Composition and direction of Nigeria's foreign trade - Jamb Economics Past Questions and Answers

Question 1:

• JAMB 2019

A demand which gives rise to the reverse of the law of demand is__________

A. Derived demand
B. Joint demand
C. Abnormal demand
D. Composite demand

Question 2:

• JAMB 2019

The policy by which government encourages producers of export goods to produce and export more in order to earn more foreign exchange is called__________

A. Sales promotion
B. Term of trade
C. Export promotion
D. International trade

Question 3:

• JAMB 1980

Nigeria earns the major part of her foreign exchange from the export of?

A. Manpower to another countries
B. Crude oil
C. Petroleum products
D. Groundnuts and cotton
E. Palm oil and cocoa

Question 4:

• JAMB 1981

Given the international trade statistics of Nigeria for the past 6 years, which of these statements would you consider to be correct?

A. The value of industrial exports is declining
B. The value of industrial imports is constant
C. The share of agricultural exports is increasing
D. The share of agricultural export is decreasing
E. The value of mineral export is declining

Question 5:

• JAMB 1995

The major source of Nigeria's foreign exchange is the export of?

A. Skilled manpower
B. Palm kernel and cocoa
C. Crude oil
D. Groundnuts and cotton