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.
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Why is trade important?
It promotes isolationism.
It fosters specialization and enhances efficiency.
It limits competition.
It decreases economic growth.
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What is home trade also known as?
Domestic trade
Foreign trade
International trade
Global trade
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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
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How do banks aid trade?
By providing financial services
By providing legal advice
By advertising products
By transporting goods
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What is the purpose of insurance in trade?
To increase competition
To protect against risks
To facilitate communication
To provide warehousing services
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Which tool helps in promoting products and creating demand among consumers?
Banking
Insurance
Advertising
Communication
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What facilitates quick and efficient communication between traders?
Transport
Advertising
Communication tools
Warehousing
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What enables the movement of goods from producers to consumers?
Banking
Tourism
Transport
Commerce
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What contributes to trade by attracting visitors who spend money on various goods and services?
Banking
Tourism
Insurance
Advertising
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