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    Commerce For ss1

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    busolajuliet601
    Examination questions

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    © All Rights Reserved
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    Commerce For ss1

    Uploaded by

    busolajuliet601
    18 views2 pages
    Examination questions

    Original Title

    commerce for ss1

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    Examination questions

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    © All Rights Reserved
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    Download as pdf or txt
    18 views2 pages

    Commerce For ss1

    Uploaded by

    busolajuliet601
    Examination questions

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
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    Subject: commerce

    Class: ss1

    Objective

    1. In international trade, the direct exchange of goods is __________(a) bilateral trade (b) counter
    trade (c) multilateral trade (d) entrepot trade.

    2. An unfavorable balance of trade for a country means that are ________(a) export exceeds
    imports (b) visible import exceeds visible exports (c) invisible exports exceeds visible import (d)
    imports and exports are equal.

    3. Which of the following is a customer service? (a) delivery (b) merchandising (c) branding (d)
    market research.

    4. Which of the following is the best channel for the sales of an aircraft? (a) producer —
    wholesaler — consumer (b) producer — retailer — consumer (c) producer — consumer (d)
    producer — wholesaler — retailer — consumer.

    5. The refund made on goods re-exported after being imported is known as __________ (a) import
    duty (b) export duty (c) custom duty (d) excise duty.

    6. Infant industries are________ (a) baby industries (b) beautiful industries (c) good industries (d)
    newly established industries.

    7. Tax paid on value and quantity of goods is __________ (a) goods tax (b) and valorem tax (c)
    custom duty (d) excise duty.

    8. ________ is a document which contains detailed particulars of all imported goods (a) dock
    warrant (b) sight note (c) bill of entry (d) bill of sight.

    9. ________ is a receipt for goods delivered and stored in the warehouse (a) warrant dock (b) bill
    of entry (c) dock warrant (d) bill of sight.

    10. _______ combines selling, delivery and collection in one operation (a) agent middlemen (b)
    wholesaler (c) merchant wholesalers (d) truck wholesalers

    11. Buying and selling by post is _________ retailing (a) postal (b) agent (c) post office (d) mail
    order.

    12. ________ are owned and controlled by the manufacturers themselves (a) mobile shops (b)
    tied shops (c) producer shops (d) retail shops.

    13. A chain store is also known as a__________ (a) department store (b) multiple shop (c)
    supermarket (d) hyper market.
    14. Department stores usually__________ (a) offer a wide variety of goods (b) specializes in
    selling only household goods (c) offer a few line of goods (d) sell on cash on delivery basis.

    15. Which of the following is a disadvantage of large scale retailing (a) decline in personal
    service (b) pilfering (c) high overload cost (d) one-stop shopping.

    Theory

    1a. Explain the following

    i. Balance of trade

    ii. Balance of payment

    iii. Terms of trade.

    2. Describe four(4) ways by which an adverse balance of payment can be corrected.

    3. Give three(3) functions of each of the following

    i. Port authority

    ii. Custom and excise authority.

    4. Define the following

    i. Airway bill

    ii. Consular invoice

    iii. Certificate of origin

    5. List four (4) barriers to international trade.

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