JAMB Commerce 2022 Objective — Question 15

Question 15 of 40 from the Joint Admissions and Matriculation Board (JAMB) Commerce 2022 Objective paper, with the correct answer and a full explanation.

15. The rate at which a country's exports exchange for its imports is called

A. (A) balance of trade
B. (B) international exchange rate
C. (C) terms of payment
D. (D) terms of tradeCorrect

Explanation

The terms of trade is defined as the rate at which a country's exports pay for its imports over a particular period of time.

Sign up free to unlock

Score tracking
Practice history
Saved questions
Progress dashboard
Personalized sessions
Weak-topic breakdown

…and/or go further with premium services and No Ads.

Create free account

More questions from Commerce 2022 Objective More Commerce past papers