Trade - JSS2 Business studies Past Questions and Answers - page 1
What is trade?
Only buying of goods.
Buying and selling of goods and services between different entities.
Only selling of goods.
Transportation of goods.
Why is trade important?
It promotes isolationism.
It fosters specialization and enhances efficiency.
It limits competition.
It decreases economic growth.
What is home trade also known as?
Domestic trade
Foreign trade
International trade
Global trade
What does foreign trade refer to?
Buying and selling within a country
Only selling goods to foreign countries
Buying and selling between different countries
Only buying goods from foreign countries
How do banks aid trade?
By providing financial services
By providing legal advice
By advertising products
By transporting goods
What is the purpose of insurance in trade?
To increase competition
To protect against risks
To facilitate communication
To provide warehousing services
Which tool helps in promoting products and creating demand among consumers?
Banking
Insurance
Advertising
Communication
What facilitates quick and efficient communication between traders?
Transport
Advertising
Communication tools
Warehousing
What enables the movement of goods from producers to consumers?
Banking
Tourism
Transport
Commerce
What contributes to trade by attracting visitors who spend money on various goods and services?
Banking
Tourism
Insurance
Advertising