WAEC Marketing past questions and answers

Checked by the Skolra question team · Last updated 15 October 2026

WAEC Marketing: 318 objective past questions from 8 papers between 2016 and 2023, each with the answer and an explanation. Here are ten.

How the WAEC Marketing paper is set. On WAEC's 2026 timetable for private candidates, Paper 1 (objective) takes 50 minutes and Paper 2 (essay) 2 hours. If the question paper on the day gives another time, follow the question paper. The questions here are from Paper 1.

1. 1.An internal source of fund for an entrepreneur is
   1. A
      personal savings
      Correct
   2. B
      trade credit
   3. C
      bank loan
   4. D
      government grant
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   Answer: A

   An internal source of funds comes from within the entrepreneur or the business itself, such as personal savings or retained profit, unlike loans, credit or grants from outside.
2. 2.How many groups of buyer make an industrial market?
   1. A
      four
      Correct
   2. B
      five
   3. C
      three
   4. D
      two
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   Answer: A

   The industrial market is generally treated as made up of four buyer groups, namely producers, resellers, government and institutions, each buying for a different purpose.
3. 3.Which of the following factors is not a price determinant?
   1. A
      cost of production
   2. B
      consumer's favourite colour
      Correct
   3. C
      degree of competition in the market
   4. D
      level of demand and supply
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   Answer: B

   Cost of production, the level of demand and supply, and the degree of competition are all recognised determinants of price; a consumer's personal colour preference has no bearing on how a price is set.
4. 4.A company that sells its goods directly in foreign countries is engaging in
   1. A
      franchising
   2. B
      licensing
   3. C
      indirect exporting
   4. D
      direct exporting
      Correct
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   Answer: D

   Selling goods directly to buyers in foreign countries without using an intermediary in the home country is direct exporting.
5. 5.The pricing approach that is based on what rival companies are charging is_________
   1. A
      price skimming
   2. B
      competitive pricing
      Correct
   3. C
      cost-plus pricing
   4. D
      penetration pricing
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   Answer: B

   Competitive, or going-rate, pricing sets a product's price mainly by reference to what competitors are charging for similar products.
6. 6.An example of market facilitator is
   1. A
      A wholesaler
   2. B
      A retailer
   3. C
      An agent
   4. D
      A bank
      Correct
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   Answer: D

   Market facilitators such as banks provide supporting services like finance without taking title to goods, unlike wholesalers, retailers and agents who are channel members.
7. 7.Muyi sets up a poultry business at the outskirts of Oshogbo upon retirement from the civil service. Which of the following factors would have influenced the choice of the location of the poultry business?
   1. A
      availability of cheap land for expansion
      Correct
   2. B
      nearness to the state government house
   3. C
      proximity to the state high court
   4. D
      high population density of the area
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   Answer: A

   Businesses like poultry farming that need large space and generate noise or odour are usually sited on the outskirts where land is cheaper and more available, away from residential congestion.
8. 8.The offering of trial products either for free or at a nominal price to consumers is__________
   1. A
      Couponing
   2. B
      Sampling
      Correct
   3. C
      Premium offers
   4. D
      Rebates
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   Answer: B

   Sampling involves giving consumers trial amounts of a product free or at a nominal price so they can try it before buying.
9. 9.All activities involved in planning, designing and producing the container of a product is
   1. A
      grading
   2. B
      labelling
   3. C
      branding
   4. D
      packaging
      Correct
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   Answer: D

   Packaging covers all the activities of planning, designing and producing the container that holds a product, distinct from labelling, branding or grading.
10. 10.Speed is an important consideration in choosing a means of transportation where the goods are
    1. A
       heavy
    2. B
       perishable
       Correct
    3. C
       bulky
    4. D
       durable
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    Answer: B

    Perishable goods need fast transportation to reach the market before they spoil, unlike durable, heavy or bulky goods where speed is less critical.

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

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