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JAMB Commerce 2012 Question 9

Question 9

Foreign Trade

The major problem encountered in international trade is that of

  1. A.distance
  2. B.differences in culture
  3. C.politics
  4. D.differences in currency.
Show the answer and explanation

Answer: D (differences in currency.)

Explanation

Each country has its own currency, so traders must exchange money and face exchange-rate risk.