WAEC Commerce questions: Foreign trade

19 questions with answers and explanations. Tap an option to check yourself.

All topics Advertising and marketing · 16 Business management and environment · 15 Commerce and its scope · 16 Communication · 17 Computers and ICT in business · 15 Consumer protection · 16 Documents used in trade · 18 Elements of commercial law · 16 Financing a business · 16 Foreign trade · 19 Forms of business organisation · 19 Home trade: retail and wholesale · 19 Insurance · 18 Money and banking · 19 Occupation and production · 17 The stock exchange · 17 Transport · 16 Warehousing · 15

Question 1· Foreign trade· WAEC
A document sent by an importer to an exporter to order goods is
Explanation and discussion
Question 2· Foreign trade· WAEC
Dumping in international trade means
Explanation and discussion
Question 3· Foreign trade· WAEC
Customs duties in Nigeria are collected by the
Explanation and discussion
Question 4· Foreign trade· WAEC
Goods imported into Lagos from China and later sent on to Chad are an example of
Explanation and discussion
Question 5· Foreign trade· WAEC
Goods imported into Lagos and then sent on to Niger Republic are part of
Explanation and discussion
Question 6· Foreign trade· WAEC
A country has a favourable balance of trade when the value of its
Explanation and discussion
Question 7· Foreign trade· WAEC
Trade between Nigeria and Ghana is an example of
Explanation and discussion
Question 8· Foreign trade· WAEC
Trade between Nigeria and Ghana is
Explanation and discussion
Question 9· Foreign trade· WAEC
The document used by an importer to ask a supplier abroad for goods is the
Explanation and discussion
Question 10· Foreign trade· WAEC
Which document is both a receipt for goods shipped and a document of title?
Explanation and discussion
Question 11· Foreign trade· WAEC
Entrepot trade means
Explanation and discussion
Question 12· Foreign trade· WAEC
Tariffs are
Explanation and discussion
Question 13· Foreign trade· WAEC
A limit on the quantity of a good that may be imported is called
Explanation and discussion
Question 14· Foreign trade· WAEC
Exporting goods earns a country
Explanation and discussion
Question 15· Foreign trade· WAEC
A balance of payments deficit means that
Explanation and discussion
Question 16· Foreign trade· WAEC
Goods that cannot be exported through a port in their own country are often handled through
Explanation and discussion
Question 17· Foreign trade· WAEC
An import duty is a tax on
Explanation and discussion
Question 18· Foreign trade· WAEC
A bill of lading is issued by a
Explanation and discussion
Question 19· Foreign trade· WAEC
A ban on importing a particular commodity is called
Explanation and discussion

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WAEC Commerce questions: Foreign trade

A document sent by an importer to an exporter to order goods is

Dumping in international trade means

Customs duties in Nigeria are collected by the

Goods imported into Lagos from China and later sent on to Chad are an example of

Goods imported into Lagos and then sent on to Niger Republic are part of

A country has a favourable balance of trade when the value of its

Trade between Nigeria and Ghana is an example of

Trade between Nigeria and Ghana is

The document used by an importer to ask a supplier abroad for goods is the

Which document is both a receipt for goods shipped and a document of title?

Entrepot trade means

Tariffs are

A limit on the quantity of a good that may be imported is called

Exporting goods earns a country

A balance of payments deficit means that

Goods that cannot be exported through a port in their own country are often handled through

An import duty is a tax on

A bill of lading is issued by a

A ban on importing a particular commodity is called