Barriers to international trade - Jamb Commerce Past Questions and Answers

Question 1:

• JAMB 1994

Commerce is defined as the study of how

A. Man utilizes the resources in his physical environment
B. Man produces, distributes and consumes his goods and services
C. Man buys, sells and distributes goods and services
D. Raw materials are changed into finished goods

Question 2:

• JAMB 2019

All but one is not a barriers to foreign trade

A. Natural Barriers
B. Economic Barriers
C. Social and Language Barriers
D. Trade Fair

Question 3:

• JAMB 2019

An International organisation that influence and fix the price of oil in the International markets is

A. IMF
B. ECOWAS
C. OPEC
D. OAU

Question 4:

• JAMB 2003

An obstacle to international trade is?

A. Trade imbalance between countries
B. Availiability of local market
C. Quantity and quality of labour
D. Cost of finance

Question 5:

• JAMB 2007

A major setback of international trade is?

A. Inadequate exports
B. Economic sanctions
C. Devaluation of currency
D. Exchange rate appreciation