SS3 Marketing

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

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

2. Buying goods from other countries is called:

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

3. Export trade means:

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

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

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

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

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

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) Re-export trade
D) Local trade

8. Tariffs are:

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

9. One major reason for international trade is:

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

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

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

11. The body that regulates world trade is the:

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

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

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

13. Freight insurance covers goods:

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

14. A country imports goods mainly because:

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

15. One major problem of international trade is:

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

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

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

17. Product adaptation means:

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

18. A business must obtain __________ before exporting goods.

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

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

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

20. Training workers in export procedures is part of:

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

21. Packaging for export must comply with:

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

22. Export promotion councils help businesses by:

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

23. Efficient shipping and logistics ensure:

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

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

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

25. Cultural understanding in foreign markets helps to:

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

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

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

27. Export documents help in:

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

28. Businesses organize for international trade mainly to:

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

29. Understanding shipping insurance is important because it:

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

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