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UI Post-UTME Commerce 2025 (Model questions) Question 16

Question 16

Economic Integration

The following are methods of promoting international trade:
I. Free trade areas and customs unions
II. World Trade Organisation (WTO) agreements
III. Import quotas and tariffs
IV. Bilateral trade agreements

  1. A.I, II and IV only
  2. B.I and III only
  3. C.II, III and IV only
  4. D.All of the above
Show the answer and explanation

Answer: A (I, II and IV only)

Explanation

Free trade areas, WTO rules and bilateral agreements reduce trade barriers; quotas and tariffs restrict trade.