Commerce Questions and Answers
Test and improve your knowledge of the fundamentals of buying and selling with these Commerce past questions and answers.
Test and improve your knowledge of the fundamentals of buying and selling with these Commerce past questions and answers.
A deficit in balance of trade occurs when?
visible exports exceeds invisible imports
total payments exceed visible exports
visible imports exceeds visible exports
invisible exports exceeds invisible imports
visible exports exceeds invisible imports
Correct answer is C
No explanation has been provided for this answer.
Most payments in international trade are made by means of?
cash
bills of lading
personal cheques
letters of credit
travellers cheques
Correct answer is D
No explanation has been provided for this answer.
Which of the following is an invisible export of Nigeria?
Shipping services Nigeria renders to Russia
Nigeria's crude oil to london
banking services rendered to Americans resident in Nigeria
Stockfish from Germany to Nigeria
Nigeria groundnut to egypt
Correct answer is A
No explanation has been provided for this answer.
A trader who wants to buy goods from another country sends?
an advice note
an invoice
a bill of exchange
a statement
an indent
Correct answer is E
No explanation has been provided for this answer.
invisible trade
entrepot trade
export trade
import trade
bilateral trade
Correct answer is B
No explanation has been provided for this answer.