Foreign trade - Jamb Commerce Past Questions and Answers

Question 61:

• JAMB 2010

The document issued to a port authority when goods are deposited is a?

A. Dock landing account
B. Bill of sight
C. Bill of lading
D. Dock warrant

Question 62:

• JAMB 2010

Selling goods in foreign countries at price below their marginal cost is?

A. Dumping
B. Depreciation
C. Devaluation
D. Discounting

Question 63:

• JAMB 2011

Balance of payment problems arise if a country's?

A. Exports is more than imports
B. Imports is more than exports
C. Currency devaluation
D. Invisible exports is more than visible exports

Question 64:

• JAMB 2011

The three components of a country's balance of payments are?

A. Current account, capital account and monetary movement account
B. Capital account, trade account and business record
C. Sales account, profit and loss account and capital account
D. Monetary movement account, trade account and sales ledger

Question 65:

• JAMB 2012

The basis for international trade is embedded in the principle of

A. Absolute advantage
B. Globalization
C. Deregulation
D. Comparative advantage