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JAMB and WAEC Economics questions: International trade

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

AllJAMBWAEC
All topicsAgriculture in Nigeria · 30Business organisations · 29Economic growth and development · 30Economic systems · 28Economics as a science · 30Factors of production · 28Financial institutions · 30Industry and industrialisation · 30International economic organisations · 29International trade · 32Market structures · 31Methods and tools of economic analysis · 29Money and inflation · 34National income · 36Natural resources and the Nigerian economy · 30Population · 30Public finance · 31The labour market · 31Theory of consumer behaviour · 30Theory of costs and revenue · 33Theory of demand · 43Theory of price determination · 30Theory of production · 29Theory of supply · 32

  1. Question 21· International trade· WAEC

    The terms of trade measure the

    Explanation and discussion

  2. Question 22· International trade· JAMB

    The balance of payments current account includes

    Explanation and discussion

  3. Question 23· International trade· JAMB

    The balance of trade is the difference between a country's

    Explanation and discussion

  4. Question 24· International trade· WAEC

    If the export price index is 120 and the import price index is 150, the terms of trade are

    Explanation and discussion

  5. Question 25· International trade· JAMB

    The theory of comparative advantage is associated with

    Explanation and discussion

  6. Question 26· International trade· JAMB

    The current account of the balance of payments includes

    Explanation and discussion

  7. Question 27· International trade· WAEC

    Nigeria places a tax on every imported bag of rice. This tax is

    Explanation and discussion

  8. Question 28· International trade· WAEC

    In a year, Nigeria's visible exports are worth ₦30 trillion and visible imports ₦24 trillion. The balance of trade is

    Explanation and discussion

  9. Question 29· International trade· WAEC

    Devaluation makes a country's exports

    Explanation and discussion

  10. Question 30· International trade· WAEC

    A country has a comparative advantage in a good when it can produce it at a

    Explanation and discussion

  11. Question 31· International trade· JAMB

    The African Continental Free Trade Area (AfCFTA) aims to

    Explanation and discussion

  12. Question 32· International trade· JAMB

    A country's index of export prices is 120 and its index of import prices is 100. Its terms of trade are

    Explanation and discussion

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