The main divisions of production are
industry, direct and indirect services
extraction, manufacturing and construction
industry, commerce and direct services
industry, commerce and trading
Correct answer is B
Production has 3 main divisions
- Extraction
- manufacturing
- construction
Shipping services rendered by Nigeria to The Gambia would be classified by The Gambia as
invisible imports
invisible exports
visible imports
vivible exports
Correct answer is A
Invisible import is any service, such as banking, insurance and tourism, that cannot be seen and recorded as it crosses boundaries between countries.
Which of the following is a means of payment?
I.O.U
Postal order
Promissory note
C.I.F
Correct answer is B
A postal order is an order for payment of a specified sum to a named payee, issued by the Post Office.
i,iii and iv only
i and iii only
iii,iv and v only
iii and iv only
Correct answer is A
Manufacturers may decide to sell directly to consumers if the good are;
- made to customer's specification
- perishable
- Highly technical
multi-lateral trade
counter trade
barter trade
entrepot trade
Correct answer is D
Entreport is a trade in which imported goods are re-exported with or without any additional processing or repackaging.