Foreign trade - Jamb Commerce Past Questions and Answers

Question 56:

• JAMB 2008

A function generally performed by authorities of both the air and seaport is the?

A. Maintance of warehouse where goods can be stored
B. Provision of facilities for loading and unloading of cargoes
C. Maintenance of security and order at the ports
D. Provision of facilities for landing and refuelling at the ports

Question 57:

• JAMB 2009

An artificial barrier to international trade is?

A. Political unrest
B. Culture of the people
C. Units of measurement
D. Custom duties

Question 58:

• JAMB 2009

The term free on board means that the price includes?

A. Costs and insurance only
B. Costs and freight only
C. Freight and insurance only
D. Costs, insurance and freight

Question 59:

• JAMB 2010

The comparison of a country's visible and invisible exports and imports expressed in monetary term is?

A. Balance of payment
B. Terms of trade
C. Balance of trade
D. Terms of payment

Question 60:

• JAMB 2010

Entrepot trade usually occurs in?

A. Exchanging goods within a nation
B. Exchanging goods among countries
C. Importing goods to be re-exproted
D. Exproting goods to be re-imported