Neco Model Questions Vol1 2024 Commerce Question 1

Practice essay / theory question 1 from the 2024 Neco Model Questions Vol1 Commerce examination. This question covers Functions of commerce, E‑commerce and trade, Economic impact of commercial innovations .

Neco Model Questions Vol1 2024 Commerce Essay / Theory
Topics: Functions of commerce E‑commerce and trade Economic impact of commercial innovations
Question 1 NECO_MODEL_QUESTIONS_VOL1 • 2024 • COMMERCE • essay

A small town in Nigeria has recently witnessed the opening of an online marketplace that enables local artisans to sell their products nationwide. The local traders are divided in their opinion about the impact of this development.

Question Parts

( a )
Explain three fundamental functions of commerce and illustrate how the online marketplace facilitates each function for the local artisans.
( b )
Analyse two potential challenges that the local traders may face because of the shift to e‑commerce and suggest one practical measure to mitigate each challenge.
( c )
Considering the above, evaluate whether the introduction of the online marketplace is likely to improve the overall economic well‑being of the town in the next five years. Justify your answer with reference to the functions and challenges discussed.

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About This Question

This is Neco Model Questions Vol1 2024 Commerce Question 1. It is one of the essay questions from the 2024 Neco Model Questions Vol1 Commerce examination.

The question covers Functions of commerce, E‑commerce and trade, Economic impact of commercial innovations .

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