Foreign trade - Jamb Commerce Past Questions and Answers

Question 66:

• JAMB 2012

The major problem encountered in international trade is that of

A. Distance
B. Differences in culture
C. Politics
D. Differences in currency

Question 67:

• JAMB 2013

A country is said to be experiencing an unfavorable balance of trade if her

A. Exports exceed imports
B. Visible exports exceed visible imports
C. Imports and exports are equal
D. Visible imports exceed visible exports

Question 68:

• JAMB 2013

Trading position of Nigeria is the same as her

A. Desire to trade with many countries
B. Willingness to grant credit to foreigners
C. Balance of trade
D. Terms of trade

Question 69:

• JAMB 2013

The role of customs and exercise authority includes the

A. Provision of a good transport system to facilitate imports and exports
B. Provision of security at the port
C. Control of the flow of goods in and out of the country
D. Provision of dockyards for ship repairs

Question 70:

• JAMB 2013

The document lodged with the customs authorities before a ship can leave the port is a

A. Shipping note
B. Ship report
C. Ship manifest
D. Dock warrant