Trade - Jamb Commerce Past Questions and Answers

Question 106:

• 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 107:

• JAMB 2012

The sales of goods through a medium that accepts money and delivers the items to the customer is

A. An automated teller machine
B. A vending machiine
C. A counting machine
D. A branding machine

Question 108:

• JAMB 2012

The basis for international trade is embedded in the principle of

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

Question 109:

• 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 110:

• JAMB 2012

A person who in consideration for an extra commission takes responsibility for goods sold on credit and in case of default is a

A. Commission agent
B. Del credere agent
C. Broker
D. Factor