passwella.
Menu

WAEC Commerce 1996 Question 53

Question 53

Foreign Trade

Which of the following may be used to restrict imports?
I. Bill of lading
II. Specific licences
III. Foreign exchange rationing
IV. Letters of credit
V. Customs duties and tariffs

  1. A.I, II and V only
  2. B.II, III and V only
  3. C.III, IV and V only
  4. D.I, II and IV only
  5. E.II, III and IV only
Show the answer and explanation

Answer: B (II, III and V only)

Explanation

Licences, foreign exchange rationing and duties all limit imports; bills of lading and letters of credit are ordinary trade documents.