Meaning And Basis For International Trade Jamb Economics Past Questions
Question 21
Which of the following is NOT a visible item on international trade payment?
- A. Payment for imported cars
- B. Receipt from cocoa exports
- C. Payments to foreign shipping companies
- D. Payments for steel imports
- E. Payment for petroleum imports
Question 22
Comparative cost doctrine of international trade means specialization in production
- A. according to absolute cost advantage
- B. according to absolute cost disadvantage
- C. according to comparative cost disadvantage
- D. according to comparative cost advantage
- E. on the basis of the availability of labour
