JAMB and WAEC Commerce questions

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

All topics Advertising and marketing · 32 Business management and environment · 32 Commerce and its scope · 31 Communication · 33 Computers and ICT in business · 29 Consumer protection · 30 Documents used in trade · 34 Elements of commercial law · 31 Financing a business · 32 Foreign trade · 40 Forms of business organisation · 40 Home trade: retail and wholesale · 40 Insurance · 39 Money and banking · 40 Occupation and production · 33 The stock exchange · 34 Transport · 33 Warehousing · 28

Question 301· Foreign trade· JAMB
A C.I.F. price in foreign trade includes
Explanation and discussion
Question 302· Foreign trade· WAEC
Trade between Nigeria and Ghana is
Explanation and discussion
Question 303· Foreign trade· JAMB
CIF means the price includes
Explanation and discussion
Question 304· Foreign trade· JAMB
The difference between the values of visible exports and visible imports is the
Explanation and discussion
Question 305· Foreign trade· JAMB
The Nigeria Customs Service is responsible for
Explanation and discussion
Question 306· Foreign trade· WAEC
The document used by an importer to ask a supplier abroad for goods is the
Explanation and discussion
Question 307· Foreign trade· JAMB
Exchange control is used by government to
Explanation and discussion
Question 308· Foreign trade· JAMB
Free on board (FOB) means the seller pays costs
Explanation and discussion
Question 309· Foreign trade· WAEC
Which document is both a receipt for goods shipped and a document of title?
Explanation and discussion
Question 310· Foreign trade· WAEC
Entrepot trade means
Explanation and discussion
Question 311· Foreign trade· JAMB
An importer's bank promises to pay the exporter once the shipping documents are presented. This method of payment is
Explanation and discussion
Question 312· Foreign trade· WAEC
Tariffs are
Explanation and discussion
Question 313· Foreign trade· WAEC
A limit on the quantity of a good that may be imported is called
Explanation and discussion
Question 314· Foreign trade· WAEC
Exporting goods earns a country
Explanation and discussion
Question 315· Foreign trade· WAEC
A balance of payments deficit means that
Explanation and discussion
Question 316· Foreign trade· JAMB
Under an F.O.B. price, the exporter pays all costs until the goods are
Explanation and discussion
Question 317· Foreign trade· WAEC
Goods that cannot be exported through a port in their own country are often handled through
Explanation and discussion
Question 318· Foreign trade· JAMB
A country has a favourable balance of trade when
Explanation and discussion
Question 319· Foreign trade· JAMB
An embargo is
Explanation and discussion
Question 320· Foreign trade· WAEC
An import duty is a tax on
Explanation and discussion

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JAMB and WAEC Commerce questions

A C.I.F. price in foreign trade includes

Trade between Nigeria and Ghana is

CIF means the price includes

The difference between the values of visible exports and visible imports is the

The Nigeria Customs Service is responsible for

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

Exchange control is used by government to

Free on board (FOB) means the seller pays costs

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

Entrepot trade means

An importer's bank promises to pay the exporter once the shipping documents are presented. This method of payment is

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

Under an F.O.B. price, the exporter pays all costs until the goods are

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

A country has a favourable balance of trade when

An embargo is

An import duty is a tax on