SS3 Marketing

1. International trade refers to the exchange of goods and services between:

A) States
B) Villages
C) Towns
D) Countries

2. Buying goods from other countries is called:

A) Import
B) Retail
C) Export
D) Wholesale

3. Export trade means:

A) Buying goods from abroad
B) Selling goods locally
C) Selling goods to foreign countries
D) Importing services

4. The document that shows goods loaded on a ship is called:

A) Invoice
B) Debit note
C) Receipt
D) Bill of lading

5. A country has a favourable balance of trade when:

A) Imports exceed exports
B) No trade occurs
C) Imports equal exports
D) Exports exceed imports

6. Which of the following promotes trade among nations?

A) NLC
B) IMF
C) WAEC
D) NAFDAC

7. Entrepôt trade is also known as:

A) Home trade
B) Retail trade
C) Local trade
D) Re-export trade

8. Tariffs are:

A) Taxes on imports
B) Subsidies on exports
C) Shipping documents
D) Discounts on goods

9. One major reason for international trade is:

A) Unequal distribution of resources
B) Uniform distribution of resources
C) Government policies
D) Equal climate conditions

10. Goods brought into a country for sale are called:

A) Imports
B) Raw materials
C) Retail goods
D) Exports

11. The body that regulates world trade is the:

A) OPEC
B) WHO
C) UNESCO
D) WTO

12. The exchange of goods between countries without money is called:

A) Retail trade
B) Barter trade
C) Banking
D) Credit

13. Freight insurance covers goods:

A) In transit
B) In offices
C) In warehouses
D) In stores

14. A country imports goods mainly because:

A) It has excess goods
B) It cannot produce everything
C) It wants more inflation
D) It has surplus labour

15. One major problem of international trade is:

A) Long distance
B) Good communication system
C) Cheap labour
D) Quality control

16. The first step in organizing for international trade is:

A) Market research
B) Packaging
C) Selling
D) Advertising

17. Product adaptation means:

A) Producing for local markets
B) Changing a product to meet foreign standards
C) Avoiding foreign markets
D) Lowering prices

18. A business must obtain __________ before exporting goods.

A) Export license
B) Voter’s card
C) Driving license
D) Passport

19. Knowledge of foreign exchange rates helps a business to:

A) Hire workers
B) Fix export prices
C) Pay local taxes
D) Advertise products

20. Training workers in export procedures is part of:

A) Wholesale distribution
B) Local marketing
C) Domestic trade
D) Organizing for international trade

21. Packaging for export must comply with:

A) Street trading laws
B) Local market rules
C) International standards
D) Personal preference

22. Export promotion councils help businesses by:

A) Restricting foreign exchange
B) Increasing local competition
C) Providing guidance and support
D) Limiting exportation

23. Efficient shipping and logistics ensure:

A) Delays in delivery
B) Lower product quality
C) Smooth international trade
D) Reduced export options

24. One purpose of organizing for international trade is to:

A) Expand foreign market reach
B) Stop foreign customers
C) Limit production
D) Reduce business growth

25. Cultural understanding in foreign markets helps to:

A) Avoid customers
B) Increase tariffs
C) Reduce production
D) Improve foreign business relations

26. Studying foreign laws and regulations helps a business to:

A) Operate legally internationally
B) Break trade rules
C) Stop exporting
D) Avoid documentation

27. Export documents help in:

A) Legal and smooth export transactions
B) Local marketing
C) Manufacturing
D) Domestic pricing

28. Businesses organize for international trade mainly to:

A) Increase global competitiveness
B) Reduce sales
C) Stop local customers
D) Produce fewer goods

29. Understanding shipping insurance is important because it:

A) Stops export operations
B) Increases tariffs
C) Protects goods in transit
D) Reduces market size

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