International Trade Jamb Economics Past Questions
Question 1
The two major types of international trade are Bilateral trade and?
- A. Internal trade
- B. Multilateral trade
- C. Dilateral trade
- D. Trilateral trade
Question 2
The policy by which government encourages producers of export goods to produce and export more in order to earn more foreign exchange is called__________
- A. Sales promotion
- B. Term of trade
- C. Export promotion
- D. International trade
Question 3
Import duty and tariffs is an instrument used for international trade restriction and so is __________?
- A. Preferential duties
- B. Preferential treatment
- C. Entreport
- D. Trade license
Question 4
Trade takes place because of
- A. marginal utility
- B. inefficiency in production
- C. opportunity cost
- D. comparative advantage
Question 5
A policy aimed at enhancing globalization of the Nigerian economy is
- A. indigenization
- B. dereglation
- C. commercialization
- D. privatization
