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Form 4 Business Studies questions and answers on international trade
Explain the following terms as used in international trade.
a)LOCO
b)F.O.R
c)F.A.S
d)Bill of landing
(1m 44s)
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1.
Outline four benefits that Kenya derives by being a member of preferential Trade Area (PTA)
2.
Give four reasons why it may be necessary for a country to control imports
3.
State four benefits that a country may derive from participating in international trade
4.
State for methods of controlling imports
5.
State measures that Kenya may take to promote her exports
6.
State four factors that may limit the success of trade agreements among African countries.
7.
State the business document to which each of the following relates. a)Informs the buyer when goods were dispatched and by what means: b)A request by the seller for payment in advance c)Used to correct an undercharge in an invoice. d)Shows details of the transactions between seller and buyer during a given period.
8.
Highlight four problems a country may have by participating in international trade.
9.
Outline four circumstances under which a proforma invoice may be used.
10.
Explain the following terms as used in international trade. a)LOCO b)F.O.R c)F.A.S d)Bill of landing
11.
Country X has recorded a surplus balance of payments from its foreign trade. Outline four ways in which the country can spend these surplus earnings.
12.
Outline five transactions which are recorded in balance of payment account of a country.
13.
Explain the meaning and significance of the following terms as used in foreign trade. -Terms of trade -Balance of payment -Exchange rate -Balance of trade
14.
Explain the significance of each of the following documents as used in international trade. -Bill of lading -Proforma invoice -Indent -Letter of credit:
15.
Country X has obtained a surplus in its balance of payment. Explain the factors that may have contributed to this.
16.
Explain the factors that may lead to deteriorating terms of trade in a country.
17.
Highlight five benefits that Kenya gets from trading with other countries.
18.
The domestic currency of a particular country has been depreciating over time. Highlight five disadvantages of the depreciating of the country.
19.
Highlight five ways in which the bill of lading is useful to an importer of goods.
20.
Outline reasons why a country would impose measures aimed at restricting trade with other countries.
21.
Explain how the IMF is beneficial to developing economies
22.
Outline four ways that the world bank may use to assist developing countries to improve their economy.
23.
Discuss five reasons why less developed countries are reluctant in implementing free trade agreement
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