Trade - JSS2 Business studies Past Questions and Answers - page 2
What provides storage facilities for goods before they are distributed to the market?
Banking
Tourism
Communication
Warehousing
What encompasses the entire process of buying and selling goods and services?
Banking
Tourism
Warehousing
Commerce
Which regulatory authority enforces regulations regarding the import and export of goods?
Customs
Excise
Banking
Insurance
What is imposed on specific goods produced domestically or imported?
Customs duties
Excise duties
Banking fees
Advertising fees
What generates revenue for the government and can also serve as a form of trade barrier?
Customs
Excise
Banking
Warehousing
What prevents illegal trade practices and ensures compliance with security measures?
Customs
Excise
Banking
Advertising
What are some examples of aids to trade?
Examples include banking services like loans and credit, insurance for risk management, advertising to promote products, efficient communication tools, transportation infrastructure, tourism contributing to economic activity, warehousing for storage, and commerce encompassing all aspects of buying and selling.
How do banks facilitate trade?
Banks facilitate trade by providing financial services such as loans for investment, credit for purchasing goods, currency exchange for international transactions, and electronic payment systems for efficient transactions.
Why is insurance important in trade?
Insurance is important in trade because it protects traders against various risks such as loss, damage, or theft of goods during transit or storage, ensuring business continuity and financial stability.
What role does advertising play in trade?
Advertising plays a crucial role in trade by promoting products and creating demand among consumers, thus increasing sales and contributing to economic activity.