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SS3 Marketing
Contributed by: Obalanlege
  • 1. International trade refers to the exchange of goods and services between:
A) Villages
B) Towns
C) States
D) Countries
  • 2. Buying goods from other countries is called:
A) Retail
B) Import
C) Export
D) Wholesale
  • 3. Export trade means:
A) Selling goods to foreign countries
B) Buying goods from abroad
C) Importing services
D) Selling goods locally
  • 4. The document that shows goods loaded on a ship is called:
A) Debit note
B) Receipt
C) Invoice
D) Bill of lading
  • 5. A country has a favourable balance of trade when:
A) Exports exceed imports
B) Imports exceed exports
C) No trade occurs
D) Imports equal exports
  • 6. Which of the following promotes trade among nations?
A) NAFDAC
B) NLC
C) WAEC
D) IMF
  • 7. Entrepôt trade is also known as:
A) Retail trade
B) Re-export trade
C) Home 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) Uniform distribution of resources
B) Government policies
C) Equal climate conditions
D) Unequal distribution of resources
  • 10. Goods brought into a country for sale are called:
A) Retail goods
B) Exports
C) Imports
D) Raw materials
  • 11. The body that regulates world trade is the:
A) WHO
B) WTO
C) OPEC
D) UNESCO
  • 12. The exchange of goods between countries without money is called:
A) Barter trade
B) Retail trade
C) Banking
D) Credit
  • 13. Freight insurance covers goods:
A) In stores
B) In warehouses
C) In transit
D) In offices
  • 14. A country imports goods mainly because:
A) It cannot produce everything
B) It wants more inflation
C) It has surplus labour
D) It has excess goods
  • 15. One major problem of international trade is:
A) Cheap labour
B) Long distance
C) Good communication system
D) Quality control
  • 16. The first step in organizing for international trade is:
A) Selling
B) Advertising
C) Packaging
D) Market research
  • 17. Product adaptation means:
A) Avoiding foreign markets
B) Lowering prices
C) Producing for local markets
D) Changing a product to meet foreign standards
  • 18. A business must obtain __________ before exporting goods.
A) Voter’s card
B) Passport
C) Export license
D) Driving license
  • 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) Local marketing
B) Wholesale distribution
C) Organizing for international trade
D) Domestic trade
  • 21. Packaging for export must comply with:
A) International standards
B) Personal preference
C) Street trading laws
D) Local market rules
  • 22. Export promotion councils help businesses by:
A) Increasing local competition
B) Providing guidance and support
C) Limiting exportation
D) Restricting foreign exchange
  • 23. Efficient shipping and logistics ensure:
A) Lower product quality
B) Reduced export options
C) Delays in delivery
D) Smooth international trade
  • 24. One purpose of organizing for international trade is to:
A) Reduce business growth
B) Stop foreign customers
C) Limit production
D) Expand foreign market reach
  • 25. Cultural understanding in foreign markets helps to:
A) Reduce production
B) Avoid customers
C) Increase tariffs
D) Improve foreign business relations
  • 26. Studying foreign laws and regulations helps a business to:
A) Break trade rules
B) Operate legally internationally
C) Stop exporting
D) Avoid documentation
  • 27. Export documents help in:
A) Local marketing
B) Manufacturing
C) Domestic pricing
D) Legal and smooth export transactions
  • 28. Businesses organize for international trade mainly to:
A) Produce fewer goods
B) Stop local customers
C) Increase global competitiveness
D) Reduce sales
  • 29. Understanding shipping insurance is important because it:
A) Stops export operations
B) Increases tariffs
C) Reduces market size
D) Protects goods in transit
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