Trade and Aids to Trade
GCE Commerce

a) What is meant by the term 'entrepot trade'? (2 marks) b) Explain THREE problems that hinder the growth of foreign trade between countries. (9 marks) c) i) Define advertising as an aid to trade. (2 …

a) Define the term 'trade' as used in commerce. (2 marks) b) Distinguish between home trade and foreign trade. (4 marks) c) State and explain FOUR aids to trade and show how each facilitates the buyin…

An insurance company charges a premium rate of 2% on a consignment valued at ₦4,500,000. If the insured adds a 10% mark-up to cover additional expenses before computing the insurable value, what is th…

Which of the following is NOT a function of a warehouse in the distribution chain?

A bill of lading serves as evidence of a contract of carriage AND as a

Which of the following best describes entrepôt trade?

Eze buys a 90-day bill of exchange with a face value of ₦500,000 at a discount of 8% per annum. How much does Eze pay for the bill?

Which of the following aids to trade is primarily responsible for bridging the gap of PERSON between producers and consumers?

Under a letter of credit arrangement in international trade, the bank that opens the credit on behalf of the importer is referred to as the

The practice by which a government imposes a tax on imported goods to make them more expensive than locally produced goods is known as

A Lagos-based importer purchased goods worth $50,000 from a Chinese supplier. The agreed trade term is CIF Lagos. This means the Chinese supplier is responsible for paying