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WAEC Commerce 1992 Question 15

Question 15

Foreign Trade

A trade agreement in which two countries exchange goods and services is known as

  1. A.export trade
  2. B.bilateral trade
  3. C.multilateral trade
  4. D.entrepot trade
  5. E.barter trade
Show the answer and explanation

Answer: B (bilateral trade)

Explanation

Bilateral means two-sided: a trade agreement between two countries.