JAMB Economics · The international economy
International trade: JAMB Economics Past Questions and Answers
What the JAMB syllabus covers in International trade
Our summary: Why countries trade, the balance of payments, Nigeria's foreign trade and how exchange rates are set.
- Meaning and basis for international trade (absolute and comparative costs etc.)
- Balance of trade and balance of payments: problems and corrective measures
- Composition and direction of Nigeria's foreign trade
- Exchange rate: meaning, types and determination
Objectives
- examine the basis for international trade;
- differentiate between absolute and comparative advantages;
- distinguish between balance of trade and balance of payments and their corrective measures;
- highlight the problems of balance of payments and their corrective measures;
- examine the composition and direction of Nigeria's foreign trade;
- identify the types of exchange rates;
- examine how exchange rates are determined.
Syllabus content © The Joint Admissions and Matriculation Board (UTME).
JAMB Economics questions on International trade
- JAMB 2024When an economy is having a balance of payment surplus the best alternative opened to it is to
- JAMB 2024The following can be used to improve a country's balance of payment EXCEPT
- JAMB 2024Which of these is NOT associated with the problem of internal trade?
- JAMB 2023A … in the price of the domestic currency in terms of a foreign currency is referred to as …
- JAMB 2023The theory of … was propounded by …
- JAMB 2023Which of the following would not be a reason for a government to impose a quota on imports?
- JAMB 2023A tariff is a tax imposed on
- JAMB 2023In a two by two model of international trade, it is assumed that
- JAMB 2023------------- is NOT the cause of balance of payments (BOP) deficits in Nigeria
- JAMB 2022Nation engage in external trade because of difference in
- JAMB 2022Which of the following forms of economic integration is a member nation free to impose duty against non-members
- JAMB 2021Surplus in balance of payments leads to …
- JAMB 2021When a nation's exports are greater than its imports, …
- JAMB 2021Petroleum 'glut' in international trade means …
- JAMB 2021Mono production economies are those that …
- JAMB 2020A situation in which a commodity is sold abroad below its cost of production in the home country is known as?
- JAMB 2020Which of the following is an example of an invisible item on the balance of payments account
- JAMB 2019The demand curve facing the monopolist in the foreign market is …
- JAMB 2019Assume that, for a certain country in a given year, the index of import prices stands at 102, the index of export prices stands at 106. The terms of trade are…
- JAMB 2019A permit that allows an importer to bring a certain quantity of foreign goods into a country is …
- JAMB 2018The formation of cartels or monopolies in other to obtain better bargaining or deals from other countries is characteristic of which of the following?
- JAMB 2018Import duty and tariffs is an instrument used for international trade restriction and so is … ?
- JAMB 2018The two major types of international trade are Bilateral trade and?
- JAMB 2018The policy by which government encourages producers of export goods to produce and export more in order to earn more foreign exchange is called …
- JAMB 2018The formula (index of export prices)/(index of import prices) x 100 is used to measure the …
- JAMB 2018The reduction in the value of a country’s currency in relation to the value of the currencies of other nation is known as …
- JAMB 2017A country's terms of trade can be improved by … ?
- JAMB 2016If Nigeria has comparative advantage over Ghana in producing cocoa, this means … ?
- JAMB 2016A country's terms of trade can be improved by … ?
- JAMB 2015The term of trade can be expressed as
- JAMB 2015The practice of selling goods overseas and often below the cost of production is known as
- JAMB 2015What would encourage the growth of international division of labour?
- JAMB 2015The theory of comparative cost advantage is associated with
Years with International trade questions in DeeepSolve's question bank
From the past questions DeeepSolve holds, not a count of everything the exam body has set.
- 2024
- 2023
- 2022
- 2021
- 2020
- 2019
- 2018
- 2017
- 2016
- 2015