Differentiate between export, import and entrepot. - SS1 Commerce Past Questions and Answers - page 1
1
What does export refer to?
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A
Buying goods and services from foreign countries
B
Selling goods and services to foreign countries
C
Importing and re-exporting goods to other countries
2
What does import refer to?
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A
) Selling goods and services to foreign countries
B
Buying goods and services from foreign countries
C
Importing and re-exporting goods to other countries
3
What is the primary purpose of entrepot trade?
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A
Buying goods and services from foreign countries
B
Selling goods and services to foreign countries
C
Serving as a transit point for importing and exporting goods between countries
4
In export, which direction do goods and services typically move?
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A
From domestic to foreign markets
B
From foreign to domestic markets
C
Between two foreign countries
5
In import, which direction do goods and services typically move?
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A
From domestic to foreign markets
B
From foreign to domestic markets
C
Between two foreign countries
6
Explain the difference between export and import in your own words.
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