. C
      Credit and thrift co-operative society
   4. D
      Producers' co-operative society
   Show answerHide answer

   Answer: B

   The group described pools its members' resources to buy goods in large quantities (at a cheaper bulk price) and then sells to its own members. This is the exact definition of a consumers' co-operative society — ordinary people coming together as buyers so they can purchase in bulk directly from manufacturers/wholesalers and resell to themselves at a lower price, cutting out the middleman's profit.

4. 4.A requirement for an offer to be valid is that it should be
   1. A
      made in writing before it can bind the parties
   2. B
      addressed only to one specific, named person
   3. C
      communicated to the person to whom it is made
      Correct
   4. D
      impossible to withdraw once it has been made
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   Answer: C

   In the law of contract (as taught under Commerce), an offer is a definite promise to be bound on specific terms, and one of the basic requirements for a valid offer is that it must be communicated to the offeree — the person cannot agree to something they do not know exists. Until the offeree is aware of the offer, there is nothing for them to accept.

   So the correct requirement is that the offer must be communicated to the offeree.

5. 5.In a carpentry workshop of three employees, one is responsible for cutting the wood, another for fixing and a third for polishing and spraying the furniture. (a) Identify the term that describes the production process the workshop uses. (b)(i) State five advantages of the production process identified in 1(a) to the workshop. (ii) State four disadvantages of the production process identified in 1(a) to the workshop.
   1. A
      Mass production
   2. B
      Batch production
   3. C
      Division of labour
      Correct
   4. D
      Unit (job) production
   Show answerHide answer

   Answer: C

   Division of labour is correct. In this workshop, the single task of making furniture has been broken down into separate stages — cutting the wood, fixing/assembling, and polishing/spraying — and each employee specialises in just one stage rather than one person doing the whole job alone. This splitting of work into specialised parts performed by different workers is exactly what "division of labour" means in Commerce.

6. 6.A disadvantage of privatization is
   1. A
      It improves the quality of goods and services produced
   2. B
      It increases government revenue from the enterprise
   3. C
      It leads to retrenchment of workers in the privatized enterprise
      Correct
   4. D
      It increases competition among firms in the economy
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   Answer: C

   Privatization is the transfer of ownership and control of a business enterprise from government to private individuals or organizations.

7. 7.Which of the following is not a function of management?
   1. A
      Advertising
      Correct
   2. B
      Organizing
   3. C
      Controlling
   4. D
      Planning
   Show answerHide answer

   Answer: A

   The core functions of management (as taught in commerce) are planning, organizing, staffing/directing, coordinating and controlling. These are the activities every manager performs to achieve organisational goals.

8. 8.The agreement which led to the formation of the West African Clearing House was signed in
   1. A
      1973
   2. B
      1979
   3. C
      1975
      Correct
   4. D
      1976
   Show answerHide answer

   Answer: C

   1975 is correct. The agreement to establish the West African Clearing House (WACH) was signed by the Governors of the Central Banks of West African states in Lagos, Nigeria, in 1975. WACH was created to promote the use of West African currencies in settling trade among member states, reducing dependence on hard foreign currencies for intra-regional trade.

9. 9.When a share with a nominal value of N50 is quoted at N70,it is being sold
   1. A
      at a loss
   2. B
      at par
   3. C
      at a discount
   4. D
      at a premium
      Correct
   Show answerHide answer

   Answer: D

   A share's nominal value (also called par value) is the fixed value printed on the share certificate when it is issued. Here that is ₦50. The quoted price is what the share is actually trading for on the market — here, ₦70.

   Comparing the two tells us how the share is being sold:

   • Quoted price = nominal value → sold at par
   • Quoted price higher than nominal value → sold at a premium
   • Quoted price lower than nominal value → sold at a discount

10. 10.The purpose of commercialization is to
    1. A
       To bring privately owned businesses under government ownership and management
    2. B
       To make government-owned enterprises operate profitably and reduce their dependence on government subvention
       Correct
    3. C
       To transfer the ownership of government-owned enterprises into the hands of private investors
    4. D
       To give government full and direct control over the day-to-day running of public corporations
    Show answerHide answer

    Answer: B

    Commercialization is the reorganization of government-owned enterprises (parastatals) so that they are run like ordinary profit-making businesses, while ownership remains with government. The whole point is to stop these enterprises from being a drain on the public purse: they are expected to charge economic prices, cut waste, and generate enough revenue to sustain themselves instead of relying on yearly government subvention. So the purpose of commercialization is that government enterprises should operate profitably and become less dependent on government funding.

The questions come from past JAMB, WAEC and NECO papers. We use software to help write the answer options and explanations, and every answer is checked twice before it goes on the site. How we check

Spotted a wrong answer? Tell us from the app or on the contact page and we check it.

Practise all 44 questions we hold from the 2022 paper, on a timed CBT screen

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