Trade - Jamb Commerce Past Questions and Answers

Question 6:

• JAMB 1994

One of the effects of the devaluation of the Naira is that the

A. Goods that can be imported with the naira have become cheaper
B. Value of other currencies relative to the naira have become cheaper
C. Goods that can be exported from Nigeria have become costlier
D. Imports that can be bought with the naira have become costlier

Question 7:

• JAMB 1994

The financial institution established to boost Nigeria's trade with the rest of the world is called

A. Nigerian Deposit Insurance Corporation
B. Nigerian Economic Reconstruction Fund
C. Nigerian Industrial Development Bank
D. Nigerian Export-Import Bank

Question 8:

• JAMB 1994

The lake Chad Basin commission was founded to enable member states

A. Expand the volume of water in the lake for fishing activities
B. Increase navigational activities on the lake
C. Dam the lake for electricity and agricultural purposes
D. Co-ordinate their efforts in managing the use of the lake's resources

Question 9:

• 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

Question 10:

• JAMB 2019

A fall in the value of a country's currency vis-a-vis other currencies is known as__________

A. Depreciation
B. Reduction
C. Devaluation
D. Exchange rate