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Commerce Past Questions and Answers

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Waec Commerce Questions

Question 31:

If a businessman imports stockfish with a view to exporting them to other countries, this form of trade is known as?

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A Invisible trade
B Entrepot trade
C Export trade
D Import trade
E Bilateral trade

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Question 32:

A trader who wants to buy goods from another country sends?

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A An advice note
B An invoice
C A bill of exchange
D A statement
E An indent

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Question 33:

Which of the following is an invisible export of Nigeria?

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A Shipping services Nigeria renders to Russia
B Nigeria's crude oil to london
C Banking services rendered to Americans resident in Nigeria
D Stockfish from Germany to Nigeria
E Nigeria groundnut to egypt

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Question 34:

Most payments in international trade are made by means of?

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A Cash
B Bills of lading
C Personal cheques
D Letters of credit
E Travellers cheques

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Question 35:

A deficit in balance of trade occurs when?

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A Visible exports exceeds invisible imports
B Total payments exceed visible exports
C Visible imports exceeds visible exports
D Invisible exports exceeds invisible imports
E Visible exports exceeds invisible imports

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