Foreign trade - Jamb Commerce Past Questions and Answers

Question 81:

• JAMB 2018

The act of selling in a foreign market at a price lower than the cost price is called

A. Dumping
B. Hedging
C. Fair trading
D. Under sale

Question 82:

• JAMB 2018

What is a Quota?

A. Tax pad on goods produced within a country
B. A physical restriction placed on quantity of goods that can be imported
C. Tax paid on goods produced outside a country
D. Ban on all imported goods

Question 83:

• JAMB 2018

Balance of payment consist of ----------- and ---------- items

A. Credit and loss
B. Visible and non-visible
C. Valid and invalid
D. Income and expenditure

Question 84:

• JAMB 2018

Excise duties are paid on goods that are?

A. Imported into the country
B. Manufactured within the country
C. Exported to other countries
D. Kept in bonded warehouse

Question 85:

• JAMB 2019

The theory of International trade is based on_________

A. Principles of management
B. Principles of comparative cost
C. Principle of double entry
D. Theory of migration