SS3 Marketing

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

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

2. Buying goods from other countries is called:

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

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

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

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

6. Which of the following promotes trade among nations?

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

7. Entrepôt trade is also known as:

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

8. Tariffs are:

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

9. One major reason for international trade is:

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

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

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

11. The body that regulates world trade is the:

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

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

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

13. Freight insurance covers goods:

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

14. A country imports goods mainly because:

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

15. One major problem of international trade is:

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

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

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

17. Product adaptation means:

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

18. A business must obtain __________ before exporting goods.

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

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

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

20. Training workers in export procedures is part of:

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

21. Packaging for export must comply with:

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

22. Export promotion councils help businesses by:

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

23. Efficient shipping and logistics ensure:

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

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

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

25. Cultural understanding in foreign markets helps to:

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

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

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

27. Export documents help in:

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

28. Businesses organize for international trade mainly to:

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

29. Understanding shipping insurance is important because it:

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

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