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Trade - JSS2 Business studies Past Questions and Answers - page 1

1
What is trade?
View related lesson
A

Only buying of goods.

B

Buying and selling of goods and services between different entities.

C

Only selling of goods.

D

Transportation of goods.

2
Why is trade important?
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A

It promotes isolationism.

B

It fosters specialization and enhances efficiency.

C

It limits competition.

D

It decreases economic growth.

3
What is home trade also known as?
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A

Domestic trade

B

Foreign trade

C

International trade

D

Global trade

4
What does foreign trade refer to?
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A

Buying and selling within a country

B

Only selling goods to foreign countries

C

Buying and selling between different countries

D

Only buying goods from foreign countries

5
How do banks aid trade?
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A

By providing financial services

B

By providing legal advice

C

By advertising products

D
By transporting goods
6
What is the purpose of insurance in trade?
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A

To increase competition

B

To protect against risks

C

To facilitate communication

D

To provide warehousing services

7
Which tool helps in promoting products and creating demand among consumers?
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A

Banking

B

Insurance

C

Advertising

D

Communication

8
What facilitates quick and efficient communication between traders?
View related lesson
A

Transport

B

Advertising

C

Communication tools

D

Warehousing

9
What enables the movement of goods from producers to consumers?
View related lesson
A

Banking

B

Tourism

C

Transport

D

Commerce

10
What contributes to trade by attracting visitors who spend money on various goods and services?
View related lesson
A

Banking

B

Tourism

C

Insurance

D

Advertising