JAMB Commerce 2013 Objective — Question 6

Question 6 of 50 from the Joint Admissions and Matriculation Board (JAMB) Commerce 2013 Objective paper, with the correct answer and a full explanation.

Trading position of Nigeria is the same as her

A. willingness to grant credit to foreigners
B. balance of trade
C. terms of tradeCorrect
D. desire to trade with many countries

Explanation

The trade position of a country is expressed by the rate at which exports pay for imports, which is otherwise known as terms of trade.

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