SS3 Marketing

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

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

2. Buying goods from other countries is called:

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

3. Export trade means:

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

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

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

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

A) Imports equal exports
B) Exports exceed imports
C) No trade occurs
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) Local trade
B) Re-export trade
C) Retail trade
D) Home trade

8. Tariffs are:

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

9. One major reason for international trade is:

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

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

A) Retail goods
B) Raw materials
C) Exports
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) Banking
B) Retail trade
C) Barter trade
D) Credit

13. Freight insurance covers goods:

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

14. A country imports goods mainly because:

A) It cannot produce everything
B) It wants more inflation
C) It has excess goods
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) Packaging
B) Selling
C) Advertising
D) Market research

17. Product adaptation means:

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

18. A business must obtain __________ before exporting goods.

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

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

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

20. Training workers in export procedures is part of:

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

21. Packaging for export must comply with:

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

22. Export promotion councils help businesses by:

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

23. Efficient shipping and logistics ensure:

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

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

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

25. Cultural understanding in foreign markets helps to:

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

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

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

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

29. Understanding shipping insurance is important because it:

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

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