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