Commerce Practice Tests – Home and Foreign Trade (Questions with Answers and Explanations)

The main factors militating against the rapid growth of trade in Nigeria are ______ 

A. inadequate transportation network and huge capital outlay
B. lack of good transportation network and insecurity of investments
C. lack of motivation and government attitude towards trade
D. huge capital outlay and government attitude to trade

The cost of transporting goods to customers is called ______  

A. carriage inward     B. carriage forward     C. carriage paid     D. carriage outward

The overriding advantage of home trade over foreign trade is ______ 

A. accessibility of seller to buyer
B. absence of many documents
C. ease in language of transaction
D. ease in form of payment

The current trends in retailing competition in Nigeria are ______ 

A. self-service, after sales service and branding strategies
B. branding, enterprising and differentiation of goods and services
C. advertising and sales promotion strategies
D. after sales service and sales promotion strategies

Okon Etim Esin is the ______ 

A. debtor     B. creditor     C. exporter     D. importer.