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SS3 Marketing - Quiz
Contributed by: Obalanlege
  • 1. International trade refers to the exchange of goods and services between:
A) Towns
B) Villages
C) States
D) Countries
  • 2. Buying goods from other countries is called:
A) Export
B) Retail
C) Wholesale
D) Import
  • 3. Export trade means:
A) Selling goods to foreign countries
B) Selling goods locally
C) Buying goods from abroad
D) Importing services
  • 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 exceed exports
B) Imports equal exports
C) Exports exceed imports
D) No trade occurs
  • 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) Re-export trade
B) Retail trade
C) Home trade
D) Local trade
  • 8. Tariffs are:
A) Taxes on imports
B) Discounts on goods
C) Subsidies on exports
D) Shipping documents
  • 9. One major reason for international trade is:
A) Uniform distribution of resources
B) Equal climate conditions
C) Unequal distribution of resources
D) Government policies
  • 10. Goods brought into a country for sale are called:
A) Exports
B) Raw materials
C) Retail goods
D) Imports
  • 11. The body that regulates world trade is the:
A) WHO
B) WTO
C) UNESCO
D) OPEC
  • 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 stores
C) In warehouses
D) In offices
  • 14. A country imports goods mainly because:
A) It has surplus labour
B) It wants more inflation
C) It cannot produce everything
D) It has excess goods
  • 15. One major problem of international trade is:
A) Long distance
B) Good communication system
C) Quality control
D) Cheap labour
  • 16. The first step in organizing for international trade is:
A) Selling
B) Packaging
C) Market research
D) Advertising
  • 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) Driving license
B) Export license
C) Passport
D) Voter’s card
  • 19. Knowledge of foreign exchange rates helps a business to:
A) Pay local taxes
B) Advertise products
C) Hire workers
D) Fix export prices
  • 20. Training workers in export procedures is part of:
A) Local marketing
B) Organizing for international trade
C) Domestic trade
D) Wholesale distribution
  • 21. Packaging for export must comply with:
A) Local market rules
B) International standards
C) Personal preference
D) Street trading laws
  • 22. Export promotion councils help businesses by:
A) Increasing local competition
B) Limiting exportation
C) Providing guidance and support
D) Restricting foreign exchange
  • 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) Reduce business growth
C) Limit production
D) Stop foreign customers
  • 25. Cultural understanding in foreign markets helps to:
A) Improve foreign business relations
B) Avoid customers
C) Reduce production
D) Increase tariffs
  • 26. Studying foreign laws and regulations helps a business to:
A) Avoid documentation
B) Stop exporting
C) Break trade rules
D) Operate legally internationally
  • 27. Export documents help in:
A) Local marketing
B) Manufacturing
C) Legal and smooth export transactions
D) Domestic pricing
  • 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) Protects goods in transit
C) Reduces market size
D) Increases tariffs
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