WAEC Marketing Questions and Answers 2020/2021 (Theory and Objectives)

WAEC Marketing Questions and Answers. I will be showing you  WAEC Marketing objective and theory repeated questions for free. You will also understand how WAEC Marketing questions are set and many more examination details.

waec marketing

The West African Examination Council is an examination body that set questions yearly from areas student should, after their studies in the senior secondary school, be able to write and pass without stress.

There is no point waiting for WAEC Expo, The possibility of you having the answers is very low. The best advice is for you to study hard.

WAEC 2020/2021 Marketing Answers to Questions

Below is WAEC Marketing Questions and Answers 2020/2021 to OBJ/ESSAY

1. The performance of business activities that direct the flow of goods and services from producer to consumer is
A. distribution.
B. marketing.
C. advertising.
D. promotion.

2. Goods produced for immediate use by a household is classified as
A. industrial goods.
B. market goods.
C. durable goods.
D. consumer goods.

3. Which of the following is not a component of marketing mix?
A. Price
B. Product
C. Profit
D. Promotion

4. Which of the following is not influenced by consumer behavior?
A. Life style
B. Culture
C. Religion
D. Distribution

5. In Nigeria, the body that ensures that its members operate according to their professional ethics is the

A. SON

B. NPF

C. MAN

D. NAFDAC

6. The current highest decision-making body on privatization and commercialization of public enterprises in Nigeria is the

A National Council on Privatization

B Securities and Exchange Commission

C Nigeria Investment Promotion Commission

D Bureau of Public Enterprises

7. The principle of indemnity is NOT applicable to

A. Life assurance

B. Accident insurance

C. Fire insurance

D. Marine insurance

8. The advertising medium which combines sight and sound is the

A. Radio

B. Television

C. Print media

D. posters

Show Answer

9. The closure of the unregistered patent medicine stores is geared towards sound

A. economic environment

B. social environment

C. physical environment

D. legal environment

1O. The recommendation made by the Central Bank to the commercial banks in respect of their lending policy is known as

A. directives

B. moral suasions

C. advisory notes

D. consolidation

11. Waybill is a document driving details of goods sent by

A. public vehicle, train and air

B. train ad ship

C. ship alone

D. air alone

12. An association of the principal business concerns in an area is referred to as

A. Article of association

B. Memorandum of Association

C. Chambers of Commerce

D. Chambers of Companies

13. Commission salesman include the following except

A. Factors

B. Brokers

C. Del credere agents

D. Partners

14. Into which of the following two broad areas can trade be divided

A. home and foreign trade

B. wholesale and retail trade

C. imports and exports

D. visible and invisible trade

15. Which of the following is not true of sole proprietorship?

A. It has a separate legal entity

B. It has unlimited liability

C. It has slim chances of expansion

D. It can convert into a company

16. Commerce means

A. The creation of utility

B. Exchange of goods and services

C. Exchange and distribution of goods and services

D. Exchange and distribution of goods

17. The most common means of transport in the riverine area is

A. Bus

B. Canoe

C. Train

D. helicopter

18. Which of the following cheques could not be cashed across the counter?

A. Crossed cheque

B. Order cheque

C. Certified cheque

D. Bearer cheque

See: WAEC Government Questions and Answers

19. In marketing, any good or service that satisfies the consumer is called a

A. Place

B. Product

C. Promotion

D. price

2O. Which of the following is a non-consumable item in the office?

A. Furniture

B. Loose sheets

C. Office pins

D. File tags

21. One of the obstacles to achieving one objective of ECOWAS is

A. Lack of common currency

B. Colonial linkages

C. Sovereignty of states

D. Language differences

22. One of the main objectives of establishing the Niger River Basin Commission was to

A. Embark on a comprehensive survey of the available water resources

B. Carry out research for the development of fresh water fisheries

C. Develop infrastructures to facilitate economic activities

D. Promote trade among member-states to improve standards of living

23. The basic function of the Nigerian Port Authority is to

A. Ensure that the right caliber of personnel is employed at the ports

B. Coordinates and regulate the activities of shipping lines

C. Facilitate and control the movement of goods arid services into and out of the country

D. Coordinate the activities of all the seaports in the country

24. The practice by which an insurance company accepts a very large risk and later shares it with other insurance companies is called

A. subrogation

B. contribution

C. re-insurance

D. identity

25. Goods imported to a country for the purpose of re-exporting attracts a rebate known as

A) customers drawback

B) export royalty

C) incentive

D) export rebate

26. The nominal value of a share as specified in the memorandum of association and the share certified is the

A. discounted value

B. stock value

C. face value

D. par value

27. “Caveat emptor” as a commercial legal word means

A. Let the seller beware

B. Let the producer beware

C. Let the buyer be awarded

D. Let the buyer beware

28. The main feature of a supermarket is the sale of

A. Office equipment only

B. Food stuff only

C. General household goods

D. Building materials

29. The ship that is used as a sea taxi is called

A. Linens

B.Tramps

C. Tankers

D. coasters

30. Which of the following is not a reward for labour

A. Profits

B. salaries

C. Wages

D. allowances

31. The person who calculates premium, sums assured and surrenders value in insurance contract is called

A. accountant

B. actuary

C. valuer

D. auditor

32.In the contract of sale of goods, let the buyer beware’ is signified by

A. del credence

B. caveat vendetta

C. caveat emptor

D. res ipsaloquitor

33. The main purpose of establishing a public corporation is to

A. provide employment

B. provide essential services

C. make profit

D. establish monopoly

34. Factorizing is a trade debt term used when the agent buys all the trade debts of the

A. Importer

B. Exporter

C. Nations

D. customers

35. Stevedores as a term in foreign trade means men who

A. inspect goods in ships

B. import goods by ships

C. collect duties

D. load and unload ships

36. A close indent is an instruction to an agent to

A. Order goods from a particular manufacturer

B. Order goods from any manufacturer

C. Sell goods in any form

D. Sell goods to a certain firm

37. Profit expressed as a percentage of the goods sold is referred to as

A. Margin

B. Mark up

C. Gain percentage

D. Gross profit

38. The main advantage of a sole trader is its freedom to

A. Employ anyone he likes

B. Seek advice from any source

C. Take quick decisions

D. Plough all the profits back into the business

39. In the case of voluntary liquidation of a business is (lie receiver is appointed by

A. Creditors

B. Debtors

C. Directors

D. Shareholders

40. When a company was more of loans than equity to finance its business, the company is said to be

A. Bankrupt

B. Solvent

C. High geared

D. In a strong liquid position

41. Rights issue means the

A. Issue of shares to the directors of a company on favourable firms

B. Issue of shares of a company only to the founder of the company

C. Rights of shareholder to vote on any issue

D. Issue of shares to shareholders on favourable terms

42. A term which indicates that a share is temporary suspended is

A. Ex-dividend

B. Un-dividend

C. Bond

D. stock

43. Excise duties are paid on goods that are

A. imported into the country

B. manufactured within the country

C. exported to other countries

D. kept in bonded warehouses

44. The business in the stock exchange is characterized essentially by

A. dealing

B. brokerage

C. speculations

D. transactions

45. The insurance policy which provides full cover against all risks at seas is known as:

A. policy with particular average

B. policy free of particular average

C. marine freight insurance

D. marine voyage policy insurance

46. A major liability of a commercial bank arises form

A. customers deposit

B. loans and advances

C. overdrafts

D. staff allowances

47. In the channel of distribution, which of the following sets is entirely made up of middle men?

A. Wholesales, retailers and agents

B. Manufacturers, consumers and retailers

C. Wholesales, agents and consumers

D. Retailers, manufacturers and wholesales

48. Most foreign trade transactions are paid through the use of

A. Central Bank cheques

B. Bank drafts drawn by commercial banks on their foreign branches

C. Irrevocable and confirmed letters of credits

D. Letters of credit authenticated by the embassies of the respective countries

49. The merger of two companies producing same type of produce is an example of

A. Vertical integration

B. Horizontal integration

C. Internal merger

D. An acquisition

Given:
Opening stock: ₦40,000.00
Purchases: ₦115,000.00
Closing stock: ₦60,000.00
Sales: ₦250,000.00

50. Which is the cost of goods sold?

A. ₦155,000.00

B. ₦95.000.00

C. ₦50,000.00

D. ₦30,000.00

51. The business organization in which shareholders have equal votes is

A. Sole proprietorship

B. Partnership

C. Cooperative

D. Limited liability company

52. One type of investment that has a variable income is

A. Debentures

B. Preferred shares

C. Government bonds

D. Ordinary shares

53. A public limited company can raise long term loans through

A. The capital market

B. The money market

C. Bank overdraft

D. Discount houses

54. The selling of article from place to place on foot is

A. Mailorder

B. Itinerant trading

C. Barter

D. Self service

55. Which of the following is the safest way of sending important document s through the post?

A. Registered mail

B. Parcel post

C. Letter post

D. Segmenting

56. Which of the following is an advertising function?

A. Packaging

B. Persuading

C. Grading

D. Segmenting

57. Unlimited liability in business implies that the

A. Risk of the owner is limited only to the amount invested

B. Debts are paid with subventions

C. Property of the owners should not’ be used to secure loans

D. Owners private property can be used to settle business debt

58. The practice of selling a product below the cost price to attract customers to a shop is known as

A. Hedging

B. loss leader

C. Skimming

D. Under-invoicing

59. The business environment that takes into cognizance the age distribution, ethnic mix and educational level of the consumer is

A. Demographic environment

B. Economic environment

C. Cultural environment

D. Natural environment

60. An announcement of a person’s willingness to enter into a contract is referred to as

A. A proxy

B. An offer

C. A consideration

D. An acceptance

More WAEC questions and answers on Marketing

1. A major function of an entrepreneur is

A. Decision-making

B. Encouraging competition

C. Human-resource training

D. Motivating employees

2. Which of these is a form of sales promotion?

A. Advertising on radio

B. Offering free samples

C. Distributing printed materials

D. Advertising on radio

3.Which of the following has the shortest effect on the consumer

A. Fashion

B. Innovation

C. Fad

D. attribute

4. What is the lifespan of a cheque which is drawn but not presented immediately for payment?

A. 30days

B. 2 months

C. 6 months

D. 12 months

5. Which of the following is not a function of money?

A. a medium of exchange

B. serves as a store of value

C. easily recongnisable

D. makes deferred payment possible

6. Who among the following does not function in the stock exchange market?

A. Bull

B. Broker

C. Jobber

D. Promoter

7. Which of the following does not influence the choice of a means of transport?

A. Distance

B. value of goods

C. Urgency

D. Brand of vehicle

8. Which of the following types of cheque protect the holder against risk of loss

A. Open cheque

B. Bearer cheque

C. Post-dated cheque

D. Crossed cheque

9. Establishing and maintaining mutual understanding between an organization and its customers is known as

A. Marketing concept

B. Advertising

C. Public relations

D. Sales promotion

10. Which of the following is sent by a supplier who does not want to sell on credit?

A. Proforma invoice

B. Quotation

C. Consular invoice

D. Advice note

11. Which of the following features is common to all retailers?

A. Operating as sole proprietors

B. Selling to the final consumers

C. Operating with small capital

D. Selling on hire purchase to consumers

12. Which of the following are exclusively functions of marketing?

A. Buying, pricing, selling and promotion

B. Risk-bearing, storage, production and transporting

C. Organizing, risk-bearing, transporting and storage

D. Production, promotion, distribution and recruiting

13. Which of the following describes the reason for international trade?

A. Balance of payment

B. Comparative cost advantage

C. Absolute cost advantage

D. Balance of trade

14. Which of the following implies that the price quoted includes the cost of insurance and carriage?

A) F.O.B

B) FASC

C) O.D

D) C.I.F

15. Which of the following has no limit to its membership?

A) Ordinary partnership

B) Private L imited Company

C) Limited Partnership

D) Co-operative Society

16. Which of the following does not lead to the dissolution of a partnership?

A) absence of a deed of partnership

B) withdrawal of a partner

C) incapacity of any of the partners

D) completion of contractual term

17. Which of the following are features of a limited liability company?
i. Separate legal entity
ii. Right to sue but not be sued
iii. Has its own corporate name
iv. the inability of members is limited

A) I, II and III

B) II, III and IV

C) I, II and IV

D) I, III and IV

18. When shares are sold “EX-D1V”, it means that

A) No dividend is paid on the shares

B) The buyer receives the dividend

C) The seller receives the dividend

D) The stock exchange receives the dividend

19. A retail outlet meant to sell only a particular manufacturer’s product is known as a

A) Co-operative Shop

B) Chain store

C) Department store

D) Tied shop

20. An unfavorable balance of trade for a country means that her

A) Exports exceed import

B) Visible imports exceed visible exports

C) Invisible export exceeds visible imports

D) Import & exports are equal

WAEC Marketing Essay and Objective 2020 (EXPO)

The above questions are not exactly 2020 WAEC Marketing questions and answers but likely WAEC Marketing repeated questions and answers.

These questions are for practice. The 2020 WAEC Marketing expo will be posted on this page 30 minutes before the WAEC Marketing examination starts. Keep checking and refreshing this page for the answers.

WAEC Marketing Questions and Answers 2020 Loading…

Areas of Concentration on WAEC Marketing

  1. Introduction to Marketing

(a) Meaning;

(b) Explanation of basic terms in marketing: needs, wants, demands,

product, exchange, transactions, and markets,

(c) Brief history of marketing in Nigeria;

(d) Functions of marketing.

  1. Marketing Concepts

(a) Meaning;

(b) Various marketing concepts (production, product, selling, marketing and societal marketing).

  1. Marketing Mix and Marketing Environment

(a) Meaning;

(b) Elements;

(c)i Explain Marketing Environment

(c)ii Factors affecting marketing environment:

– political;

– cultural;

– religious;

– economic;

– technological;

– social.

  1. Products

(a) Meaning;

(b) Classification (Industrial goods, consumer goods,

services, primary and secondary products and mineral products-oil and non oil;

(c) Distinctions between classes of products.

(d) Product Design*

  1. Markets

(a) Meaning;

(b) Classification:

– Consumer;

– Organization (industrial, reseller and government)

  1. Consumer and Organizational Behaviour

(a) Meaning;

(b) Influencing factors;

(c) Decision process in logical order

  1. Marketing Planning and Research

(a)i Meaning, process and importance;

ii Elements of marketing planning;

iii Information required for marketing planning

(b) Reasons for marketing planning and research.

(c) Utilization of feedback

  1. Pricing

(a) Meaning;

(b) i Strategies (haggling, cost-plus, demand and

competition);

ii Application of strategies*

(c) Price determinants.

  1. Advertising

(a) Definition;

(b) Functions;

(c) Media – meaning, types, advantages and disadvantages.

(d) Production of sample adverts*

  1. Sales Promotion

(a) Meaning and Functions;

(b) Forms – price-off, coupons, salesmen competition,

loyalty schemes, premium offers, trade-in-allowance,

sampling, training schemes, and merchandising incentives.

  1. Merchandising

(a) Meaning;

(b) Elements (packaging, branding and labeling)

(C) Influencing factors;

(d) Functions.

  1. Distribution

(a) Definition;

(b) Channels of distribution (definition and types)

(c) Factors influencing choice of distribution channels

(d) Functions of channel members.

  1. Transportation

(a) Meaning, mode, choice and importance

(b) Documents used in transportation;

(c) Factors affecting choice of transportation

  1. Warehousing

(a) Meaning, types and functions.

(b) Activities in the warehouse

  1. Market Unions and Facilitators

(a) Market Unions (Meaning and types)

(b) Roles of Market Unions in local markets;

(c) Market Facilitators – meaning, types and roles.

  1. International Marketing

(a) Meaning, importance/reasons and methods of engaging in international marketing,

(b) Influencing factors;

(c) Guiding rules and regulations;

  1. ICT in Marketing

(a) E-Marketing (electronic marketing) – meaning, ,importance, uses,ethics and abuses.

  1. Entrepreneurship in Marketing

(a) Meaning of entrepreneurship and entrepreneur;

(b) Sources of funds;

(c) Factors affecting location of a market outlet;

(d) Management of market outlets – purchase and supply of goods and services;

(e) Selling and bargaining skills

Follow strictly the instruction on  the Marketing exam paper

Many candidates overlook the instructions given in the exams hall. They think the instructions are not important. this is not good, adhere to the instructions and you will come out the best in your WAEC marketing exams.

How to Pass WAEC Marketing Examination

1. Have a Positive Mindset:

It is obvious that until your mindset is positive, your life will not be positive. As you prepare for WAEC, you must develop a positive mindset towards your fate.

Don’t say, “WAEC is very hard I don’t know whether I will pass” and don’t believe anyone that says you cannot pass WAEC 2020 on your own.

Have the mentality, “If others passed WAEC 2020 in the past, then I will be like them. Refuse to be identified with failure or those that failed in the past.

Even if this year’s WAEC Exam is not your first time, it doesn’t mean that you cannot pass WAEC 2020 marketing this time around.

Sit for maths 2020/2021 will a refined mindset. Nothing will make you fail WAEC 2020. Until your mindset is positive, your life will not be positive.

2. Avoid Bad Companies

If you are really serious about passing WAEC 2020 Marketing, try and avoid bad companies. They will discourage and engage you in activities that will not enhance your success. Remember that their mindset may not correspond to yours.

3. Set Good Target and Plans:

If you have made up your mind to pass WAEC Marketing 2020, the next thing you should do is set targets. Write down the type of grades you want in WAEC 2020. If you want all As, zero Fs and Zero Es then you should start planning it now.

Make sure you create a timetable and master plan to achieve your set goals. Remember, it takes nothing to dream but it takes everything to focus on your dream.

4. Get WAEC Marketing Recommended Textbooks 2020 :

One of your plans should be getting the WAEC 2020 marketing recommended textbooks. Normally, the West African Examination Council recommends books for the examination.

But apart from WAEC 2020 literature in English where certain novels are compulsory, you are free to use any good textbook to prepare for WAEC 2020 marketing exam.

Some topics are more difficult to understand. If you have any topic you are finding difficult to understand, then get another textbook that will make things simple for you.

5. Get WAEC Marketing Past Question:

This is a very good plan. Since WAEC 2020 and WAEC 2020 are of the same standard, you could use the same past questions to study for both.

If you are confused about how to get waec past questions. They are sold in good bookshops around. It is possible that the school where you registered could offer to give you some current past questions that will help you in WAEC 2020.

6. Start Preparing for WAEC Marketing 2020 :

Stop wasting your time. Now that you have gotten textbooks and past questions, the next thing is to begin your reading. Early reading and practice is good for you; you will pass well on WAEC 2020.

7. Avoid Skipping Examples and Exercises:

It is very unfortunate that Secondary school students are fond of skipping exercises and even examples while studying textbooks.

They loved notebooks so much that they could ask, “can I read my Marketing, Mathematics, etc notebooks and pass WAEC 2020?”

Don’t be scared of attempting exercises; they are there to help you. Face it and overcome it!

8. Test Yourself on WAEC Marketing Questions and Answers

This is a good practice. Once in awhile, answer full one year Marketing past questions on your own without checking the answers. Then mark to see your score. This will help you in many aspects.

9. Do Constant Practice:

Don’t get discouraged when certain topics are annoying, keep on practicing until you master everything. Never give up and never say never. Keep on keeping on….

10. Create Time for Recreation

Create time for yourself where you play and ease off stresses. Do not overwork yourself; it can make you waste time unnecessarily. One you work more than necessary, you are not gaining anything.

If you have any question about WAEC 2020 Marketing Questions and Answers, kindly let us know in the comment box.

Last Updated on

Leave a Reply

Your email address will not be published.